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The residential drinking water treatment equipment market size is forecast to increase by USD 5.91 billion, at a CAGR of 7.46% between 2023 and 2028. The growth of the market depends on several factors such as the increasing instances of waterborne diseases and deteriorating water supply quality, the increasing penetration of low-cost equipment, and the growing online and omnichannel retailing of residential drinking water treatment equipment
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the increasing instances of waterborne diseases and deteriorating water supply quality. With the rapid increase in urbanization and heavy industrialization, several power and chemical plants are being established across the world. In addition, these plants release hazardous materials and dispose of toxic materials into water bodies such as rivers, ponds, and reservoirs.
Moreover, this practice pollutes not only the surface water but also groundwater. In addition, this contaminated water gradually enters the larger water bodies that are used as the source of drinking water. Therefore, owing to the high prevalence of waterborne diseases and degradation of drinking water quality, in recent times, consumers are becoming more aware of using purified water for drinking. Hence, the deteriorating water quality and the increasing awareness of the health hazards of consuming contaminated and impure water are expected to drive the growth of the global market during the forecast period.
A key factor shaping the market growth is the growing demand for premium residential drinking water treatment equipment. Competition in the global market is increasing. In addition, innovations and technological advances have changed consumer preferences and increased the demand for innovative products. Furthermore, companies focus on R&D and innovation to sustain themselves in the competitive market environment.
Moreover, with growing purchasing power and rising disposable incomes, customers are gradually increasing their spending on equipment. In addition, this has encouraged vendors to invest in innovative raw materials and technologies that can improve the performance of appliances and help enhance water treatment at home. Therefore, companies focus on pricing strategies to increase their bottom-line (profit) margins by setting premium pricing for innovative and tech-savvy products. Hence, such factors are driving the market growth during the forecast period.
The easy availability of packaged drinking water is one of the key challenges hindering market growth. Packaged drinking water has a significant penetration rate in suburban areas and acts as a strong substitute for treated water, which, in turn, hampers the demand for the equipment. In addition, the rise in health consciousness, poor quality of tap water, and changing consumer lifestyles have increased the demand for packaged water.
Moreover, most consumers residing in rural areas of developing countries and underdeveloped countries prefer to use packaged water as it is inexpensive and easily available in bottles and cans of different sizes, allowing consumers to buy the product as per their convenience and requirements. In addition, the demand for packaged drinking water is growing in developing countries such as India. Furthermore, the availability of product variants such as flavored and vitamin-rich water helps in their demand growth. Hence, such factors are hindering the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
A. O. Smith Corp: The company offers residential drinking water treatment equipment such as A.O. Smith LS03U Whole House Water Filtration System and AOS System 103 Whole House Water Filtration System.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The dealers and distributors segment is estimated to witness significant growth during the forecast period. Organized retailing is an essential part of the offline distribution channel, including dealers and distributors. In addition, dealer and distributor distribution channels are popular among consumers as they offer a diverse range across varied price ranges. Furthermore, customers mainly prefer purchasing residential drinking water treatment equipment from dealers and distributors as they get the required technical insight and personal assistance provided by the sales personnel.
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The dealers and distributors segment was the largest segment and was valued at USD 4.18 billion in 2018. Moreover, this helps customers understand all the innovative features and the latest technologies that are integrated into residential water treatment equipment. In addition, while purchasing residential drinking water treatment equipment, consumers consider factors such as convenience, enormous stock-keeping units (SKUs), and brand availability with a wide product range. Furthermore, to drive sales through offline channels, vendors are directing their sales through local retail entities. In addition, companies are driving sales by implementing different marketing strategies, such as offering discounts and promotions at events. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. A significant portion of the demand for residential drinking water treatment equipment comes from higher-population countries including China and India. In addition, the growing incidence of waterborne diseases in APAC has made consumers conscious of their health and sanitation. Moreover, this is compelling consumers of the middle-class population to adopt the equipment as a source of pure drinking water. In addition, new product launches, increased marketing and promotion efforts, and expansion in distribution networks are some of the factors driving the growth of the market in APAC during the forecast period.
The Residential Water Treatment Devices Market responds to health concerns and consumer awareness regarding contaminants in drinking water. Technical advancements include water treatment apps and ultraviolet sterilization methods. Consumers prefer environmentally friendly purification methods, yet face challenges such as high maintenance costs and lack of awareness. The market addresses issues of harsh water, rising population, and groundwater pollution caused by fertilizers and industrial waste. Short-term measures focus on rising consumer preferences, while medium and long-term strategies involve government measures and research to combat diseases spread through contaminated water, emphasizing the importance of water protection regulations.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends and growth opportunities from 2018 to 2028.
Residential Drinking Water Treatment Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
183 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.46% |
Market Growth 2024-2028 |
USD 5.91 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.28 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, India, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
A. O. Smith Corp., Amway Corp., Aquafresh RO System, AQUAPHOR International OU, Berkshire Hathaway Inc., BRITA SE, Coway Co. Ltd., Culligan International Co., Eureka Forbes Ltd., Havells India Ltd., KENT RO Systems Ltd., Koninklijke Philips N.V., LG Corp., Panasonic Holdings Corp., Pentair Plc, SAR Group, Unilever PLC, Waterlife, Whirlpool Corp., and Honeywell International Inc. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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