Water Treatment Systems (Point-of-Use) Market worth USD 47.32 billion by 2030, registering a CAGR of 9.31% – Report by Market Research Future (MRFR)
New York, Dec. 06, 2021 (GLOBE NEWSWIRE) — Water treatment system market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Water Treatment System Market Research Report, Information: by Technology, by Device, By End-Use, Region – Forecast till 2030” the market is projected to be worth USD 47.32 billion by 2030, registering a CAGR of 9.31% during the forecast period (2022 to 2030), the market was valued at USD 21.27 billion in 2021.
Key Players
Eminent industry players profiled in the global water treatment system market report include
- Pentair Plc. (UK)
- Panasonic Corporation (Japan)
- LG Electronics (South Korea)
- Honeywell International Inc. (US)
- Hindustan Unilever Limited (UK)
- COWAY CO.
- Ltd (South Korea)
- Culligan (US)
- Eureka Forbes (India)
- BWT Aktiengesellschaft (Austria)
- Tata Chemicals Ltd. (India)
- Global Water Solutions Ltd. (Jersey)
- Whirlpool Corporation (US).
- Among others.
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The global water treatment system market is both fragmented and also competitive due to the presence of several international as well as domestic industry players. These players have utilized innumerable innovative strategies for staying at the vanguard and also sufficing to the surging need of the customers including contracts, partnerships, collaborations, contracts, new product launches, joint ventures, geographic expansions, and more. Further, they are also investing in numerous research and development activities.
Market Research Future’s Review on Water Treatment System Market
COVID-19 Analysis
The COVID-19 outbreak has spread across the world and has affected the water treatment systems market growth considerably. Governments worldwide have imposed lockdowns that has impacted the majority of the industry players across the world and have forced people to remain at home that in turn reduced the physical interaction amid people. Different companies have enabled employees to work from their home remotely to ensure the continuity of business that is likely to impede the market growth. The restrictions imposed on construction activities for complying with the social distancing norms are likely to impede the construction industry that in turn is likely to restrict the growth of the market. The COVID-19 pandemic has led in the sealing of international borders that has caused a major decline in the need for water treatment systems and related products across the world.
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Drivers
Increasing Use in Industrial Processes to Boost Market Growth
The increasing use of water treatment in industrial processes where TDS contents, pH levels, and water hardness levels to optimum levels are needed will boost market growth over the forecast period.
Opportunities
Availability of Smart Point of Use Water Treatment Systems to offer Robust Opportunities
The emergence of the internet of things (IoT) has allowed smart water purification systems in emerging as a novel technological trend in the water purification sector. Such smart purifiers are designed strategically for replacing UV water purification systems and conventional reverse osmosis. These are convenient and compact for usage with smartphones. Water can be dispensed easily with a click. Besides, it helps to notify the user regarding the frequent filter replacement before their expiry. Also, users can set a specific timing to fill one bottle or glass and track the day to day water consumption to prevent excess use. Thus, the availability of smart point of use water treatment systems will offer robust opportunities for the market over the forecast period.
Restraints
High Equipment and Maintenance Cost to act as Market Restraint
The high cost of maintenance and equipment that have restricted the use of water treatment systems by households may act as market restraint over the forecast period.
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Challenges
Issues with Aging Infrastructure to act as Market Challenge
The issues with the aging infrastructure of water treatment systems may act as a market challenge over the forecast period.
Market Segmentation
The global water treatment system market is bifurcated based on device, technology, and end use.
By device, the counter-top units will lead the market over the forecast period.
By technology, the filtration segment will dominate the market over the forecast period.
By end use, the residential segment will spearhead the market over the forecast period.
Regional Analysis
APAC to Hold Lions Share in Water Treatment System Market
The APAC region will hold the lions share in the water treatment system market over the forecast period. Rapid urbanization, non-revenue water, rapid urbanization, the region being the world’s most rapidly urbanizing region, China being the major consumer of water treatment systems followed by Japan, increasing awareness regarding the perks of water treatment systems, increasing adoption in India, Australia, South Korea, and Japan, economic performance in China with large-scale investments in technology & research, China undertaking huge changes in sanitation and water supply scenario to overcome several challenges which also includes economic disparity between rural and urban populations and rising urbanization are adding to the global water treatment system market growth in the region. Scarcity, contamination, and water pollution are also posing challenges to the nation.
Segmentation of Market covered in the research:
Water Treatment System (Point of Use) Market Research Report, Information: by Technology (Filtration, Distillation, RO), by Device (Counter-Top Units, Faucet-Mounted Filters), By End-Use (Residential, Non-residential), Region – Forecast till 2030
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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