“Growing awareness about the benefits of water treatment and technological innovations are projected to drive the growth of the point-of-use water treatment systems market”
The point-of-use water treatment systems market is projected to grow from USD 19.9 billion in 2018 to USD 32.7 billion by 2023, at a CAGR of 10.41% during the forecast period. The point-of-use water treatment systems market has been growing due to the increasing demand for clean drinking water, growing awareness about the benefits of water treatment, and technological innovations in the water treatment industry.
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The faucet-mounted segment is projected to be the largest contributor to the point-of-use water treatment systems market during the forecast period, in terms of value
The faucet-mounted segment is projected to dominate the point-of-use water treatment systems market, in terms of value, during the forecast period. Faucet-mounted filters are relatively cheaper and easy to install. They can be pivoted to an on-off position, which allows users to collect filtered drinking water, which can even be used for cooking. Also, the filtration speed is fast enough to use the water for cooking. The tap faucet water filters are environment-friendly as they do not produce waste water and don’t need electricity to work.
The reverse osmosis technology is projected to hold the largest market share during the forecast period
The reverse osmosis technology accounted for the largest share in the point-of-use water treatment systems market, in terms of value, in 2018, and will continue to hold its market position throughout the forecast period. This dominance is attributed to its numerous benefits, including capability of removing up to 99% of dissolved contaminants found in feed water, and improving the taste and color of water; simple maintenance, and removal of contamination such as, lead, chlorine & chloramine, nitrates, pesticides, sulfates, fluoride, bacteria, pharmaceuticals, and arsenic. The filtration segment followed the reverse osmosis segment, in terms of market share in the point-of-use water treatment systems market, in 2018.
The Asia Pacific is projected to record the highest growth rate during the forecast period
The Asia Pacific is projected to record the highest growth rate during the forecast period. Key factors such as rapid urbanization, growing awareness about water purification technologies, growth in the middle-class population, and rise in disposable income are factors projected to drive the demand for point-of-use water treatment systems in the Asia Pacific, during the forecast period. Additionally, the increase in water contamination and a shortage of clean drinking water supply have led to an increase in the demand for point-of-use water treatment systems. The major markets in this region are emerging economies such as China and India, and mature markets such as Japan and Australia.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the point-of-use water treatment systems market.
- By company type: Tier 1: 40%, Tier 2: 25%, and Tier 3: 35%
- By designation: C-Suite: 35%, Directors: 30%, and Others 35%
- By region: APAC: 45%, North America: 25%, Europe: 20%, South America: 5%, and MEA: 5%.
The point-of-use water treatment systems market comprises major manufacturers, such as Honeywell International (US), Pentair (UK), Panasonic Corporation (Japan), Unilever (UK), LG Electronics (South Korea), Coway (South Korea), BWT (Austria), Toray Industries (Japan), Brita (Germany), Alticor (US), 3M Company (US), GE Appliances (US), DowDuPont (US), Tata Chemicals (India), KENT RO (India), Eureka Forbes (India), Whirlpool Corporation (US), Culligan International (US), Instapure Brands (US), Helen of Troy Limited (US), A.O. Smith Corporation (US), Kinetico Incorporated (US), EcoWater Systems (US), and WestAqua-Distribution OU (Russia).
- The market study covers the point-of-use water treatment systems market across segments. It aims at estimating the market size and the growth potential of this market, across different segments, such as device, technology, application, and region.
- The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
- The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall point-of-use water treatment systems market and the subsegments.
- This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.