GLOBAL WATER DESALINATION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global Water Desalination Market Size and Trends

The global water desalination market is estimated to be valued at USD 17.47 Bn in 2024 and is expected to reach USD 31.32 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.

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Rapidly depleting freshwater resources and growing global water demand are driving considerable interest in seawater desalination. Many coastal cities and island nations rely on desalination technologies to produce potable water from seawater. The market is expected to witness significant growth over the forecast period due to growing freshwater scarcity issues worldwide exacerbated by rising population levels, economic development, and climate change. Membrane technologies such as reverse osmosis are becoming increasingly prevalent as they enable lower energy consumption compared to thermal distillation methods. Critical government initiatives and funding to develop sustainable water management solutions will further support market expansion.

Scarcity of fresh water resources

The scarcity of fresh water resources has become a major global issue that is driving the growth of the water desalination market. With the growing world population and rapidly increasing industrial activities and urbanization, the demand for water is rising sharply all over the world. However, only 3% of the water on Earth is fresh water and majority of it is locked up in ice caps and glaciers. Most of the readily available fresh water sources across many regions are already overexploited or polluted.  According to experts, over 1.1 billion people globally lack access to water and a huge proportion of the world population will face water scarcity in the coming decades if sufficient augmentation of fresh water resources is not ensured. Many countries in Asia Pacific, Africa, Middle East, Australia, and Latin America are already facing severe water shortages. Rapid depletion of underground aquifers is another cause of concern. Climate change and variability in rainfall patterns, catastrophic droughts are occurring more frequently in several parts of the world, further exacerbating the water crisis. These dynamics clearly demonstrate that the limitations of natural fresh water sources are insufficient to meet the escalating demands, especially in water stressed regions. Seawater and brackish water desalination is emerging as one of the most viable solutions to overcome deficits between water demand and supply. Countries and cities are increasingly turning to desalination plants to secure alternative fresh water provision and achieve long term sustainable water management. This growing dependency on desalination for addressing fresh water needs is a major driver propelling the global market.

The massive and sustained increase in industrial production and urban population concentration worldwide have significantly raised both industrial and municipal water needs across many nations. Industries such as oil and gas, mining, energy, food and beverages, pharmaceuticals are highly water intensive. With developing economies undergoing rapid industrialization at an unprecedented scale, their manufacturing water requirements are rising exponentially and fresh water availability is failing to keep pace in several locations. At the same time, developing world urban centers are swelling with each passing year as large segments of population migrate to cities for employment and livelihood. Megacities with population exceeding 10 million people are emerging as new hubs of resource demands including fresh water.