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The hot and cold water dispensers market size is estimated to grow at a CAGR of 7.65% between 2022 and 2027. The market size is forecast to increase by USD 1,200.03 million. The growth of the market depends on several factors such as the rising awareness of health and hygiene, the growing focus on workplace wellness, and the expansion of retail and hospitality sectors.
This hot and cold water dispensers market report extensively covers market segmentation by product (bottles and plumbed-in), end-user (commercial and residential), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 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 hot and cold water dispensers market growth is the rising awareness of health and hygiene. There is a growing awareness regarding health and hygiene among people which is significantly contributing to the market growth. In addition, there is a rising consciousness regarding the importance of safe and clean drinking water, resulting in a surge in demand for hot and cold water dispensers as a reliable source of filtered water.
Moreover, several individuals are seeking alternatives to traditional drinking water sources, including tap water or bottled water. As a result, there is an increasing adoption of water dispensers equipped with advanced filtration systems as they provide a convenient and efficient solution, ensuring that the water is free from impurities and contaminants. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the market growth is the increasing adoption of energy-efficient hot and cold water dispensers. There is a growing awareness among consumers regarding their energy consumption and the need to reduce their carbon footprint. As a result, several consumers are opting for energy-efficient options for their home and office appliances. The growing adoption of energy-efficient hot and cold water dispensers is fuelled by its several benefits.
Moreover, the dispensers are designed in such a way that it helps to reduce energy consumption by leveraging advanced technologies and insulation materials. Some of the advanced features of these dispensers include advanced heating and cooling systems, temperature control options, and energy-saving modes. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
Low product replacement cycles are one of the key challenges hindering the hot and cold water dispensers market growth. A replacement cycle can be defined as the frequency at which electronic items, including hot and cold water dispensers, are replaced. Most of the hot and cold water dispensers have high lifecycles. As a result, it only needs to be replaced after longer periods of time.
Moreover, the hot and cold water dispensers have significantly low replacement cycles due to their good quality products that can endure long use with minimum but regular maintenance. Furthermore, several branded products are durable and are of a superior build. Hence, eliminating the need to purchase new electronic items, including hot and cold water dispensers is negatively impacting the market which in turn will hinder 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 Hot and Cold Water Dispensers 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.
Avalon Water Coolers: The company offers hot and cold water dispensers such as Avalon1 top-loading bottled water cooler dispensers.
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 bottles segment is estimated to witness significant growth during the forecast period. This segment plays a major role in offering a convenient and efficient way for consumers to access clean and refreshing drinking water. There is an increasing demand for this segment fuelled by the growing demand for safe and hygienic water sources and it offers practical solutions for homes, offices, and public spaces. This segment is mainly designed to accommodate bottled water, especially ranging from small 5-gallon jugs to larger 20-liter containers.
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The bottles segment was the largest segment and was valued at USD 1,422.73 million in 2017. The main advantage of this segment is features both hot and cold water options, enabling users to enjoy the temperature of their choice at any time. In addition, portability and ease of use are some of the main benefits of this segment. Furthermore, this segment is suitable for places without access to a direct water connection or regions with limited water quality. Moreover, the versatility of this segment makes it suitable for various environmental settings, and ensuring clean drinking water is accessible wherever it is needed is fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 37% 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. Some of the main factors that are significantly contributing to the growth of the hot and cold water dispensers market in North America are the presence of key vendors, increasing awareness about clean and safe drinking water, and growing investments in home appliances.
In addition, factors such as climate change and the burgeoning population are positively impacting the market growth in the region. The US, Canada, and Mexico are some of the main countries in North America which are significantly contributing to the market growth in the region. Furthermore, there is a growing popularity and adoption of smart household technologies, especially in the US and Canada, which is expected to drive market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global hot and cold water dispensers market witnessed a significant slowdown due to the temporary closure of businesses, schools, and public spaces in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the reopening of businesses and institutions. Such factors are expected to drive the market during the forecast period.
The hot and cold water dispensers market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Hot And Cold Water Dispensers Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.65% |
Market growth 2023-2027 |
USD 1,200.03 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.01 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Atlantis, Avalon Water Coolers, Avanti Products LLC, Blue Star Ltd., Breville Pty Ltd, Celli Spa, Clover Co. Ltd, Culligan International Co., Haier Smart Home Co. Ltd., Honeywell International Inc., KENT RO Systems Ltd., LUQEL Ltd, Midea Group Co. Ltd., Panasonic Holdings Corp., Pentair Plc, Primo Water Corp., Sas Bakery Equipments., Tata Sons Pvt. Ltd., Waterlogic Holdings Ltd, and Whirlpool Corp. |
Market dynamics |
Parent market analysis, 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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