Dublin, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The "Point of Use Water Treatment Systems Market Size, Share, Trends, By Device, By Technology, By Application, and By Region Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The point of use water treatment systems market size is expected to reach USD 29.63 Billion in 2028 and register a revenue CAGR of 8.9% over the forecast period, according to latest report. Rapid market revenue growth can be attributed to the due to favorable government initiatives regarding point of use water treatment systems and stringent regulations on water quality by environmental agencies. In addition, rising incidences of water-borne diseases are projected to supplement market demand over the forecast period.
Smart water purification systems have emerged as a new category in the water treatment industry. These systems are designed to address point-of-use drinking water applications and can be used in residential, commercial, and industrial settings. The smart water purification system market is expected to grow significantly over the next decade due to the increasing demand for clean and safe drinking water.
Some Key Highlights from the Report
- The global smart water purification system market is segmented by application, end-use, and geography. The residential applications segment is expected to grow at the highest CAGR during the forecast period due to the increasing awareness about the importance of clean and safe drinking water.
- The commercial applications segment is expected to grow at a significant CAGR during the forecast period due to the increasing demand for clean and safe drinking water in office buildings, hotels, and restaurants.
- The North American smart water purification system market is expected to grow at the highest CAGR during the forecast period due to the presence of major manufacturers in the region and the increasing awareness about the benefits of clean and safe drinking water. The Asia-Pacific smart water purification system market is expected to grow at a significant CAGR during the forecast period due to the increasing demand for clean and safe drinking water in the region.
- The point of use water treatment systems market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The major factors driving the growth of this market include the increasing demand for safe and clean drinking water, rapid industrialization and urbanization, and stringent government regulations regarding water quality. In Asia-Pacific, China is the largest market for point of use water treatment systems owing to the rapid industrialization and urbanization in the country. The Chinese government is also investing heavily in the improvement of water infrastructure, which is expected to drive the growth of the point of use water treatment systems market in China.
- By device, the countertop unit segment accounted for largest market revenue share in 2020. This growth is attributed to the rising concerns regarding water quality & safety and growing awareness regarding health benefits associated with point of use water treatment systems such as removal of contaminants, bacteria, viruses, and other microorganisms.
- The under-sink unit segment is anticipated to grow at highest CAGR during the forecast period. This growth can be attributed to the rising concerns regarding water quality & safety and growing awareness regarding health benefits associated with point of use water treatment systems such as removal of contaminants, bacteria, viruses, and other microorganisms
Market Dynamics
Market drivers
- Increasing cases of water-borne diseases.
- Growing awareness about the benefits of water treatment.
- Technological Innovations
- Growing population and urbanization
- Extensive operation and high equipment costs.
- Varying quality of water available in different regions
Device Outlook (Revenue, USD Billion; 2018-2028)
- Faucet-Mounted Filters
- Tabletop pitchers
- Countertop Units
- Under-the-sink Filters
- Others
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Reverse Osmosis Systems
- Distillation Systems
- Ultrafiltration Systems
- Disinfection Methods
- Filtration Methods
- Ion Exchange
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Residential
- Non-residential
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Point of Use Water Treatment Systems Market Segmentation & Impact Analysis
Chapter 5. Point of Use Water Treatment Systems Market By Technology Insights & Trends
Chapter 6. Point of Use Water Treatment Systems Market By Device Insights & Trends
Chapter 7. Point of Use Water Treatment Systems Market By Application Insights & Trends
Chapter 8. Point of Use Water Treatment Systems Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- Culligan International Company
- Honeywell International
- Pentair
- Panasonic Corporation
- LG Electronics
- Koninklijke Philips N.V.
- EcoWater Systems
- A.O.Smith
- Unilever
- Amway Inc.
- Eureka Forbes
- Tata Chemicals
For more information about this report visit https://www.researchandmarkets.com/r/v1n5c8
