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 & Analysis: Europe Residential Water Treatment Market (2022-27)
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.
Europe Residential Water Treatment Market (2022-27): Segmentation Analysis
The Europe Residential Water Treatment Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2022–2027 at the global, regional, and national levels. Based on the Product Type, and Technology the market has been further classified as:
Based on the Product Type:
Of both, the demand for Point-of-Use (POU) water treatment is anticipated to grow significantly in the coming years, mainly due to the increasing requirements for filtration systems across the residential sector in Europe.
Point-of-Use is a filtration system that treats water at a single tap. It is usually installed under the kitchen's sink to attain high-quality & clean drinking water. The growing awareness about the benefits of water treatment, technological innovations in the water treatment sector, coupled with growing consumer income, particularly in emerging countries, shall further surge the demand for POU water treatment systems and fuel the overall market growth during 2022-27.
Based on Technology:
Here, Reverse Osmosis (RO) dominated the Europe Residential Water Treatment Market in 2019. This technology removes around 99% of pollutants from the water and, in turn, provides water quality equivalent to packaged water that enables the water reusability for different purposes like cooking & drinking. The emerging need for improving the quality & safety of water by eradicating organic microorganisms, chemicals, pathogens, & suspended solids from it and reducing TDS levels is the prime factor attributed to the maximum demand for RO-based water treatment in 2019 and contributed to the overall market growth.
Europe Residential Water Treatment Market Regional Projection
Geographically, the Europe Residential Water Treatment Market expands across:
Amongst all countries across Europe, Germany is expected to lead the Residential Water Treatment Market through 2027. The stringent regulations by the German government on maintaining the standards of drinking water that must fulfill the strict quality requirements are likely to drive the residential water treatment market in Germany through 2027.
The Drinking Water Ordinance (‘TrinkwV’) defines that drinking water must be free from hazardous substances & pathogens, pleasant to taste, and colorless & odorless.
Besides Germany, France is actively participating in water treatment by setting up various policies for the water sector at the national & local levels. For instance:
Hence, the aspects cited above indicate that Germany & France would yield significant growth opportunities for the Residential Water Treatment Market across Europe in the coming years.
Europe Residential Water Treatment Market Key Driver:
Mounting Need for Potable Water across Europe - During 2022-27, the Europe Residential Water Treatment Market would be driven primarily by the rapidly increasing demand for potable water among the flooding population across Europe. Additionally, the growing instances of waterborne diseases, coupled with various government policies for improving the drinking water quality, are other critical aspects expected to boost the market in the coming years.
Europe Residential Water Treatment Market Growth Challenge:
High Costs associated with Water Treatment Systems - The major factor that might restrain the growth of the Europe Residential Water Treatment Market during 2022-27 is the high operational, maintenance, & installation costs of water treatment systems. Moreover, the mounting utilization of packaged drinking water across the region is another vital aspect that may adversely impact the market in the coming years.
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Frequently Asked Questions
A. The Europe Residential Water Treatment Market is expecting around 4.44% CAGR during 2022-27.
A. Point-of-Use water treatment systems are projected to emerge as an area of remunerative opportunities for the leading players in the Europe Residential Water Treatment Market through 2027.
A. The escalating rate of waterborne diseases and various norms led by the governments of European countries toward improving the drinking water quality are the key growth opportunities projected to drive the Europe Residential Water Treatment Market in the coming years.
Europe Residential Water Treatment Market Research Report (2022-2027) - Table of Contents
