Cloud Seeding Equipment Market Trends

Growth Drivers

• Surge in Global Warming - Global warming is the gradual expansion in global temperature resulting from the greenhouse effect caused by elevated levels of carbon dioxide, CFCs, and other pollutants. As a result, rising temperature on earth is causing longer and hotter heat waves, more frequent droughts, and hurricanes. People face food and water scarcity, increased flooding, extreme heat, elevated disease, and economic damage as a result of global warming. As per the data provided by the National Centers for Environmental Information, the global surface temperature deviation for August 2022 was 0.90°C (1.62°F) above the average for the 20th century of 15.6°C (60.1°F), making it the sixth largest deviation for August in the 143-year record. All 10 of the hottest Augusts on record have taken place since 2009. Additionally, August 2022 was the 46th sequential August and the 452nd consecutive month with temperatures of record-warm August, which covered approximately 8.2% of the world's surface — the third-highest ratio for record-high August temperatures.
• Worldwide Escalation in Air Pollution - As per the data from the World Bank, rising level of pollution is responsible for over 11 million premature deaths worldwide.
• Increasing Trend of Weather Modification – As per a report, China conducted a weather-modification project in 2020 to produce artificial snowfall or rain over an area larger than 5.5 million square kilometers.
• Upsurge in Global Population - According to United Nations statistics, the global population is expected to reach 8.5 billion in 2030 and 9.7 billion in 2050.
• Worldwide Boost in Research and Development Investment - The Unesco Institute for Statistics reports that, with an average annual growth rate of 4.7% over the past ten years, the global R&D expenditure has significantly soared. Globally, from 1.61% in 2010 to 1.93% in 2020, the percentage of global investment in research and development has climbed dramatically.

Challenges

• High Cost of Cloud Seeding Services
• Lack of Effectiveness of Cloud Seeding Process
• Risks of Adverse Effects Associated with Chemicals Used in the Process

The global cloud seeding equipment market is segmented and analyzed for demand and supply by application into hail suppression, fog dissipation, snowfall & rainfall augmentation, and other weather modifications. Out of these, the snowfall and rainfall augmentation segment is projected to significantly grow over the forecast period on the back of rising construction activities, escalating population, and surge in urbanization. For instance, as of May 2022, India has the most infrastructure construction projects in development or execution worth more than USD 24 million.