Portland, OR, Nov. 03, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global home water filtration unit market garnered $3.7 billion in 2021, and is estimated to generate $5.8 billion by 2031, manifesting a CAGR of 4.9% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $3.7 billion |
| Market Size in 2031 | $5.8 billion |
| CAGR | 4.9% |
| No. of Pages in Report | 218 |
| Segments covered | Product type, sales channel, and region. |
| Drivers | An increase in concerns toward health and well-being among the global population |
| Surge in consumer awareness regarding water safety and quality as a result of the global spread of waterborne diseases | |
| Opportunities | Developing nations like India and China in the Asia Pacific region as well as underdeveloped regions of Africa are making significant investments in water purification infrastructure due to a lack of drinking water |
| Restraints | Rise in popularity of alternative technologies |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global home water filtration unit market, owing to implementation of global lockdown which resulted to prevent the manufacture of home water filtration units.
- Due to a decline in product demand and problems with component supply, manufacturing companies faced several challenges.
- Additionally, numerous nations had to deal with lockdowns restrictions when businesses were not allowed to operate, which negatively impacted the market for home water filtration units and decreased the production of water filters.
- However, the home water filtration unit market has already recovered and the demand for home water filtration unit is likely to increase in the post-pandemic.
The research provides detailed segmentation of the global home water filtration unit market based on product type, sales channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on product type, the ultraviolet purification systems segment accounted for the highest share in 2021, contributing to nearly one-thirds of the global home water filtration unit market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the sediment filters segment is expected to manifest the highest CAGR of 6.2% from 2022 to 2031.
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Based on sales channel, the direct sales segment accounted for the highest share in 2021, holding nearly three-fourths of the global home water filtration unit market, and is expected to continue its leadership status during the forecast period. However, the indirect sales segment is estimated to grow at the highest CAGR of 5.3% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global home water filtration unit market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 6.6% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of the global home water filtration unit market analyzed in the research include SUEZ Water Technologies & Solutions, Tata Chemicals Limited, Amway Corporation, A. O. Smith Corporation, Eureka Forbes Limited, Halo Source Inc., KENT RO Systems Ltd., LG Electronics, Panasonic Corporation, Brita GmbH.
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The report provides a detailed analysis of these key players of the global home water filtration unit market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
