Shortage of water drives demand
The Indian desalination plant was valued is projected to grow at a CAGR of 8.9% to reach US$1.4 billion by 2024, up from US$940 million in 2018, according to a ResearchAndMarkets report.
Demand growth would be driven by expanding industrial and construction activities, rapid urbanization, rising shortage of ground water and the increasing water demand-supply gap, said the report “India Desalination Plant Market By End-Use Sector (Industrial, Municipal and Power), By Technology (Membrane, Thermal and Hybrid), Competition Forecast & Opportunities, 2024”, released on 1 Aug 2019.
Moreover, the government as well as industry players are gradually shifting their focus towards desalination technology, which can offer a sustainable and economical alternative to conventional water treatment technologies in the country.
This factor is further anticipated to fuel growth in the market.
Some of the major players operating in the Indian desalination plant market are VA Tech Wabag Ltd, Thermax India Limited, Ion Exchange India Limited, Doshion Veolia Water Solutions Pvt. Ltd., IDE Technologies India Pvt Ltd, Suez Water Technologies & Solutions, Aquatech Systems Asia Pvt Ltd, Hitachi Plant Technologies India Pvt Ltd, National Institute of Ocean Technology, Hyflux Engineering (India) Private Limited, among others. fiinews.com