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As demand for fresh water continues to rise all over the world, desalination is becoming an increasingly appealing option for both municipal and industrial applications. This trend will lead to a solid growth of the global water desalination equipment market, which is expected to soar to $15.3 billion by 2018, with an estimated compound annual growth rate of 9.1 percent, a new report by Research and Markets has predicted.
Apart from soaring demand, another key driver that will push the global desalination equipment market is cost. As technology advances and companies develop new desalination methods, the process becomes less energy-intensive and more cost-effective, meaning that the benefits of desalination systems are starting to outweigh the disadvantages.
Desalination for municipal use is likely to expand, with the technology used to turn available water resources into potable water for end-user consumption. However, demand is also rising among several industrial sectors, including oil and gas, chemicals and mining, Research and Markets said.
The Middle East is currently the biggest market for desalination equipment, as many states in the region have few other sources of fresh water. However, other regions, including Asia-Pacific, the United States and Europe, have the potential to expand their desalination markets due to an increasingly wide range of applications for fresh water. Environmental policies in Asia-Pacific and Africa are likely to drive significant gains on the market, the report predicted.