New York, USA, Aug. 29, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global RO water treatment system components market is anticipated to register a revenue of $13,687.3 million by 2026, growing at a healthy CAGR of 17.0% during the forecast period 2019-2026. The extensive report provides a concise outlook of the market scenario, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during and post-pandemic period. The report also offers detailed market figures, which makes it easier and more beneficial for new participants to understand the real-time scenario of the market.
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Factors Impacting the CAGR Figures Pre and Post the Covid-19 Pandemic
According to the report, the market is expected to grow at a CAGR of 17.0% during the forecast timeframe, while it was predicted to grow at a CAGR of 8.2% in the pre-pandemic scenario from 2019-2026. The most important growth driver of the RO water treatment system components market is expected to be the increasing focus of people all over the world to curb the spread of the virus, which has resulted in the growth of demand for RO systems. Additionally, RO water treatment systems are designed in order to treat wastewater generated from, both, residential and non-residential sources which is predicted to boost the RO water treatment system components market further.
Factors Impacting the Market Size Pre and Post the Covid-19 Pandemic
According to the report, the real-time market size has significantly increased compared to the pre-pandemic projections. The real-time market size reached a revenue of $6,299 million in 2020, while its estimations were $4,941.1 million in the pre-pandemic scenario. The World Health Organization (WHO), as part of its guidelines, asked people to keep the water supplies clean and safe in order to contain the transmission of the virus, as the SARS-CoV-2 virus can easily spread through sewage and untreated water. These guidelines have led to an increase in the demand for RO systems in order to purify and treat the water supplies, which is enabling the RO water treatment system components market to grow by 2026. Moreover, many governmental and non-governmental bodies like NGOs are spreading awareness regarding the importance of RO systems in order to get access to safe drinking water. This is further helping the market to grow. However, the complex structure and operational procedures associated with RO systems may create hindrances in the full-fledged growth of the RO water treatment system components market.
Post Pandemic Insight
Increasing adoption of RO water treatment systems across the globe, especially in residential areas is expected to boost the market in the forecast period. Additionally, continuous improvements in the RO membrane technologies and implementation of nanotechnology in RO membrane systems is predicted to propel the RO water treatment system components market growth during the forecast timeframe.
Prominent RO water treatment system components market Players
Some prominent RO water treatment system components market include
- MICRODYN-NADIR
- Hydranautics - A Nitto Group Company
- Koch Membrane Systems, Inc.
- LG Chem.
- Membranium
- TOYOBO CO., LTD
- TORAY INDUSTRIES, INC.
- AXEON
- Dow
- LANXESS
- Uniqflux Membranes LLP, and many more.
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in April 2021, Komline-Sanderson, a wastewater management equipment manufacturer, announced the acquisition of Harn R/O Systems, Inc., one of the oldest, privately owned membrane treatment industry. With this acquisition, Komline-Sanderson will be able to offer RO systems based on technologies and methodologies such as reverse osmosis, nanofiltration, etc.
The report also sums up many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
More about RO water treatment system components market:
- Why RO Water Treatment System Components is the Best Way to Purify Water During the COVID-19 Pandemic?
- Growing Scarcity Of Water Will Accelerate The Growth Of The Global RO Water Treatment System Components Market During COVID-19 Pandemic
