LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global desalination market to post a CAGR of close to 9% during the period 2018-2022, in their latest market research report.
The increasing use of renewable power sources is a key trend, which is expected to impact the growth of the global desalination market. Due to the high costs involved in the desalination process and the related equipment, the key players are focusing on establishing desalination plants that would work on renewable power sources. The highly intensive, energy-consuming desalination process is expected to witness a significant turnaround in terms of energy sources over the forecast period.
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In this report, Technavio researchers identify the increase in population and rise in demand for consumable water as one of the key factors contributing to the growth of the global desalination market:
Global desalination market: Increase in population and rise in demand for consumable water to drive growth
The rising global population and the increasing demand for consumable water are the key factors that will drive the growth of the global desalination market. The fast-paced depletion of freshwater sources is projecting the need for stringent regulations on water consumption and its discharge.
According to a senior analyst at Technavio for specialty chemicals research, “Due to the impending scarcity of water, industries and organizations are obliged to treat and recycle wastewater before discharging. Coastal communities and cities are increasingly depending on seawater to meet their drinking water requirements. Desalination is gaining traction as one of the imperative methods to meet the growing requirement of potable water.”
Global desalination market: segmentation analysis
This market research report segments the global desalination market by technology (membrane and thermal) and key regions (the Americas, APAC, and EMEA).
EMEA is expected to dominate the market with a market share of 72% in 2017, followed by APAC and the Americas respectively. EMEA is expected to witness a further increase of close to 1% in its market share over the forecast period, while the other two regions namely APAC and the Americas will see a small decline in their market shares by 2022.
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