New York, United States, Oct. 09, 2023 (GLOBE NEWSWIRE) -- A smart water softener is a new technique for water treatment that softens and converts hard water to soft water. Hard water contains abundant minerals such as calcium, magnesium, and other dissolved metals. “North America will most likely grow at a CAGR of 14.81% and command the market with the largest share,” states Research Manager at Straits Research P. Ltd.
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Key Drivers
Organizations like the World Health Organization promote water cleanliness and educate consumers to contribute to the market's growth for smart water softeners. At least 2 billion individuals worldwide drink water contaminated with feces. Consequently, the global shortage of soft water has contributed to the expansion of intelligent water softener products.
Due to the convenience of purchasing, the continuity of service, and the vast selection of products they provide to international customers, online stores are gaining popularity among consumers. It has also become a macro trend in regions where internet penetration is high, such as North America and Europe. In addition, millennials frequently use e-commerce for online shopping due to the availability of deep discounts and home delivery, making the expansion of the smart water softeners market.
Growth Opportunities
Emerging economies represent an untapped market for intelligent water softeners. More than 80% of the world's population resides in countries not members of the Organization for Economic Co-operation and Development. Yet, they consume less than the rest of the world. In recent years, Asia-Pacific and LAMEA economies have experienced robust economic growth, increasing employment. Customers' increased purchasing power has led to an increase in smart water softener sales. Smart water softeners also employ water-saving technologies to reduce water and salt consumption, thereby enhancing regeneration cycles. This increases product efficacy and demonstrates a higher growth rate, especially in Asia-Pacific and LAMEA's expanding economies.
Regional Insights
North America will most likely grow at a CAGR of 14.81% and command the market with the largest share. Due to the high demand from residential apartments, food & beverage companies, universities, offices, pharmaceutical firms, and water treatment facilities, the United States has become the most significant contributor to the North American smart water softener market. During the anticipated timeframe, the number of service apartments is expected to increase at a comparable rate. Consumer awareness of this technology's health, cleaning, and household use boost water softener sales in North America.
Growing environmental concerns are prompting consumers, producers, and governments to seek eco-friendly and sustainable products, which is expected to increase the market for these items. This will be anticipated to impact the smart water softener market share positively.
The Asia Pacific will grow at a CAGR of 19.50% during the forecast period. Rapid urban development has increased the need for municipal water treatment to meet the growing demand for potable water and sanitation facilities. Increasing water consumption is the primary factor driving the Asia-Pacific smart water softener market. Market participants in economies like India and Japan will have more opportunities to create water softener businesses for lucrative growth prospects in the industry.
Given the increasing environmental concerns regarding filtered water, India's water purification manufacturers have produced a substantial quantity of water softeners, positively affecting the Asia Pacific water softener market share. The expansion of the smart water softeners industry has been influenced by the rise in disposable income and consumer health consciousness in the Asia-Pacific region.
Key Highlights
- The global smart water softeners market size is envisioned to reach USD 1,521 million growing at a CAGR of 16.31% during the forecast period.
- Based on the product type, the wall-mounted type segment is anticipated to grow at a CAGR of 16.82% and will hold the largest market share.
- Based on grain capacity, the segment of up to 60,000 is anticipated to advance at a CAGR of 17.4% and will hold the largest share.
- Based on end-user, the residential user segment is expected to grow at a CAGR of 17% and will hold the largest share.
- Based on distribution channels, the supermarkets & hypermarkets channel is expected to grow at a CAGR of 18.10% and hold the largest market share.
Competitive Players in the Market
- A.O Smith
- 3M
- Culligan
- EcoWater System
- Pentair
- Panasonic Corporation
- Whirlpool Corporation
- Coway
- Kenmore
- GE Electric.
Market News
- In 2022, 3M and Innovative Automation Inc. will collaborate to develop a robotic tape system providing industrial users with an automated tape application solution.
- In 2022, 3M announced the acquisition of LeanTec technology.
Global Smart Water Softeners Market: Segmentation
By Product Type
- Wall Mounted
- Floor
By Grain Capacity
- Up to 40,000
- Up to 60,000
- Up to 80,000
By End-User
- Residential
- Institute
By Distribution Channel
- Supermarket & Hypermarket
- Specialty Store
- Convenience Store
- Online Sales Channel
By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
About Straits Research Pvt Ltd.
Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt Ltd. provides actionable market research data, specially designed and presented for decision making and ROI.
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