Market Definition
Residential water treatment involves any procedure that improves the quality of water to make it suitable for drinking or any other household purposes. It is carried out in the area of water collection or usage. This enhances water quality & lowers diarrheal illness. Furthermore, the demand for residential water treatment facilities has been rising from the increasing consumer awareness & the inclination towards a healthier life across the globe.
Market Insights & Analysis: Global Residential Water Treatment Market (2023-28)
The Global Residential Water Treatment Market is projected to grow at a CAGR of around 5.26% during the forecast period, i.e., 2023-28. The market growth imputes to the rising health concerns & awareness of consumers toward the use of high-quality water. These mounting concerns among people over the surging incidences of waterborne diseases such as cholera, typhoid, polio, dysentery, diarrhea, and dysentery which has led to a surge in demand for residential water treatment globally.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 5.26% |
| Regions Covered | North America: US, Canada, Mexico |
| Europe: Germany, The UK, France, Spain, Italy, Rest of Europe | |
| Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific | |
| South America: Brazil, Argentina, Rest of South America | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA | |
| Key Companies Profiled | A.O Smith Corporation, Unilever, Kent Supreme, Eureka Forbes, Panasonic, Whirlpool, Aqua Care,, 3M Waterwise Inc, Aquasana, GE Appliances, BWT, Pentair, Others |
| Unit Denominations | USD Million/Billion |
Moreover, the rising adoption of desalination owing to stringent government regulations to reduce the level of pollutants in water is another crucial aspect projected to drive the Global Residential Water Treatment market. Further, the advent of technological advancements in this area is luring customers to purchase advanced & smart systems providing better quality & controls.
Additionally, the COVID-19 pandemic has surged the need for safe water & water treatment to contain the spread of the virus. As a result, many companies have been changing their marketing strategies to capture a large share of the market through improved cleanness & safety in their products, like stainless steel pipes, which are corrosion-resistant & rust-proof, hence less likely to cause contamination.
Furthermore, the rising penetration of various residential water purifiers in developing countries such as India, Indonesia, Brazil, etc., as well as the emergence of advanced & innovative water purifiers, are expected to drive demand for residential water treatment systems during the forecast period.
Global Residential Water Treatment Market Key Trends
Growing Demand for Smartphone-Connected Residential Water Treatment Systems - The Residential Water Treatment market is witnessing an increasing demand for smartphone-connected residential water treatment systems in recent years. Technological advancements in water treatment systems have introduced smart water treatment systems, which involve the use of sensors, smart meters, etc. New software products from manufacturers such as Bentley Systems & Siemens are widely integrated into water treatment systems, providing valuable information about leaks & water pressure well in advance, which is surging the popularity of these systems. These systems are based on the combination of the Internet of Things (IoT), big data, and artificial intelligence (AI) technologies that can help provide important information in advance & can offer precautionary solutions.
In addition, consumers are increasingly adopting smart water treatment systems because of their changing lifestyles and busy schedules. This helps reduce the time required for real-time and continuous monitoring of systems. In addition, the reduced operating cost & improved water quality are major factors for the rise in demand for such systems.
Global Residential Water Treatment Market (2023-28): Segmentation Analysis
The Global Residential Water Treatment Market study from MarkNtel Advisors analyses the major trends in each sub-segment and includes predictions for the period 2023–2028 at the global, regional, and national levels. The market has been segmented in our analysis based on system and technology.
Based on the System:
Here, the Countertop Filter System registered positive growth in the Global Residential Water Treatment market during the historical period. These systems are mounted on the counter & are directly linked to the faucet. It also includes a diverter that allows the option of choosing between filtered & unfiltered water. These filter does not require a change of filters.
Moreover, the spurring demand for these systems is the result of the ease & flexibility involved in using these systems in the residential sector. Further, the soaring popularity of reverse osmosis & activated carbon technologies is heightening the demand for countertop systems as they can be integrated with both technologies.
Based on Technology:
Among them, Reverse Osmosis (RO) dominated the Global Residential Water Treatment market in historical years due to the high efficiency of this technology, which removes around 99% of pollutants from the water. By using this technology, we could produce water that is equivalent to packaged water, enabling water reusability for a variety of purposes, such as cooking and drinking.
The emerging need for improving the quality & safety of water by eradicating organic microorganisms, chemicals, pathogens, suspended solids & particulates from it & reducing total dissolved salts (TDS) levels are the prime factors attributing to the rise in demand for RO-based water treatment during the forecast years.
