Point of Use Water Treatment Systems Market Growth Status, Size, Share Anal
by Bhagyashri Bhole in Accuracy in Media
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.
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
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: https://www.fortunebusinessinsights.com/point-of-use-water-treatment-systems-market-102814
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.
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.