PUBLISHER: The Business Research Company | PRODUCT CODE: 1543841
PUBLISHER: The Business Research Company | PRODUCT CODE: 1543841
Marine water desalination refers to the process of removing salt and minerals from seawater to produce fresh water suitable for various applications such as ships' crew and for operational needs. This technology is particularly vital in regions where fresh water is scarce, but seawater is abundant, such as coastal areas. Marine desalination systems are used by a variety of vessels, including navy ships, passenger ships, yachts and merchant ships, to ensure a reliable supply of fresh water during their voyages.
The marine water desalination market consists of sales, by entities (organizations, sole traders and partnerships), of desalination services and solutions. These services are critical for providing access to clean water, ensuring compliance with water quality standards and supporting water scarcity solutions in arid and semi-arid regions.
The global marine water desalination market was valued at $6,359.47 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 8.00%.
Increasing Industrialization Across Various Sectors
Increasing industrialization across various sectors drove the growth of the marine water desalination market during the historic period. Many industries are located near coastal areas for logistical advantages like shipping and global market access. Coastal sites also prove advantageous for seawater desalination plants, offering proximity to seawater as a raw material and facilitating straightforward brine discharge into the ocean. For instance, in October 2023, according to reports published by the National Bureau of Statistics (NBS) of China, the country's industrial output increased 4.6% year over year in October, exceeding forecasts of a 4.4% increase. This growth was faster than the 4.5% rate observed in September. Additionally, in July 2023, according to data released by the Ministry of Statistics and Program Implementation, India's industrial production index increased by 5.2% in May 2023 compared to 4.2% in April 2023. The manufacturing sector, which accounts for almost three-quarters of industrial production growth (IIP), expanded by 5.7% in May 2023 compared to 4.9% in April 2023, according to data from the National Statistical Office (NSO). Therefore, increasing industrialization across various sectors supported the growth of the marine water desalination market.
Innovative Solar-Powered Desalination Technologies To Revolutionize Freshwater Production
Major companies operating in the marine water desalination market are developing innovative technologies, such as solar-powered desalination systems, to produce freshwater from seawater at a lower cost than tap water. Solar-powered desalination systems are innovative technologies that utilize solar energy to convert seawater into potable water. For instance, in September 2023, the engineers of the Massachusetts Institute of Technology (MIT) Corporation, a US-based private land-grant research university, launched a solar-powered desalination device, a completely passive solar-powered desalination system that uses multiple layers of flat solar evaporators and condensers lined up in a vertical array and topped with transparent aerogel insulation. This system avoids salt-clogging issues by using natural convection to drive the desalination process, which prevents salt accumulation and allows for high-performance and reliable operation, even under extreme conditions. These innovations in solar desalination technology have the potential to address water scarcity in developing countries and provide a more sustainable and cost-effective solution for producing freshwater.
The global marine water desalination market is highly concentrated, with a few large players operating in the market. The top ten competitors in the market made up 63.33% of the total market in 2023.
Marine Water Desalination Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global marine water desalination market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for marine water desalination? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The marine water desalination market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider marine water desalination market; and compares it with other markets.