NEWARK, Del, Jan. 11, 2024 (GLOBE NEWSWIRE) -- The residential water treatment devices market is estimated to secure a valuation of US$ 14,220.6 million in 2023 and is predicted to reach US$ 23,721 million by 2033. The market is registering a CAGR of 5.2% during the forecast period.
The residential water treatment devices market has been experiencing notable growth globally. Increased awareness about water quality issues, concerns over contaminants in drinking water, and a growing emphasis on health and wellness have been driving the demand for residential water treatment solutions.
Consumers are increasingly seeking water treatment devices, such as water purifiers, filters, and softeners, to ensure the safety and cleanliness of their household water supply. This growth is also attributed to technological advancements in water treatment technologies, making these devices more efficient, user-friendly, and accessible.
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Additionally, regulatory initiatives promoting water safety and the desire for sustainable and eco-friendly solutions contribute to the expanding market. The residential water treatment devices sector is expected to continue its growth trajectory as more households prioritize access to clean and safe drinking water. For the latest and specific information, it's advisable to refer to more recent sources or market reports
Growing Internet of Things and Advanced Technologies Fuel the Market Growth
The growing innovation in the market has made using highly advanced devices easier. The growing technologies in residential water treatment devices include robotics, wireless connectivity, and automatic monitoring. These technologies are developing more smart and accurate devices that enhance work quality and fuel market growth.
The internet connectivity, Bluetooth sensor, and real-time monitoring alert consumers to detect issues and other related things. These water purification devices help to resolve water problems and reduce chlorine water, preventing health issues. The rising contaminated water supplies in colonies, apartments, and houses are increasing the adoption of residential water treatment devices.
The key companies are installing water purification treatment devices at home easily. These advanced technical devices remove contaminants and ultraviolet light and make water safe to consume. Due to the rising concern about water quality, adopting these devices is expanding the market. The government is also focused on providing safe, clean, and pure water by implementing various global regulations.
Key Takeaways:
- The residential water treatment devices market is securing a CAGR of 5.2% with a valuation of US$ 23,721.0 million by 2033.
- Historically, the market was valued at US$ 11,794.2 million in 2018.
- The United States is leading the global market by securing a maximum share of 18% during the forecast period.
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Key Player’s Strategies Bring Lucrative Opportunities in the Market
The key players play a vital role in the global market by adopting several marketing strategies to bring lucrative opportunities. These strategies in the residential water treatment devices market include:
- Innovation: Key players innovating their products a stay ahead of their competitors in the market. They focus on consumers’ needs and implement their product accordingly with a better version.
- Increased Investment: Key marketers invest a lot in research and development to develop advanced products with better technologies. These players are providing high-quality residential water treatment devices to attract consumers.
- Expand Reach: The key players are trying to reach their relevant audience to increase sales. They are increasing their brand awareness through social media, content strategies, and other online platforms.
- Focus on Cost Optimization: The key players are providing their consumers with better quality products at affordable prices. It can increase profitability with the rising demand for residential water treatment devices.
These are a few strategies helping to expand the market opportunities in the coming period.
Recent Developments in the Global Market are:
- In 2021, Pentair plc launched its Everpure H-300-NXT product for water purification. It helps to reduce harmful bacteria, including mercury and contaminated water.
- In 2021, Culligan International Company announced its new launch application to monitor harmful water through smartphones.
- In 2021, 3M announced its new product Aqua-Pure AP-DW80/90 to improve water quality for drinking and reduce contaminants, including cysts.
- In 2021, Honeywell International Inc launched a freeze Detector to identify leakages in the water purifying the system.
- In 2021, Whirlpool Corporation announced the newly launched EveryDrop for water purification.
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Scope of Report:
| Attribute | Details |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Germany |
| Key Segments Covered |
|
| Key Companies Profiled |
|
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Residential Water Treatment Devices Market by Category
By Product:
- Distillation Units
- Water Filters
Price Range:
- Economy
- Mid-Range
- Premium
Installation Type:
- Point of Use
- Point of Entry
Sales Channel:
- Hypermarkets/Supermarket
- Convenience Stores
- Specialty Stores
Region:
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East Africa
Authored by:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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