Global Residential Water Filtration Parts & Accessories Outlook Report 2023-2029: Rise in Adoption of Smart Filtration Systems, Potential in Aftermarket Fueling Growth
DUBLIN, Feb. 22, 2024 /PRNewswire/ -- The "Global Residential Water Filtration Parts & Accessories Market - Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The global residential water filtration parts & accessories market was valued at USD 9.50 billion in 2023 and is expected to reach a value of $13.88 billion by 2029, grow at a CAGR of 6.52%
The global residential water filtration parts & accessories market is highly competitive, with the presence of a large number of vendors. Advanced filtration technologies are key as consumers expect continuous product innovations and upgrades. The existing scenario drives vendors to alter and refine their unique value proposition to achieve a strong market presence.
Further, the key players in the global residential water filtration parts & accessories market are 3M, Culligan, Pentair, A.O. Smith, and APEC Water Systems. As global players are likely to increase their footprint in the market, regional vendors will likely find it increasingly difficult to compete with global players.
The competition will be based solely on features such as filtration method, quality, quantity, technology, services, price, and distribution. The market competition is expected to intensify further with increased product and after-service extensions, technological innovation growth, and mergers and acquisitions. Other significant determinants include durability, warranty, footprint, filter replacement cycle, annual and ongoing expenses, design, and compatibility.
APAC holds the most significant share of the global residential water filtration parts & accessories market share, accounting for over 38% of the global share in 2023. The APAC region, expected to account for over 70% of the middle-class population by 2030, possesses huge potential for appliances like water filters with rising environmental concerns.
Moreover, the rising groundwater depletion in countries like India can stimulate market demand in price-sensitive nations. Also, the high concentration of industries in China, Japan, and South Korea eventually increases the threat of pollution and contamination in drinking water sources. Poor sewage disposal mechanisms, low and ineffective public water treatment plants, and high incidence of waterborne diseases like typhoid are expected to propel the demand for filtration systems.
MARKET TRENDS & DRIVERS
Rise in Adoption of Smart Filtration Systems
Advancements in filter materials, including self-cleaning mechanisms and high-capacity membranes, are improving performance and extending filter lifespans. Integration of smart features such as automatic filter replacements, water quality monitoring, and connectivity with home automation systems is gaining traction in the residential water filtration parts & accessories market. Integrating smart technology with residential water filtration systems is increasingly gaining traction.
These systems provide various features, including remote monitoring and control, leak detection and automatic shutoff, and personalized filtration settings. These innovations may lead to higher-priced parts and accessories but provide improved convenience and user experience. Cartridge service life and replacement reminder, calculation of money saved compared to bottled water, number of plastic bottles and CO2 saved, and mapping of local public drinking water sources are some of the other major features provided.
Importance of Reverse Osmosis (RO) Filtration Systems
Over the past decade, Reverse Osmosis has been accepted as one of the most prominent forms of filtration technology for water treatment systems. It removes the dissolved inorganic solids, including magnesium and calcium ions, from the potable water by forcing them into a semipermeable membrane under pressure to remove the contaminants.
It is often combined with other technologies like mechanical (sediment) filters and activated carbon filters for enhanced results. Multistage filtration membranes in the RO systems make it the most expensive water treatment system in the residential water filtration parts & accessories market. The systems are increasingly preferred in households of developing economies due to their pollutant removal effectiveness.
The RO membranes have become an ideal solution for homes with salty water sources where it eliminates the risk of high sodium intake. Brands like iSpring offer 5-stage reverse osmosis filters for under-the-sink installation that can remove 99.9% of the contaminants in water.
INDUSTRY RESTRAINTS
Adherence to Standards and Certifications
The market for water filters is competitive globally; it highly demands the validation of the performance and quality of the filters from the manufacturer's end to ensure the safety and standard of their product. Filter, membrane testing, and other certification programs help enhance the positive customer perception and demonstrate that it adheres to local and international guidelines and regulations.
Though there are no federal regulations for water filter systems, RO systems, and other cleaners, voluntary national standards and NSF international protocols have been developed as minimum requirements for ensuring safety and performance. Certifications like NSF/ANSI are required as a priority by the majority of the retailers as well. The circumstances can be more challenging for international players venturing into other regions where adhering to domestic guidelines can be an additional burden to establish themselves.
