Enjoy complimentary customisation on priority with our Enterprise License!
The subsea desalination market size is estimated to grow at a CAGR of 14.48% between 2023 and 2028. The market size is forecast to increase by USD 242.53 million. The growth of the market depends on several factors such as the increase in population and a rise in demand for consumable water, an increase in demand for membrane technology, and change in climatic conditions and increased investments.
This subsea desalination market report extensively covers market segmentation by technology (reverse osmosis, electrodialysis, and others), type (floating desalination platform and deep sea desalination platform), and geography (Middle East and Africa, APAC, Europe, North America, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
To learn more about this report, View Report Sample
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
An increase in demand for membrane technology is the key factor driving the market growth. As filtration technology enhances with advancements in membrane technology, membranes will attain popularity in desalination installations. Membrane technology plays an important role in energy and water sustainability. RO is one of the membrane-based processes that are broadly embraced by the global subsea desalination market. It is considered the most energy-efficient and green technology for subsea desalination.
Moreover, membrane technologies such as RO are witnessing increasing demand due to their high energy efficiency and high-degree output with a minimum level of water input, they are adopted at a faster rate compared with other filtration techniques, such as MED and MSF. Therefore, the rising demand for membrane-based technologies such as RO is anticipated to boost the growth of the market during the forecast period.
Advances in energy-recovery techniques is the primary trend shaping market growth. It takes a significant amount of energy and significant CAPEX to convert seawater into fresh water. Energy recovery devices are widely used in reverse osmosis seawater desalination plants to recover pressure from the membrane waste stream and return it to the process. A well-designed energy-recovery system is necessary for every RO desalination plant.
Moreover, with the help of isobaric energy recovery device technology, waste energy generated from the RO systems can be recovered from the concentrate flow. This increasing upgrade in energy recovery systems is the key trend that will drive the growth of the global desalination market during the forecast period.
High costs in initial investment of subsea desalination plants is a challenge that affects market growth. Although the cost of subsea desalination has decreased in recent years, the capital expenditure (CAPEX) associated with establishing a desalination plant remains high. The cost of producing desalinated water depends on many factors, including energy consumption efficiency, plant capacity, energy source, proximity to water source, and project finances. In addition, the operation cost of desalination plants that are located in coastal areas and inland areas is high, owing to the high costs imposed on transporting seawater to inland states.
Furthermore, the equipment used in desalination plants is prone to corrosion because of their increased exposure to saltwater and contaminated water. Thus, they require an adequate maintenance system to limit the impact caused by corrosion. These high costs involved in desalination plants will impede the growth of the global subsea desalination market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Subsea Desalination Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The reverse osmosis segment is estimated to witness significant growth during the forecast period. Reverse osmosis (RO) is a technology that uses a semi-permeable membrane to remove dissolved salts or organic molecules from water by cleaning, purifying, and disinfecting. RO has become the dominant desalination method due to its efficiency, scalability, and ability to produce high-quality freshwater from seawater or brackish water sources.
Get a glance at the market contribution of various segments View the PDF Sample
The reverse osmosis segment was the largest segment valued at USD 145.78 million in 2018. The growth of the RO segment can be attributed to advancements in membrane technology and improvements in the design of RO systems, which enhanced the efficiency and performance of RO desalination. As surface seawater sources become more challenging to access due to pollution and environmental concerns, deep seawater is gaining prominence. RO is well suited for these applications, as it can effectively treat deep ocean water, which is typically cleaner and has a lower level of pollutants. The increase in demand for subsea desalination is expected to significantly boost the growth of the RO segment during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
Middle East and Africa is estimated to contribute 89% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. MEA has abundant fossil fuel resources. However, the region is experiencing water shortages, increasing the need for desalination plants to obtain clean and disinfected water. These factors will determine the overall demand for desalination equipment in the region. The growing demand for seawater filtration has encouraged a number of suppliers to open new water treatment facilities in the region.
Moreover, the growth of the subsea desalination market in the region can be attributed to the presence of numerous countries with inadequate freshwater resources and high investment capabilities to harness desalination techniques to meet their constant rise in demand for consumable water. Furthermore, the region exhibits an increasing demand for membrane technology, particularly RO, because of its cost-effectiveness and reduced energy consumption. Thus, such factors will boost the growth of the regional subsea desalination market during the forecast period.
In 2020, the outbreak of COVID-19 had a negative impact on the subsea desalination market in MEA due to delays in desalination projects and the low availability of skilled labor. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of the stalled projects, which propelled the growth of the regional subsea desalination market in 2021. Furthermore, the region's arid climate and water scarcity issues, rapid urbanization, industrial growth, availability of abundant seawater resources, and high dependence on desalination for freshwater supply will boost the growth of the subsea desalination market in MEA during the forecast period.
The subsea desalination market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
|
Subsea Desalination Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
174 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 14.48% |
|
Market Growth 2024-2028 |
USD 242.53 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
12.07 |
|
Regional analysis |
Middle East and Africa, APAC, Europe, North America, and South America |
|
Performing market contribution |
Middle East and Africa at 89% |
|
Key countries |
South Africa, Oman, United Arab Emirates, Egypt, and Japan |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Acciona SA, Aquatech International LLC, Baker Hughes Co., CK Hutchison Holdings Ltd., Deep Ocean Water Company LLC, DuPont de Nemours Inc., EnviroNor, Flocean Green, ForeverPure Corp, Guangzhou KangYang Seawater Desalination Equipment Co. Ltd., IDE Water Technologies, Makai Ocean Engineering Inc., Marine Water Production AS, Nereo Technologies, Ocean Oasis AS, Parker Hannifin Corp., Sep Pro Systems Inc., SUEZ SA, Sulzer Management Ltd., Toray Industries Inc., Waterise AS, and Worley |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
