Increasing environmental pollution worldwide coupled with the growing occurrence of water-borne diseases and other risks is expected to fuel the growth of market
Global Residential Water Treatment Equipment Market, By Product Type (POU and POE), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The process of water treatment can be defined as the industrial procedure of treating and filtering water to make it suitable for drinking, industrial applications, and medicinal use. This process involves the elimination of contaminants via biological, chemical, and physical treatments to make it fit for end-use.
The water treatment market is expected to have significant growth during the forecast years, accounting for the increasing environmental pollution worldwide coupled with the growing occurrence of water-borne diseases and other risks. The World Health Organization's report on drinking water revealed that nearly two billion people across the world are using water from a contaminated source with feces. In addition, the study also estimated a count of 485,000 diarrhoeal deaths each year due to consuming contaminated water. This further elevates the growth of the water treatment equipment market globally.
Other factors such as the rising need for additional treatment of recycled water, increasing concerns over health risks, adverse environmental impact, and the occurrence of several diseases are also responsible for elevating the industrial growth in the next 5 years.
However, the need for high capital investment for the installation of equipment and operation is likely to hamper the market growth in the near future. Furthermore, the factors such as the growing awareness about the quality of drinking water, detrimental effects of hard water, increasing industrial pollution, and the threat of depletion of groundwater are expected to create profitable business growth opportunities, expanding the overall residential water treatment equipment market size.
Based on product type, the point-of-use (POU) segment is expected to have the majority of market shares as compared to POE. POU water treatment systems are majorly employed for treating the water and making it fit for domestic use such as drinking and cooking. Additionally, this type of equipment is compact and consists of sink, countertop, and faucet mount systems. as per their size, they are ideal for installing in the bathroom or kitchen sink. thus, the above-mentioned factor is responsible for promoting the POU segmental growth during the forecast years.
Region-wise, Asia Pacific is accounted to have significant growth in the next decade, owing to the growing awareness about water pollution and tap water quality especially in countries like India and China. Besides, the increasing demand and installation of residential water treatment equipment such as RO and UV filters are likely to boost the sale in the Asia Pacific region.
MMC Study identifies some of the key participating players in the residential water treatment equipment market globally are 3M, EcoWater Systems, General Electric, Mitsubishi Rayon, Pentair, Affordable Water Treatment, Bergerson-Caswell, Eureka Forbes, Kent RO Systems, Koninklijke Philips, KITZ MICRO FILTER, Kurita Water Industries, Norlen's Water Treatment, Ozone Pure Water, Panasonic, Pargreen Process Technologies, Pure Water Technology, and Safe Water Technologies.
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