SEGMENTATION INSIGHTS
INSIGHTS BY PARTS & ACCESSORIES
The cartridge filter parts & accessories segment is expected to be the largest revenue segment of the global residential water filtration parts & accessories market. Cartridge filters have gained widespread popularity in residential water filtration due to their user-friendly features, cost-effectiveness, adaptability, and convenience.
The substantial aftermarket revenue generated by the continuous demand for replacement cartridges further highlights their prominence as a key segment in the continually expanding market. Cartridges are available in several pore sizes and filter media, catering to water quality concerns and user preferences.
INSIGHTS BY CARTRIDGE FILTERS
The global residential water filtration parts & accessories market by cartridge filters is segmented into sediment filters, activated carbon filters, ro membranes, and others.
In 2023, the sediment filters segment accounted for the largest revenue share of the global market. Sediment filter captures and filters dirt, debris, and other contaminants from water. They are designed to remove the suspended sediments and particulates. Whole house filtration systems also utilize sediment filters to eliminate particulate matter from entering faucets and shower systems.
The segment is highly significant as a pre-filter for other filtration systems like reverse osmosis or UV treatments. Surface and depth filters are some of the commonly deployed sediment filters in the market.
INSIGHTS BY APPLICATION
The global residential water filtration parts & accessories market by application is segmented into the whole house, under the sink, countertop, pitchers & dispenser, faucet, shower mounted, and inline. The whole house application segment holds the largest revenue segment of the global market in 2023. Consumers prefer whole house water systems for their chlorine and odor-free water, softer skin and hair, bottled quality drinking water, scale-free pipes and fixtures, and home appliances like refrigerator protection.
Furthermore, the capacity of the water filter, flow rate (gallons per minute), and type of filtration method are the major determining factors for adopting whole-house water filtration systems. Proper sizing of the whole house filter will ensure its optimum functioning at peak hours when there is a requirement for filtered water for numerous applications like cooking, drinking, bathing, and laundry.
They can also accommodate softeners that remove hard water stains and appliance corrosion. The most common whole-house water filter systems utilize reverse osmosis filtration technology. Culligan, Pentair, APEC, iSpring, Aquasana, and SpringWell are key players in the whole-house residential water filtration parts & accessories market. Culligan offers Filtr-Cleer filters for well water and Medallist Series as economical and low maintenance range.
INSIGHTS BY DISTRIBUTION CHANNEL
The offline distribution channel segment is expected to be the largest revenue segment of the global residential water filtration parts & accessories market. The water filter parts and accessories are mainly sold through retail distribution channels such as specialty stores, hypermarkets, and certain home improvement stores.
The distribution environment is rapidly evolving, with systems and processes being upgraded at a rapid pace. Mostly, offline distribution through specialty, brick-and-mortar stores have an edge over certain counterfeit products from unauthorized sellers in e-commerce. Vendors in the residential water filtration parts & accessories market have a lot of opportunities to explore and sell their products through this segment, owing to the larger customer outreach these possess. Since these stores offer multiple categories of products under one roof, it is convenient for customers to purchase everything needed at once.
Market Opportunities & Trends
- Deteriorating Water Quality
- Rise in Adoption of Smart Filtration Systems
- Growing Demand for Point of Use (Pou) Systems
Market Growth Enablers
- Increasing Awareness of Water-Borne Diseases
- Importance of Reverse Osmosis (Ro) Filtration Systems
- Potential in Aftermarket
Market Restraints
- Low Penetration and High Maintenance Costs
- Excellent Tap Water Quality in Developed Economies
- Adherence to Standards and Certifications
Key Company Profiles
- 3M
- Culligan
- Pentair
- A.O. Smith
- APEC Water Systems
Other Prominent Vendors
- BRITA
- Whirlpool Corporation
- Doulton
- SpringWell Water Filtration Systems
- Berkey Filters
- Toray Industries
- Watts
- GE Appliances
- BWT
- CINTROPUR
- Coway
- Rainsoft
- iSpring Water Systems
- GHP Group
- Express Water
- AquaHomeGroup
- Aquafilter
- SoftPro Water Systems
- Woder
- Waterdrop
For more information about this report visit https://www.researchandmarkets.com/r/2upo2w
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