Product Code: RP-ID-10000049 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: ICT & Telecom |
Report ID: 10000049
Market Overview:
Cloud Seeding Equipment Market: Global Demand Analysis & Opportunity Outlook 2024
Global cloud seeding equipment market reached USD 97.7 Million in 2016 and is expected to register a CAGR of 7.1% across the globe during 2017-2024. Moreover, the market is expected to garner USD 165.1 Million by the end of 2024. Further, the market of cloud seeding is anticipated to achieve a Y-o-Y growth rate of 9.1% in 2024 as compared to the previous year.
Asia Pacific is slated to account for a leading share of 38.9% by 2024 in the cloud seeding equipment market. The growth in the region can be attributed to decline in rainfall rate across the globe due to global warming and pollution. Moreover, Asia Pacific cloud seeding equipment market is expected to garner USD 69.5 Million by the end of 2024. China is the prominent market in the region.
Europe market is expected to expand at a significant CAGR of 5.5% during the forecast period i.e. 2017-2024. Increasing threat for water scarcity in European countries is driving the growth of market of cloud seeding equipment market in the Europe region. Russia & Germany are the major contributor to the growth of cloud seeding equipment market.
Germany is projected to grab 18.0% market share in global cloud seeding equipment market by the end of 2024. Further, Germany cloud seeding equipment market is expected to grow at a CAGR of 5.2% over the forecast period. Further, the market of cloud seeding equipment in Germany is expected to achieve Y-o-Y growth rate of 7.2% in 2024 as compared to previous year.
North America is expected to witness lucrative growth over the forecast period i.e. 2017-2024 by registering a CAGR of 6.9% over the forecast period. Global cloud seeding equipment market is segmented on the basis of mode of seeding into aerial cloud seeding and ground based cloud seeding. Further, aerial cloud seeding segment (61.5% share in 2016) occupies the largest market of cloud seeding across the globe. Further, aerial cloud seeding segment is anticipated to reach USD 97.6 Million by the end of 2024 from USD 67.6 Million in 2016. Moreover, aerial cloud seeding segment is anticipated to flourish at a CAGR of 6.5% over the forecast period.
Cloud seeding equipment market is also segmented by application into fog dissipation, hail suppression, snowfall and rainfall augmentation, other weather modifications , out of which, snowfall and rainfall augmentation captured 60.3% market share the overall cloud seeding equipment market in 2016.
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