Pune, India, July 21, 2023 (GLOBE NEWSWIRE) -- The global point-of-use water treatment systems market size was USD 19.58 billion in 2021 and is projected to grow from USD 20.94 billion in 2022 to USD 36.54 billion by 2029 at a CAGR of 8.3% during the 2022-2029 period. Fortune Business Insights™ publishes this information in a report titled, "Point of Use Water Treatment Systems Market, 2022-2029". As per the report, the market is expected to grow during the projected period due to increasing awareness regarding water-borne diseases.
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List of Key Players Profiled in the Point of Use Water Treatment Systems Market Report:
- A.O. Smith Corporation (U.S.)
- Brita LP (U.S.)
- Pentair PLC (U.S.)
- Culligan International Company (U.S.)
- Unilever PLC (U.K.)
- Panasonic Corporation (Japan)
- LG Electronics (South Korea)
- Helen of Troy Limited (U.S.)
- Best Water Technology Group (Austria)
- Kent RO Systems Ltd. (India)
- Coway Co. Ltd. (South Korea)
- Katadyn Group (Switzerland)
- Eureka Forbes Ltd. (India)
- Global Water Solutions Ltd. (U.S.)
- General Ecology Inc. (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 8.3 % |
| 2029 Value Projection | USD 36.54 Billion |
| Market Size in 2022 | USD 20.94 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 185 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Point-of-Use Water Treatment Systems Market Growth Drivers | 0.5 mm to Lead as it Provides Optimum Performance |
| Increasing Demand from Various End-use Industries to Propel the Product Demand |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/point-of-use-water-treatment-systems-market-102814
Segments:
Countertop Filters to Lead Market Due to High Demand
By product type, the market is divided into under-the-counter filters, countertop filters, pitcher filters, faucet-mounted filters, and others. Countertop filters are expected to lead the global market due to their increasing plumbing sector demand.
RO Filter Segment to Dominate Market Due to its Excellent Features
Based on category, the market is classified into RO filters, UV filters, gravity filters, and others. RO filters segment is anticipated to dominate the market due to its excellent features and feasibility.
Residential Segment to Be the Fastest-Growing Application
On the basis of application, the market is bifurcated into residential and light commercial. The residential segment holds the highest market share due to the increasing adoption of these point-of-use water treatment systems in residential projects.
Geographically, the market share is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The research report covers insightful data regarding recent developments and trends in the industry. Drivers and restraints affecting the market growth during the forecast are highlighted further in this report. Also, the impact of the COVID-19 pandemic on market expansion is mentioned along with recent business development strategies adopted by the leading players. A list of key market players is given with regional insights on segmented market areas.
Drivers & Restraints:
Rising Adoption of Smart Water Treatment Systems to Augment Growth
The market is expected to grow significantly during the forecast period due to increasing awareness regarding water-borne diseases. The rising demand for smart water treatment systems is anticipated to drive the market in the coming years. Also, various environmental campaigns conducted by governments and social workers are projected to bolster the global point-of-use water treatment systems market growth.
However, filters' high production and maintenance costs may hamper the market growth during the projected period.
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Regional Insights:
Asia Pacific Holds Highest Market Share Due to Rapid Urbanization
Asia Pacific dominates the global point-of-use water treatment systems market share due to rapid urbanization and growth opportunities in the region. The regional market stood at USD 7.71 billion in 2021.
Europe is the second-largest contributor to the global market. The regional market growth is attributed to the increasing adoption of water treatment systems in the household sector. Furthermore, the rising adoption of recent technologies is expected to fuel regional market growth.
Competitive Landscape:
New Product Launch Allows Companies to Enhance their Product Portfolio
The leading market players focus on forming strategic alliances and partnerships with supporting organizations. Also, the companies adopt recent technologies to introduce new product ranges and enhance their product portfolio.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends in Global Market
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Key developments: Acquisition, Collaboration, Strategic Partnership, and Joint Venture
- Qualitative Insights - COVID-19 Impact on the Market
- Supply Chain Challenges
- Steps taken by Companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
TOC Continued...!
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Key Industry Development:
- December 2021: Culligan and Waterlogic Group Holdings joined hands to develop sustainable water purification, treatment, and filtration services. With this collaboration, both companies combined their expertise to expand into new markets, including the U.S., and strengthen their existing distribution networks.
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