The cloud seeding system market is expected to grow steadily with a Compound Annual Growth Rate (CAGR) of 7.4% over the forecast period. As of 2023, the current value of the cloud seeding system market stands at US$ 126.1 million.
The market value for cloud-seeding system software is projected to reach a peak of US$ 258.3 million by 2033. According to Future Market Insights, experts have observed a historical Compound Annual Growth Rate (CAGR) of 5.3% for this market.
It has been determined that dry ice, silver iodide, and potassium iodide are the most frequently used chemicals for cloud seeding.
Drivers and Challenges:
The major growth drivers of the Cloud-seeding System market include increasing demand for water sources and increasing demand from agriculture across the world. In addition, the Use of a Cloud-seeding System in dispersing fog and mitigating hail damage shall drive the growth of the Cloud-seeding System market. Advancements in the agriculture industry across the globe have led to the growth of the Cloud-seeding System across the globe.
However, the major challenge faced by the Cloud-seeding System providers are high Cloud-seeding System infrastructure cost incurred. Lack of awareness of the benefits and operational effectiveness of the technologically advanced systems may have negative impact on the Cloud-seeding System market.
Uncertainty about the deployment of these systems because of the high initial investment needed may hamper the growth of the Cloud-seeding System market across the globe.
Regional Overview:
Asia Pacific holds the largest market share for the Cloud-seeding System market due to higher dependency on agriculture on monsoon, strong economic growth, and rising demand for water owing to the rapidly expanding population.
Due to high technological advancements, North America will hold the maximum market share for Cloud-seeding Systems in the near future. Sturdy economic progress, driving the growth of Cloud-seeding System market in the MEA region. The Demand for Cloud-seeding System market has risen dramatically over the past 18 months globally.
Recent Developments:
In April 2022, the Saudi Arabia Council of Ministers announced the inauguration of a cloud seeding program over three cities to increase rainfall.
Apeiron Aerospace, a firm floated by Sanjeev Rao last year exhibited its model at India Aviation 2012 here recently. Apeiron, which has tied up with Bangalore-based Krishi Air Private Limited, feels there is a market for such UAVs in India.
In 2009, Siri Aviation, an Indian-based cloud-seeding start-up, came into existence. Founded by two software students, the company is engaged in cloud seeding which induces weather pattern modifications via injection of sodium chloride, silver iodide, and dry ice into clouds. The company offers turnkey cloud seeding solutions and has drawn up ambitious plans.
Leading Key Players:
Key players dominating the Cloud Seeding System Market include Crystal Engineering LLC, RHS Consulting, Weather Modification Inc., North American Weather Consultants Inc., Redington, Snowy Hydro Ltd., and Mettech S.p.A. These companies contribute significantly to the advancement and implementation of cloud seeding technology, playing crucial roles in weather modification and precipitation enhancement worldwide.
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