CLEVELAND, Feb. 18, 2016 /PRNewswire/ -- Global demand for consumer water treatment systems will advance nearly 12 percent annually to $16.3 billion in 2019. Gains will be driven primarily by increasing market penetration in less developed markets, such as China, India, other developing Asian countries, and much of the Africa/Mideast region. In these areas, rising incomes, coupled with increasing concerns about poor water quality and expanding consumer awareness about the types of water treatment systems available, will propel demand growth. Economic improvement in several of the more developed geographic markets, particularly where there are ongoing recoveries in housing markets, will also support gains. These and other trends are presented in World Consumer Water Treatment Systems, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.
To learn more, visit the report page: http://www.freedoniagroup.com/DocumentDetails.aspx?ReferrerId=RF-PRNEWS&StudyID=3360
The reasons for market growth vary significantly between developing and developed markets. In developing markets, water quality is typically poor, supplies are stressed, and public treatment infrastructure is insufficient where available. Therefore, some additional step is needed to remove biological contaminants, sediment, and chemicals that can negatively impact health. According to analyst David Petina, "Consumers are increasingly adopting supplemental water treatment systems instead of boiling or using bottled water." In contrast, publicly treated, high quality water is widely available in developed markets, particularly in urban areas. Therefore, consumers often purchase water treatment systems to improve aesthetic traits such as taste and smell, although more advanced products that are designed to remove contaminants not regulated by public water authorities are also purchased.
Demand for consumer water treatment systems will generally increase three to five percent annually in developed markets through 2019. While these gains are healthy, they are significantly behind the growth rates in developing regions, several of which are expected to see their sales double over the forecast period. China was the largest market for these systems in 2014, with 26 percent of global sales, and will achieve the second fastest growth rate through 2019. As a result, China will account for 40 percent of additional worldwide sales between 2014 and 2019. India will see the fastest gains over the forecast period, rising 18 percent annually through 2019, albeit from a smaller base. In both of these countries, a large population and poor water quality will support strong growth, even though overall market penetration remains low.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. Reports can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group