The increasing levels of water pollution, rise in prevalence of water-borne diseases such as typhoid, cholera, malaria, anemia, dengue, and others, and the rising importance of clean drinking water are the major point-of-use water treatment systems Industry growth drivers. In addition to this, the implementation of advanced technology in terms of water purification systems primarily focuses on removing harmful contaminants, and complete water purification for home and light commercial buildings, thereby adding impetus to the market.
The advent of Smart Water Treatment Systems will Add Impetus to Market
According to Fortune Business Insights™, the global point-of-use water treatment systems market size is anticipated to witness significant growth on account of the increasing levels of water pollution, attributed to the rise in urbanization and industrialization, coupled with the increasing importance of clean water. As per a recent report by Fortune Business Insights titled the market value stood at USD 17.30 Billion in 2019 and is anticipated to rise at a CAGR of 8.1% to reach USD 32.20 Billion by 2027. The outbreak of covid-19 is expected to have a significant impact on the growth of the market. The year-on-year growth rate is estimated to decline for the next two years as compared to the earlier. Therefore, the market is expected to grow at a lower CAGR during the forecast period.
On the negative side, water purification systems such as ultra-violet filters and reverse osmosis filters are expensive and the maintenance costs of such systems are also high. This poses a major challenge to the market. Nevertheless, the introduction of the Internet of Things and the advent of smart point-of-use water treatment systems may create lucrative growth opportunities for the market in the coming years.
Key Considerations for Market Forecast:
- Impact of Pandemic, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
Asia Pacific to Register Fastest Growth Rate Owing to Increasing Adoption of Water Treatment Systems
Asia Pacific earned the largest point-of-use water treatment systems Industryshare and is expected to rise at a CAGR of 9.7% in the forecast period. Factors attributed to the growth of this region are rising awareness about the advantages of water treatment systems. In addition to this, China is one of the major consumers of water treatment systems. This is followed by Japan, Australia, and South Korea. Other regions such as North America and Europe are anticipated to register considerable growth in the foreseeable future. In 2019, the market in North America earned USD 4.29 billion on account of the presence of large commercial manufacturers and the well-established distribution network in the region.
Key Players Invest in R&D of Better Water Treatment Systems for Better Revenue Generation
Currently, the market is fragmented on account of the presence of many players. A majority of players are engaging and investing massively in the research and development of several point-of-use water treatment system products with higher efficiency and at reasonable operational costs. Such initiatives taken by companies will help them gain a competitive edge in the market.
The study point-of-use water treatment systems Industry offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends point-of-use water treatment systems Industry that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micro Market initiatives of leading players will bring in investments in point-of-use water treatment systems Market?
- What can be the best point-of-use water treatment systems Industry framework and tools for PESTLE analysis?
- Which regions will witness a rise in point-of-use water treatment systems Market’s new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future point-of-use water treatment systems Market?
- Which operational and tactical frameworks are being adopted by various players in point-of-use water treatment systems Industry gaining customer loyalty?
- What is the point-of-use water treatment systems Industry current and expected intensity of competition in the Market in the near future?