Point of Use Water Treatment Systems Market to Reach USD 34.03 Billion by 2028; Emergence of Smart Water Purifiers to Boost Growth: Fortune Business Insights™
20 Apr 2021
Pune, India, April 20, 2021 (GLOBE NEWSWIRE) -- The global point of use water treatment systems market is set to gain impetus from the rising development of smart water purification systems featuring the Internet of Things. In December 2019, for instance, Kent RO introduced a novel purifier infused with the ‘zero water wastage technology.’ It would help to residue and recycle water in such a way that not even a single drop will be wasted. This information is given by Fortune Business Insights™ in a new report, titled, “Point of Use Water Treatment Systems Market, 2021-2028.” As per the report, the market size was USD 18.52 billion in 2020 and is projected to reach USD 34.03 billion by 2028, exhibiting a CAGR of 8.1% during the forecast period.
COVID-19 Pandemic: Slight Economic Impact Backed by Operation of Essential Services
The COVID-19 pandemic has had a moderate impact on the market as the water treatment industry comes under essential services. Unlike the manufacturing sector, this industry showcased only a slight decline in terms of economy. As per a survey by the Water and Wastewater Equipment Manufacturers Association (WWEMA), more than 90% of companies reported delays in orders during the second quarter of 2020. Our accurate research report would help you get a complete picture of the current scenario of the point-of-use water treatment systems industry.
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What Does the Report Offer?
The report provides a detailed analysis of the key market aspects, namely, the dominant companies, end-users, and leading product types. Apart from this, the report contains tangible insights into the current & upcoming market trends and highlights prominent industry developments. In addition to these factors, the report supplies a holistic understanding of the main drivers, restraints, and segments that are contributing to the growth of the market.
Report Highlights
Report Coverage-
This report includes authentic data related to the change in raw material supply, new product launches, and technological advancements occurring in this industry. It delivers market dynamics based on numerous factors, such as opportunities, restraints, drivers, challenges, and trends. Besides, it will offer a complete insight from the supply side respondents related to market share, distribution, and size.
Drivers & Restraints-
Rising Prevalence of Malaria, Typhoid, and Chlorella to Augment Growth
Pathogens, such as parasitic worms, protozoa, metals, viruses, bacteria, and algae often cause various water-borne diseases. The rising prevalence of lead poisoning, chlorella, campylobacteriosis, diarrhea, typhoid, and malaria worldwide is set to propel the demand for point-of-use water treatment systems. According to the WHO, every year, around 1.5 million human deaths occur owing to water-borne diseases globally. However, the treatment filters present in these purifiers should be replaced after three to six months for maintaining the output quality of water. It may hinder the point of use water treatment systems market growth in the near future.
Segments-
RO Filters Segment to Dominate Stoked by Ability to Remove 99% of Water Contaminants
By product type, the market for point of use water treatment systems is categorized into under the counter filters, countertop filters, pitcher filters, faucet mounted filters, and others. Based on the application, it is bifurcated into residential and light commercial. Lastly, by the category, it is segregated into gravity filters, UV filters, RO filters, and others. Out of these, the UV filters segment procured 22.7% in terms of the point of use water treatment systems market share in 2020. But, the RO filters segment is set to remain at the forefront throughout the forthcoming years fueled by their ability to treat hard water efficiently and remove 99% of germs from water.
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Regional Insights-
Increasing Urbanization and Awareness Programs to Help Asia Pacific Lead
Geographically, Asia Pacific held USD 7.19 billion in terms of revenue in 2020 and is likely to be the fastest-growing region throughout the forthcoming years. This growth is attributable to the rapid urbanization taking place in developing countries. Also, the surging awareness about the benefits of point of use water treatment systems, especially in Japan and China would aid growth. Europe, on the other hand, remained in the second position in 2020 on account of the rising consumption of water for household applications in Germany and the U.K. In North America, the market is anticipated to grow steadily backed by the presence of numerous commercial manufacturers of these systems.
Competitive Landscape-
Key Players Focus on Broadening Their Geographic Presence by Launching New Products
The global market contains a large number of companies that are majorly investing in launching new products to expand their footprint across the globe.
A list of prominent providers of point of use water treatment systems in the global market:
Some of the key industry developments in the Point of Use Water Treatment Systems Market are:
February 2019: BRITA introduced a new line of MyPure Max water purifiers in India. The company is planning to invest around €5 million to enhance business in the country. These purifiers will be available in Bengaluru for now and feature state-of-the-art RO membranes.
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Water Purifier Market Size, Share & Industry Analysis, By Product Type (Point-of-use Filters {Under the Counter Filters, Counter Top Filters, Pitcher Filters, Faucet-mounted Filters and Others} and Point-of-entry Filters), By Category (RO Filters, UV Filters, Gravity Filters and Others), By Application (Residential and Commercial) and Regional Forecast, 2020-2027
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