New York, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Kenneth Research has published a detailed market report on ‘Global Point-of-Use (POU) Water Treatment Systems Market’ for the forecast period, i.e. 2022 – 2031, which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Profiling of key market players
Global Point-of-Use (POU) Water Treatment Systems Market Size:
The global point-of-use (POU) water treatment systems market, also commonly termed as water treatment systems point-of-use (POU), garnered a revenue of USD 20.2 billion revenue in the year 2021 and is expected to grow at ~10% CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the need for clean water around the world and the increasing adoption of POU systems among end users. Additionally, the rising level of water pollution as a result of rapid urbanization is anticipated to be a major factor driving the growth the market. In addition, the advancing technology of purification such as copper filtration, along with growing disposable income of consumers is most likely to boost the growth of the market in upcoming years. Growing consumer investment towards clean and safe drinking water to combat water-borne diseases is also helping in market expansion. According to the World Health Organization (WHO), diarrhoeal disease is the second leading cause of death in children under five years old, and was responsible for the deaths of 370,000 children in 2019.
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Prevalence of Diarrhoeal Diseases across the World to Boost Market Growth
A point-of-use water treatment system is installed in a single source line in all the building's taps, faucets, or other designated outlets for drinking, cooking, or bathing. These systems purify drinking water effectively and demand for clean water is growing all over the world, coupling with the increasing prevalence of diseases related to water pollution. According to the data by the World Health Organization (WHO), each year diarrhoea kills around 525 000 children under five. Globally, there are nearly 1.7 billion cases of childhood diarrhoeal disease every year. Hence, this is expected to significantly drive the growth of the global point-of-use (POU) water treatment systems market.
In addition to this, continuous technological advancements to make point-of-use (POU) water treatment systems more useful and effective is adding to the market growth. Additionally, the rising investments in the R&D activities to continuously bring up more feasible solutions for purifying water are predicted to propel the market during the forecast period. As per the research reports, global research and development spending has more than tripled in real terms since 2000, rising from approximately USD 680 billion to nearly over USD 2.5 trillion in 2019.
Global Point-of-Use (POU) Water Treatment Systems Market: Regional Overview
The global point-of-use (POU) water treatment systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
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Growing Healthcare Advancements throughout the Region Propelled Market Growth in the North America Region
Point-of-use (POU) water treatment systems market in the North America region showed a significant growth in the year 2021 owing to high demand for water treatment system among people and presence of large-scale commercial manufacturers of the systems. It is further estimated to elevate substantially over the forecast period on the back of a developed healthcare industry, growing demand for clean water in the region. As POU water treatment systems play a great role to lessen the diarrhoeal diseases, the growth of healthcare sector is highly anticipated to positively influence the market growth. In addition to this, growing healthcare expenditure in overall GDP over the region is also expected to boost the market growth. As per the data by the World Bank, as of 2019, the current health spending accounted for 16.32% of GDP in North America.
Rapid Urbanization to Boost Market Growth in the Asia Pacific Region
On the other hand, the point-of-use (POU) water treatment systems market in Asia Pacific region is estimated to witness modest growth by growing at a higher CAGR over the forecast period. The growth of market can be attributed to budding opportunities in the field of POU water treatment systems along with the adoption of highly advanced technologies for water filtration among consumers. Moreover, the government’s initiative for promoting the use of water treatment system in order to fight against water borne diseases is another major factor expected to add in the growth of the market. Additionally, the rapid urbanization in the Asia Pacific region is a considered to be a major growth driver. As per the data by the World Bank, as of the year 2021, 61% of the total population in East Asia and Pacific accounted to urban population.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Point-of-Use (POU) Water Treatment Systems Market, Segmentation by Product Type
- Countertop Filters
- Pitcher Filters
- Under the Counter Filters
- Faucet Mounted Filters
- Others
The countertop filters segment is anticipated to hold the largest market size in the year 2021 and is anticipated to grow at a notable CAGR during the forecast period. The growth of this segment can be associated with the easy plumbing connections and installation, as well as minimum space requirement by the systems. Moreover, advanced technology used in the systems, and growing demand of consumers for advanced water purification methods along with their increasing disposable income are projected to influence the segmental growth. It was noted that, as of 2020, the global disposable income per capita was USD 8784.
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Global Point-of-Use (POU) Water Treatment Systems Market, Segmentation by End Users
- Hotel
- Household
- Hospitals
- Educational Institutions
- Others
The hospitals segment is anticipated to show substantial growth over the projection period. The growth of the segment can be attributed to the existence of a huge patient pool in hospital facility that requires treatment. Moreover, rising healthcare expenditure per capita on healthcare is also estimated to propel the growth of this segment. According to the data by the World Bank, as of 2019, current health expenditure per capita among the global population was USD 1,121.97.
Global Point-of-Use (POU) Water Treatment Systems Market, Segmentation by Category
- RO Filter
- UV Filter
- Gravity Filter
- Others
Global Point-of-Use (POU) Water Treatment Systems Market, Segmentation by Application
- Residential
- Commercial
- Industrial
Few of the well-known market leaders in the global point-of-use (POU) water treatment market that are profiled by Kenneth Research are Honeywell International Inc., Calgon Carbon Corporation, Unilever PLC, BWT Holding GmbH, Panasonic Corporation, Katadyn Products Inc., KENT RO SYSTEMS LTD., General Ecology, Inc., COWAY CO. LTD., and Watts Water Technologies, Inc., and others.
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Recent Developments in the Global Point-of-Use (POU) Water Treatment Systems Market
- In July 2021, it was announced that goal of BWT's relationship with Formula 1 over the coming years is to eliminate single-use plastic bottles by setting up water stations everywhere across the paddock.
- In April 2020, The United States Coast Guard (USCG) granted the Type Approval for the Hyde GUARDIAN-US ballast water treatment system manufactured by Calgon Carbon Corporation's Hyde Marine ballast water treatment division (Universal Service).
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