Published on : Dec 08, 2016
ALBANY, NY, Dec 08, 2016: The report analyzes the global residential water treatment equipment market’s current and past state and estimates the future of the industry. The report aims to aid businesses and investors in making effective business strategies by understanding the market conditions for the residential water treatment equipment industry. Thus, market players, both established and new can make informed decisions regarding their business expansion or investments. In addition to this, the report discusses key factors driving and restraining the market. Global trends in the residential water treatment equipment market are highlighted and the future scope of the market is discussed.
According to the report, the global residential water treatment equipment market is expected to expand at a 10% CAGR from 2016 to 2020 owing to rapid industrialization across the globe, leading to a contamination of water sources. The growing need to save water by recycling is another key driver, boosting the global market. This is because, industrialization has led to the depletion of water sources in many parts of the world, making it essential to conserve water. With the help of water treatment equipment, wastewater can treated and reused for several other purposes and also prevent the depletion of groundwater.
The growing awareness regarding the health issues associated with drinking unsafe water is leading to a high demand for residential water treatment equipment. Stringent government regulations across the world with regards to residential water supply are also helping the residential water treatment equipment market to grow. Various regulatory bodies such as the EPA, EU, and WHO have set standards for contaminants in point-of-use (POU) water and these standards are expected to increase in the coming years, furthering the demand for residential water treatment equipment. However, the biggest challenge faced by the industry is the availability and preference for bottled water.
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On the basis of application, the global residential water treatment equipment market is segmented into ion exchange, disinfection, and filtration. Of these, it is expected that the ion exchange segment will expand at a robust CAGR of 10% between 2016 and 2020 owing to their effectiveness in eliminating contaminants including heavy metals and organic matter. In addition to this, ion exchange is also suitable to remove radionuclides and thus, their demand will remain high through 2020. By geography, it is expected that the Americas segment will lead in the residential water treatment equipment market, accounting for 43% of the market by 2020. The growth of the market in North America is likely due to incidences of drought and water shortages in Arizona, Texas, and California.
Some of the key players operating in the global residential water treatment equipment market, which have been profiled in the report are 3M, Watts Water Technologies, Culligan International Company, GE Appliances, and Ecowater Systems.
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