New York, Aug. 22, 2019 (GLOBE NEWSWIRE) -- Increasing demand for water filters in storage based sub-segments coupled with high investment in R&D of water filters is fueling the market growth.

The global water filters market is forecast to reach USD 18.50 Billion by 2026, according to a new report by Reports and Data. The market is rising rapidly in the global market due to the high demand for water filters owing to the extreme increase of waste disposal into rivers and regulations with safe drinking water by different regulatory bodies globally. Many households have started adopting the technology in developed and developing countries because of its affordable pricing.

The Municipal segment had the highest market share of 22.5% in the year 2018 as municipal corporations mostly conduct great safeguarding for their water supplies to ensure the safe drinking and other safe usage of water for the habitants of major cities and urban outskirts. They incorporate a different type of filtration and follow the highest level of safety treatments for their supplied water.

Asia Pacific region is forecasted to generate the highest revenue of USD 7.36 Billion in the year 2026, owing to its extensive market penetration coupled with the rising population mostly in China, India, and Philippines.     

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Further key findings from the report suggest

  • Industries such as bottled drinking water, drinks, foods, and beverages have to manufacture the products following the highest level of quality standards in order to ensure safety for their consumers and achieve higher brand trust also. Industry segment is rising with a CAGR of 7.1% during the forecast period and will deliver a revenue of USD 3.68 Billion.
  • Household usage has been proliferated significant times in recent years due to the rise in the awareness for safe drinking water coupled with a reduction in overall pricing of the water filters. The segment is calculated to grow with a CAGR of 7.6% throughout the forecast period.
  • Ultra Filtration (UF) is the type of membrane-based filtration in which hydrostatic pressure forces is embodied to a liquid against a semipermeable membrane. The semipermeable thin layered membrane then separates the impurities when a driving force is applied across the membrane. This sub-segment is forecasted to gain a market share of 9.0% by 2026 by the type of filters segment.
  • By the application type, the market has two sub-segments. One of them is storage based water filters. Storage based designs are mostly used in household purposes as it comes with a built-in storage tank which contains the filtered water for convenient instant usage. This segment is growing with a CAGR of 7.7% in the forecast period.
  • APAC owing to its massive population and record water-based diseases because of extreme waste disposal in rivers mostly in India, Bangladesh and Afghanistan is expected to grow with the highest CAGR of 8.2% throughout the forecast.
  • North America is accounted to gain 29.1% of market possession by 2026 with a CAGR of 7.4% in the forecast period.
  • Europe is forecasted to witness significant growth in the overall market, with 14.2% of market possession by 2026 and CAGR of 3.8% during the forecast period.
  • Key participants include Mann-Hummel, Veolia, Suez Water Technologies & Solutions, Kent RO Systems Ltd., Pentair Plc, Mitsubishi Rayon Cleansui Co., EcoWater Systems LLC., Ion Exchange, EvoQua Water Technologies, Eaton Corporation.

To identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/global-water-filters-market-by-manufacturers-countries-type-and-application-forecast-to-2022

Segments covered in the report:

For the purpose of this report, Reports and Data have segmented the global water filters market on the basis of the type of filters, Application, end-use verticals, and region:                     

Type of Filters Outlook (Revenue, USD Billion; 2016-2026)

  • Single & Dual Media Filter
  • Multi-Media Filtration
  • Activated Carbon Filtration
  • Ultra Filtration
  • Strainer Cartridge
  • Others

Type of Plastic Outlook (Revenue, USD Billion; 2016-2026)

  • Storage Based
  • Non-storage Based

End-Use Verticals Outlook (Revenue, USD Billion; 2016-2026)

  • Municipal
  • Household
  • Commercial
  • Industrial
  • Chemicals & Pharmaceuticals
  • Hospitals & Clinics
  • Sewage Recycle
  • Others

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Regional Outlook (Revenue, USD Billion; 2016-2026)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of the Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Middle East & Africa
    • Latin America
  • Brazil

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