Chicago, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The global Point-of-Use Water Treatment Systems Market to grow from USD 16.2 billion in 2021 to USD 25.3 billion by 2026, at a CAGR of 9.3%, as per the recent study by MarketsandMarkets™. Point-of-use water treatment systems are defined as devices that are installed on either single tap or multiple taps to provide high-quality water that is free from contamination including chlorine, iron, sulfur, and dissolved solids. These systems are majorly used in residential and non-residential applications.
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Browse In-Depth TOC On "Point-of-Use Water Treatment Systems Market”
216 - Market Data Tables
47 - Figures
214 - Pages
List of Key Players in Point-of-Use Water Treatment Systems Market:
- Pentair PLC (UK)
- Honeywell International (US)
- Panasonic Corporation (Japan)
- Unilever PLC (UK)
- LG Electronics (South Korea)
- Coway Co. Ltd. (South Korea)
- Best Water Technology AG (Austria)
- Toray Industries (Japan)
Drivers, Restraints, Opportunities and Challenges in Point-of-Use Water Treatment Systems Market:
- Driver: Increasing water contamination
- Restraint: High installation, equipment, and operational cost
- Opportunity: Scarcity of clean water in developing and underdeveloped countries
- Challenge: Aging infrastructure
Key Findings of the Study:
- In terms of value & volume, countertop is estimated to lead the point-of-use water treatment systems market in 2020
- Residential is estimated to be the largest segment in the point-of-use water treatment systems market in 2020.
- Reverse Osmosis is estimated to be the largest segment in the point-of-use water treatment systems market in 2020.
- The APAC region is projected to account for the largest share in the point-of-use water treatment systems market during the forecast period.
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The counter-top units segment is projected to grow at the highest CAGR during the forecast period. The dominance of these water treatment systems is attributed to numerous advantages, such as convenience to use, easy installation, and easy maintenance. Moreover, these devices also help in the reduction of contaminants, such as bacteria, dirt, chlorine, particulates, rust, lead, mercury, sediment, copper, benzene, cadmium, and cysts.
The reverse osmosis segment accounted for the largest share in the point-of-use water treatment systems market, in terms of value. This is attributed to various benefits offered by reverse osmosis systems including, improvement in the taste, odor, and color of water, simple maintenance, and removal of contamination (such as lead, chlorine &chloramine, nitrates, pesticides, sulfates, fluoride, bacteria, pharmaceuticals, and arsenic). Moreover, these systems are expensive as compared to other technologies. Hence the revenue generated by these systems is higher as compared to other technologies.
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In terms of geographic coverage, the point-of-use water treatment systems market has been segmented into five regions, namely, North America, the Asia Pacific, Europe, the Middle East, and Africa, and South America. The Asia Pacific accounted for the largest share in 2019 and is also projected to record the highest growth rate during the forecast period. Rapid urbanization, growing population, scarcity of clean water, and increasing disposable incomes in the emerging economies such as China and India are projected to drive the growth of the point-of-use water treatment systems market in this region. India is projected to register the highest growth due to the contamination of groundwater tables & surface water bodies and rising health consciousness among consumers in India.
The scarcity of clean water in the developing and under-developed countries are creating opportunities for the installation of various types of point-of-use water treatment systems for residential and non-residential applications. The rise in demand for residential point-of-use water treatment systems in developing regions is driven by the rising awareness about the diseases from contaminated water and awareness about various water treatment technologies. Moreover, there are few replacement choices for the point-of-use water treatment systems in rural parts of the developing and underdeveloped countries. This acts as an opportunity for the point-of-use water treatment systems manufacturers and suppliers.
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