The residential water treatment devices market is expected to reach US$23 billion and CAGR of around 5.0% through 2022-2031
The Global residential water treatment devices market is expected to register a robust CAGR of 9% from 2017 to 2027 and cross a value of US$56 billion by then. Water is essential for the survival of all living organisms and it is at the same time one of the rarest resources. Large-scale urbanization, rampant use of pesticides, and natural pollutants found in some water bodies have contaminated these living sources, rendering them unfit for human consumption. Future Market Insights in its report titled ‘Residential Water Treatment Devices Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)’ has comprehensively analyzed the global market residential water treatment devices which is expected to register a robust CAGR of 9% from 2017 to 2027 and cross a valuation of US$56 billion at that time.
|Residential Water Treatment Devices Estimated Market Size 2021||$23 billion|
|CAGR Value (2021-2031)||~5%|
|Annual growth 2020-2021||~2%|
|Share of major players in the residential water treatment devices market in 2021.||15%-20%|
Region – Governments unable to provide safe drink to all APEJ citizens
The APEJ region now represents 3/5and of the world’s population and growing rapidly. A UNICEF report estimates that the growth rate there far exceeds that of the number of people with access to drinking water. The 2011 Indian census indicates that 14% of households in the country do not have access to drinking water. In addition to this, large-scale industrialization and excessive use of pesticides are deteriorating the quality of natural water bodies in the APEJ region. Many bodies of water that provide water to millions of local residents have dangerously high levels of toxins. In China, more than 80% of water bodies, including shallow groundwater, have been affected by industrial waste and agricultural chemicals seeping into the nearest water body from the ground. and waste injection. In Indonesia, more than 75% of rivers are polluted with high levels of fluoride and arsenic, which directly leads to the death of approx. 50,000 people per year.
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Region – Increase in cases of waterborne diseases in North America
The United States has one of the safest drinking water systems in the world, but several cases of gastrointestinal illnesses are reported each year in the country due to inadequate public water systems that exclude the consumption of non-public systems. Waterborne contaminants can lead to many health problems such as vomiting, diarrhea, breathing difficulties, eye, ear and skin infections and pneumonia. Diseases such as giardiasis, cryptosporidiosis, otitis externa caused nearly 40,000 hospitalizations and cost just under a billion dollars each year in the country. The Clostridium difficile bacterium alone causes nearly 8,000 deaths per year. These deaths can be prevented with the help of devices available in the residential water treatment device market in North America, which is expected to be worth approximately US$7.8 billion in 2027, with the United States accounting for the ‘essential.
Equipment Type – Reverse Osmosis Most Popular Equipment Type
The reverse osmosis segment holds a market share of almost 60% in the residential water treatment device market in 2017 and is expected to reach 63% by the end of the forecast period. Reverse osmosis is projected to witness the highest CAGR of 9.7% in value from 2017 to 2027, compelling the major players in the residential water treatment device market to target this type of equipment. An absolute dollar opportunity of just under $1 billion in 2017 versus 2016 is waiting to be exploited in the reverse osmosis segment of the residential water treatment device market.
Residential Water Treatment Devices Market Competition Scorecard
The companies profiled in the Residential Water Treatment Devices market report are Amway Corporation, The 3M Company, Haier Group Corporation, Robert Bosch GmbH, Whirlpool Corporation, BRITA GmbH, Culligan International Company, Eureka Forbes, Kent RO Systems Ltd., Panasonic Corp ADR, LG Electronics Inc.,Hindustan Unilever Ltd., Mitsubishi Rayon Cleansui Co. Ltd., PT Holland, AO Smith Corporation, Mazuma Thailand Co. Ltd., Ceramica Stefani SA, Lorenzetti SA, PSA Industrias Pugliese SA , Europa Group and Indústria Brasileira de Bebedouros Ltda. HER
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Key insights into Residential Water Treatment Devices Market
The market for residential water treatment devices has been characterized by a lack of new technologies and slowness from major players. There has been no major investment in R&D and product differentiation is absent. Thus, price becomes the deciding factor for buyers and any company that can significantly reduce initial or maintenance costs is likely to reap significant benefits in the residential water treatment device market. Companies should try to introduce smart new products that offer a host of features such as heating or cooling water, adding flavors or multi-stage purification.
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