18-Nov-2019: The global home water
filtration unit market size is expected to reach USD 24.1
billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 15.9% over the forecast period. Growing consumer
awareness about increased microbial and chemical contamination of surface water
and its harmful effects on human health due to increased dependency on bottled
water across the globe is likely to create a robust demand for the market over
the anticipated years.
Augmenting
awareness among consumers regarding the unfavorable effects of contaminated
surface water has resulted in a significant shift in their preference for
domestic water purification methods. Rising concerns over various waterborne
diseases such as E.Coli, typhoid, and cholera have increased the product demand
for domestic purpose. For instance, Kent launched Kent Grand Plus, coupled with
TDS controllers, to ensure the purest drinking water for domestic purpose. Kent
water purifier products are ideal for Indian conditions because they are
equally easy to handle municipal water supply and natural groundwater.
Easy availability
of packaged drinking water is a stiff challenge for the global market. In suburban
areas, packaged drinking water has a high rate of penetration and acts as a
powerful substitute for treated water. But there are many chemicals in plastic
drinking bottles such as bisphenol-A (BPA) leading to heart problems, altered
hormonal levels, and increased risk of cancer. Due to such adverse effects,
Canada and Japan banned the use of BPA in 2008 and 2010 respectively.
RO-based product is
expected to expand at the fastest CAGR of 16.2% over the forecast period. Using
a semi-permeable membrane to remove impurities, reverse osmosis (RO) technology
extends beyond typical filtration capabilities. Hence, demand for this product
category is high in the market owing to the fact that this process not only
kills microbes but also removes harmful metals such as lead and mercury. For
instance, in 2019, German water filtration technologies company, BRITA began
its operation in India by launching a new range of water purifiers, namely
MyPure Max. This product range involves a combined RO+UV technology and is
expected to be initially sold via direct sales.
The APAC market is
expected to generate a revenue of USD 9.0 billion by the end of 2025. Demand
for the purifiers is expected to increase in this region due to a significant
rise in competitors, accompanied by large scale R&D investments made by
such companies. Inflating demand for such purifiers in the APAC region is due
to higher concentration of impurities present in untreated surface water. For
instance, companies such as Eureka Forbes, Livpure, and AO Smith have launched
a number of domestic category products over the past few years due to high
demand for the purifiers in India and its subcontinent.
Rapid urbanization
and increasing cases of waterborne diseases have made the consumers cautious
about the health risks associated with impure drinking water, especially in
developing countries such as Argentina, Paraguay, China, India, and Sri Lanka.
Rising purchasing power parity of consumers in these countries has led to a
positive boost in the demand over the past few years.
Some of the key
players operating in the market are Best Water Technology Group; HaloSource
Inc.; Brita Gmbh; Aquasana; Tata Chemicals; Eureka Forbes Limited; Panasonic;
Kent RO System Ltd.; Amway Corporation; EvoQua; and GE Water & Process
Technologies Inc.
In
depth research report on Home Water Filtration Unit Market
Further key findings from the study suggest:
·
APAC is projected to generate a revenue of USD 9.0 billion by
2025
·
The RO-based product segment is projected to exhibit the
fastest CAGR of 16.2% over the coming years
·
Europe is expected to emerge as the second fastest growing
region in the home water filtration unit market and expand at a CAGR of 16.4%
over the forecast period. This trend is projected to continue over the
anticipated years
·
The industry is highly competitive in nature with the major
players including Brita Gmbh, Aquasana, Tata Chemicals, Eureka Forbes Limited,
Panasonic, Kent RO System Ltd. Amway Corporation, and EvoQua.
Grand View Research
has segmented the global home water filtration unit market on the basis of
product and region:
Home water Filtration Unit Product Outlook (Revenue, USD
Billion, 2015 - 2025)
·
RO-based
·
UV-based
·
Others
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About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
