The water filters market is estimated to be USD 10.8 billion in 2018 and is projected to reach USD 14.7 billion by 2023, at a CAGR of 6.3%
NEW YORK, Dec. 18, 2018 /PRNewswire/ -- The water filters market is projected to register a CAGR of 6.3% between 2018 and 2023
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The water filters market is estimated to be USD 10.8 billion in 2018 and is projected to reach USD 14.7 billion by 2023, at a CAGR of 6.3%. The growth in food & beverages, chemicals & petrochemicals, pharmaceuticals, and oil & gas industries is driving the demand for water filters. However, patented products and high raw materials cost are some of the potential restraints for the growth of the water filters market.
Single & dual phase is the fastest-growing media type segment of the water filters market
By media type, the single & dual phase segment is projected to register the highest CAGR during the forecast period.There is a growing demand for single & dual phase media due to its multiple uses.
The segments' growth is also driven by the growth in food & beverages, chemicals & petrochemicals, pharmaceuticals, oil & gas industries.
Asia Pacific expected to be the largest market for water filters
By region, the Asia Pacific water filters market is projected to register the highest CAGR between 2018 and 2023.This growth projection is mainly attributed to the growing population, increasing urbanization & modernization, and increasing concerns related to the use and reuse of water and wastewater.
China is estimated to be the largest contributor to the Asia Pacific water filters market.
Food & beverages to be the largest end-use industry segment of the water filters market
Based on end-use industry, the food & beverages segment is projected to register the highest CAGR between 2018 and 2023.This growth is mainly attributed to the growing population, increasing urbanization, and rising number of working women.
Increasing health issues caused due to impure water particles & contaminants act as a major driver for the water filters market. The food & beverage industry uses a huge quantity of water for processing and other procedures.
Breakdown of primary interviews for the report on the water filters market:
• By Company Type – Tier 1 – 20%, Tier 2 –45%, and Tier 3 – 35%
• By Designation – D-Level Executives – 20%, C-Level – 25%, and Others – 55%
• By Region – North America – 10%, Europe- 20%, Asia-Pacific– 50%, Middle East & Africa – 15% and South America- 5%.
The leading water filters manufacturers, globally, profiled in this report include Eaton Corporation (US), Suez Water Technologies & Solutions (France), Veolia (France), Dow Water & Process Solutions (US), Evoqua Water Technologies (US), Mann-Hummel (Germany), Pall Corporation (US), Pentair PLC (UK), and Lydall Industrial Filtration (US).
Research Coverage:
The report covers the water filters market on the basis of media type, end-use industry, and region.This report aims at estimating the size and future growth potential of the water filters market across various segmentation types.
The report also includes an in-depth competitive analysis of the key market players along with their profiles and key growth strategies.
Key Benefits of Buying the Report:
From an insight perspective, this report has been focusing on various levels of analyses, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the water filters market, high-growth regions, and drivers, restraints, opportunities, and challenges in the water filters market.
The report provides insights on the following pointers:
• Market Penetration: A comprehensive information on various media types of water filters offered by top players operating in the water filters market.
• Product Development/Innovation: A detailed insight into upcoming water filters, R&D activities, and new applications in the water filters market.
• Market Development: A comprehensive information about the lucrative and emerging markets. The report analyzes the markets for water filters across different regions.
• Market Diversification: An exhaustive information about new products, untapped geographies, recent developments, and investments in the water filters market.
• Competitive Assessment: An in-depth assessment of strategies, products, and manufacturing capabilities of leading players in the water filters market.
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