Based on End User:
Of them, Residential Apartments have experienced considerable growth in the Global Residential Water Treatment market during the historical period. This growth is attributable to the rising use of water treatment systems to generate potable water for domestic consumption globally. The growth in the construction of apartments & villas in urban cities to meet the housing needs of the growing population is also affecting the Residential Water Treatment market positively, along with the expansion of sewage water treatment plants & bore water treatment plants. Thus, the residential apartment segment is expected to provide a lucrative opportunity for the growth of the market in the upcoming years.
Global Residential Water Treatment Market Regional Projection
Geographically, the Global Residential Water Treatment Market expands across:
Of all the regions, Asia-Pacific dominated the Global Residential Water Treatment market in the historical years. The major demand for treatment facilities is arising from the rapid urbanization & economic growth in Asia-Pacific. The presence of countries with high population growth, such as India & China, along with rising disposable income, such as Singapore & Australia, is generating the demand for water treatment facilities, owing to a surge in the number of residential units.
In addition, waterborne diseases such as typhoid, dysentery, cholera, and typhoid are common in the region. Furthermore, Southeast Asia is considered a hotspot of climate change, which worsens the region's situation with such diseases. As a result, the surging population is resulting in rapid urbanization & the growing number of waterborne diseases is expected to boost demand for residential water treatment facilities in the upcoming years.
Global Residential Water Treatment Market Recent Developments
Global Residential Water Treatment Market Key Driver:
Fight Against Waterborne Diseases to Boost the Demand for Residential Water Treatment Market - The rising consumer concern about health & safe drinking water is driving the Residential Water Treatment market during the historical period. Contaminated water & the resultant waterborne diseases are becoming a huge concern for the global population. Hence, to remove harmful chemicals, gases, suspended solids, and biological pollutants from drinking water, the demand for water treatment devices has been increasing around the globe.
Furthermore, freshwater resources such as lakes, reservoirs, and rivers provide more than 60 percent of the drinking water. Gallons of treated water gets wasted & polluted by various microbes & algae. These contaminants are raising the level of water contamination worldwide, resulting in an increased level of waterborne diseases, which would further escalate the demand for residential water treatment systems in the upcoming years.
Moreover, the rise in air & water temperature due to climate change is contributing to the risk of waterborne diseases such as cholera & typhoid. Thus, a spike in the number of waterborne diseases is projected to enhance the demand for the Residential Water Treatment market in the upcoming years.
Global Residential Water Treatment Market Possible Restraint:
Involvement of High Installation & Maintenance Costs to Hinder the Market - The major factor restraining the growth of the Global Residential Water Treatment Market is the high operational, maintenance, & installation costs of water treatment systems. A water softener, which is a type of water treatment, costs around USD2,000 & USD4,000, and it is a major problem for African & Asian countries as the regional houses are the least developed in the world. Further, the installation of these water treatment systems also necessitates the use of technicians & installers, which results in high installation costs, restraining consumers from buying these systems.
Moreover, some residential water treatment systems, such as distillation systems, have high operating & maintenance costs. Thus, the high costs involved with the operation of water treatment systems shall hinder the Global Residential Water Treatment market during the forecast period, 2023-2028.
Global Residential Water Treatment Market Growth Opportunities
Surging Government Programs to Create a Profitable Opportunity - Various consumers are adopting water treatment systems owing to government initiatives to improve the health of the population globally. Several governments & authorities are organizing programs & events to raise public awareness about the importance of water in the social & economic development of human life & the negative consequences of water contamination. For instance:
Hence, the increasing number of government programs & initiatives is further raising technological investments by companies for technological advancements & product development, which presents a lucrative opportunity for the Global Residential Water Treatment Solutions market in the forecast years.
Do You Require Further Assistance?
Frequently Asked Questions
A. The Residential Water Treatment Market is projected to grow at a CAGR of around 5.26% during 2023-28.
A. The residential apartment segment is the leading end-user for the growth of the Residential Water Treatment Market during 2023-2028.
A. The fight against waterborne diseases is the prominent factor that is expected to drive the Residential Water Treatment Market in the coming years.
A. O Smith Corporation, Unilever, Kent Supreme, Eureka Forbes, Panasonic, Whirlpool, Aqua Care, 3M, Waterwise Inc., Aquasana, GE Appliances, BWT, and Pentair are some of the top players in the Residential Water Treatment Market during the forecast period.
A. The growing demand for smartphone-connected residential water treatment systems is the key trend shaping the growth of the Residential Water Treatment Market during 2023-2028.
A. The involvement of high installation & maintenance costs are the possible restraints affecting the growth of the Residential Water Treatment Market during 2023-28.
Global Residential Water Treatment Market Research Report (2023-2028) - Table of Contents
