The global residential water treatment equipment market is segmented into product type such as point of use system and point of entry system. Among these segments, point of use segment is expected to occupy top position in the overall residential water treatment equipment market during the forecast period. Increasing demand for high quality and clean water for drinking and cooking is expected to intensify the growth of this segment. Further, rising awareness about safe and reliable drinking water is likely to intensify the growth of point of use residential water treatment equipment market.
Global residential water treatment equipment market is expected to flourish at a significant CAGR of 13% during the forecast period. Increasing focus on health and wellness is anticipated to garner the growth of the global residential water treatment equipment market. Further, rising spending on research & development and development of advanced technologies is believed to impel the growth of the residential water treatment equipment market in the upcoming years. Apart from this, decreasing reliance and trust on municipal water supplies is likely to drive the adoption of residential water treatment equipment. Further, the global residential water treatment equipment market is expected to garner noteworthy revenue by the end of 2023.
Asia Pacific captured the largest percentage of market share in overall residential water treatment equipment market in 2016. Further, Asia Pacific is expected to continue its dominance over the forecast period. Increasing concern among the population about the quality of tap water is likely to drive the growth of the residential water treatment equipment market in the region. North America is expected to showcase a substantial growth over the forecast period i.e. 2017-2024. Further, presence of major manufacturers is anticipated to strengthen the growth of the residential water treatment equipment market in the region.
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Rising Concern about Quality of Water
Deteriorating quality of water and rising awareness about the quality of water is widening the demand for residential water treatment equipment. Further, increasing disposable income of the population is anticipated to boost the demand for residential water treatment equipment across the globe.
Developments in Residential Water Treatment Equipment
Advancement in technology and development of new treatment technologies and water treatment equipment are anticipated to facilitate the expansion of global residential water treatment equipment market during the forecast period. Moreover, rapid urbanization and increasing population in the world is anticipated to provide robust growth momentum to residential water treatment equipment market in the upcoming years.
However, high cost of advanced residential water treatment equipment system might dampen the growth of residential water treatment equipment market during the forecast period.
The report titled “Residential Water Treatment Equipment Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global residential water treatment equipment market in terms of market segmentation by product type, by equipment and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global residential water treatment equipment market which includes company profiling of The 3M Company, Culligan, Pentair Residential Filtration, LLC., Honeywell International Inc., BRITA GmbH, Whirlpool Corporation, BWT Best Water Technology, GE Appliances, a Haier company, Ecowater Systems LLC, Kinetico Incorporated, Amway (e-spring), Water-Right Inc., Canature Environmental Products Co., Ltd, Good Water Company, Envirogard Products Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global residential water treatment equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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