Point of Use (POU) Water Treatment Systems Market Size to Reach USD 32.20 Billion by 2027; Rising Number of Water-borne Diseases Will Augment Growth, Says Fortune Business Insights™
Key companies profiled are Global Water Solutions Ltd., Panasonic Corporation, Best Water Technology Group, Katadyn Group, General Ecology Inc., A. O. Smith Corporation, Culligan International Company, LG Electronics, Kent RO Systems Ltd., Eureka Forbes Ltd., among others
PUNE, India, May 26, 2020 /PRNewswire/ -- The global point of use water treatment systems market size is anticipated to witness significant growth on account of the increasing levels of water pollution, attributed to the rise in urbanization and industrialization, coupled with the increasing importance of clean water. As per a recent report by Fortune Business Insights titled, "Point of use water treatment systems market Size, Share & Industry Analysis, By Product Type (Under The Counter Filters, Counter Top Filters, Pitcher Filters, Faucet-mounted Filters, and Others), By Category (RO Filters, UV Filters, Gravity Filters, and Others), By Application (Residential and Light Commercial) and Regional Forecast, 2020-2027," the market value stood at USD 17.30 Billion in 2019 and is anticipated to rise at a CAGR of 8.1% to reach USD 32.20 Billion by 2027. The outbreak of COVID-19 is expected to have a significant impact on the growth of the market. The year-on-year growth rate is estimated to decline for the next two years as compared to the earlier. Therefore, the market is expected to grow at a lower CAGR during the forecast period.
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List of key Companies Profiled in the vendors in the Point of Use (POU) Water Treatment Systems Market Research Report are:
- Global Water Solutions Ltd. (USA)
- Panasonic Corporation (Japan)
- Best Water Technology Group (Austria)
- Katadyn Group (Switzerland)
- General Ecology Inc. (USA)
- A. O. Smith Corporation (USA)
- Culligan International Company (USA)
- LG Electronics (South Korea)
- Kent RO Systems Ltd. (India)
- Eureka Forbes Ltd. (India)
- Brita LP (USA)
- Unilever PLC (UK)
- Helen of Troy Limited (USA)
- Coway Co. Ltd. (South Korea)
- Pentair PLC (USA)
- Other vendors
The Report Answers the following Questions?
- How fierce is the competition of the market?
- What are the key trends, and current industry developments of the market?
- Which strategies are executed by market players? How far is the success rate?
- What is the impact of smart purifiers on the point of-use water treatment system market?
Drivers & Restraints:
Advent of Smart Water Treatment Systems will Add Impetus to Market
The increasing levels of water pollution, rise in prevalence of water-borne diseases such as typhoid, cholera, malaria, anemia, dengue, and others, and the rising importance of clean drinking water are the major point of use water treatment systems market growth drivers. In addition to this, the implementation of advanced technology in terms of water purification systems primarily focuses on removing harmful contaminants, and complete water purification for home and light commercial buildings, thereby adding impetus to the market.
On the negative side, water purification systems such as ultra-violet filters and reverse osmosis filters are expensive and the maintenance costs of such systems are also high. This poses a major challenge to the market. Nevertheless, the introduction of the Internet of Things and the advent of smart point of-use water treatment systems may create lucrative growth opportunities for the market in the coming years.
Browse Summary of This Research Insights with Detailed TOC:
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Segment:
RO Filters Segment to Dominate Owing to High Preference for Treating Hard Water
Based on category, RO filters segment dominated the market was dominated in 2019 on account of the highly advanced membrane filtration technology that guarantees 99% of the germ removal from water, thereby offering pure water. Besides this, RO filters are also considered to be the best solution for treating hard water. However, the UV filters segment earned a 22.8% share in the market.
Regional Analysis-
Asia Pacific to Register Fastest Growth Rate Owing to Increasing Adoption of Water Treatment Systems
Asia Pacific earned the largest point of use water treatment systems market share and is expected to rise at a CAGR of 9.7% in the forecast period. Factors attributed to the growth of this region are rising awareness about the advantages of water treatment systems. In addition to this, China is one of the major consumers of water treatment systems. This is followed by Japan, Australia, and South Korea. Other regions such as North America and Europe are anticipated to register considerable growth in the foreseeable future. In 2019, the market in North America earned USD 4.29 billion on account of the presence of large commercial manufacturers and the well-established distribution network in the region.
Competitive Landscape-
Key Players Invest in R&D of Better Water Treatment Systems for Better Revenue Generation
Currently, the market is fragmented on account of the presence of many players. A majority of players are engaging and investing massively on research and development of several point of-use water treatment system products with higher efficiency and at reasonable operational costs. Such initiatives taken by companies will help them gain a competitive edge in the market.
Some of the key Industry Developments of the Point of use water treatment systems market are listed below:
February 2019 – Brita, a German water purifier company entered India with its latest range of water purifiers called "MyPure Max". Brita also invested an esti9mated USD 5.3 million and more into this new project located in India to launch its products at low prices, thereby expanding its portfolio across the Indian market.
December 2019 – A new water purifier was introduced by Kent RO systems with the latest zero wastewater technology. Kent RO Systems aims at reducing the wastewater and recycle as much water as possible, without compromising with the mineral contents.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends in Global Market
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Key developments: Acquisition, Collaboration, Strategic Partnership, and Joint Venture
- Global Point of use water treatment systems market Analysis, Insights and Forecast – By Product Type, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Under the counter filters
- Counter top filters
- Pitcher filters
- Faucet-mounted filters
- Others
- Global Point of use water treatment systems market Analysis, Insights and Forecast – By Category, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Category
- RO filters
- UV filters
- Gravity filters
- Others
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