Market Definition
With the rising population, the need for safe drinking water is growing exponentially across Europe. However, with the depleting water levels, there’s an immense need to develop a reliable water treatment infrastructure to fulfill the rapidly increasing water requirements across the region. Hence, governments of different European countries are taking various initiatives to install multiple water treatment plants, recycle residential wastewater, & produce potable water for several applications.
Market Insights
The Europe Residential Water Treatment Market is projected to grow at a CAGR of around 4.44% during the forecast period, i.e., 2022-27. The growth of the market is likely to be driven primarily by the rapidly growing water consumption levels due to the several residential construction activities and the booming influx of migrations in Europe.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 4.44% |
| Key Companies Profiled | Honeywell, Pentair, Panasonic, Unilever, 3M, Culligan, AO Smith, Brita GmBH, BWT, DuPont |
| Unit Denominations | USD Million/Billion |
In addition, the mounting concerns among people over the surging incidences of waterborne diseases, increasing adoption of desalination, and stringent government regulations to reduce the level of pollutants in water are other crucial aspects projected to drive the residential water treatment market across Europe through 2027.
Wastewater from households & industries that contains a lot of organic matter and nutrients like phosphorus & nitrogen released into waterways makes the river or a stream unsuitable for marine invertebrates & fishes. As a result, governments of various European countries are taking several initiatives to implement effective water treatment. Moreover, the paradigm shift toward using green chemicals for water treatment shall further offer lucrative opportunities for the leading players in the market over the forecast years.
Covid-19 Positively Impacted the Europe Residential Water Treatment Market
In 2020, the Covid-19 pandemic severely impacted most industries across Europe, but the Residential Water Treatment Market witnessed a positive impact. With the threat of the virus spreading, the water consumption levels to maintain hygiene substantially increased and further fueled the need for safe water & water treatment. Moreover, several studies indicated the presence of viral Ribonucleic Acid (RNA) in wastewater, which infused an urgent need for massive research on finding suitable water treatment & disinfection methods. Besides, the rising demand for water treatment chemicals to assess the possibility of SARS-CoV-2 transfer through water also contributed to the overall market growth amidst the crisis.
