Water Treatment System Market Can Attain an Outstanding Valuation of USD 28,072.6 million by 2023: MRFR

Pune, India, April 2019 /MRFR Press Release/- Market Research Future published a half-cooked research report on the global Water Treatment System Market. The Water Treatment System Market is expected to expand at 8.50% CAGR during the period 2018 to 2023.

Overview

The global water treatment system market is eyeing an unprecedented USD 28,072.6 million by 2023 with a CAGR of 8.05% during the forecast period (2023–2030). Market Research Future (MRFR) in their report envelops segments and drivers for a better glimpse of the market in the coming years.

The demand for water treatment system is poised to be driven by the rising per capita disposable income in emerging economies and rising awareness of water-borne diseases. However, the growth of the market can be hindered by high costs of equipment and maintenance. The integration of advanced technology with water treatment system is a development, which is anticipated to boost the adoption of smart water treatment systems, mainly in residences during the forecast period

Competitive Analysis

Prominent players profiled in the water treatment system market are Pentair Plc. (UK), Panasonic Corporation (Japan), LG Electronics (South Korea), Honeywell International Inc. (US), and Hindustan Unilever Limited (UK), COWAY CO., Ltd (South Korea), Culligan (US), Eureka Forbes (India), BWT Aktiengesellschaft (Austria), Tata Chemicals Ltd. (India), Global Water Solutions Ltd. (Jersey), and Whirlpool Corporation (US). Mergers, acquisitions, product development, and expansion are some of the strategies that these companies have adopted to stay ahead of the rest. 

For instance, in February 2019, Pentair acquired Aquion, Inc., present in Chicago, the US. This acquisition complements Pentair’s value chain for residential applications.

Similarly, in September 2018, LG Electronics launched its new range of PuriCare water purifiers WW180EP, WW170EP, WW160EP, WW121EP, WW120EP, WW130NP, and WW140NP in India, which caters to the various needs of end users. This has enabled it to expand its business in the country.

Segmental Analysis

The global water treatment system market is segmented based on technology, device, and end-use. On the basis of technology, the reverse osmosis segment is expected to dominate the market due to cost-effectiveness and efficient pathogen-elimination capability.

On the basis of device, counter-top units segment is expected to dominate the market, owing to the ability of the counter-top units to alkalinize drinking water and make it better for health.

On the basis of end-use, residential segment is likely to hold the maximum market share due to the growing population and rapid urbanization, around the world.  

Regional Analysis

Geographic analysis of the global water treatment system market spans across North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Asia-Pacific is the leading region in the global water treatment system market, with China, India, and Japan, being the major markets. China accounted for the largest market for water treatment system in Asia-Pacific owing to growing economy, emerging local players, and increasing export and import trade in China. Furthermore, technological innovations and growing demand for purified water from application industries are some other factors for market growth in this region. Moreover, the rapid rise in urban population in emerging economies, such as China, India, and Japan, are also boosting the growth of the water treatment system market in Asia-Pacific. The Asia-Pacific water treatment system market is expected to be valued of USD 10,528.1 million by 2023 at a CAGR of 8.92% during the forecast period.

In 2017, Europe held the second largest market share in the water treatment system market with a market value of USD 4,296.90 million in 2017. The Europe market is expected to be valued at USD 6,789.0 million by 2023 with an impressive 8.26% CAGR during the forecast period. Germany accounted for the largest market share in the Europe water treatment system owing to the growing population and higher economic performance. Moreover, the major factors, which are expected to drive the UK market are the rising preference for purified water, the high standard of living, and initiatives to prevent waterborne diseases.

In 2017, North America has key contribution in the share of the water treatment system market due to increased demand of household products, scarcity of clean water, and growing population. The growing awareness of waterborne diseases and growing water consumption for commercial and household purposes are some of the other major factors, which lead the market for water treatment system. Additionally, the concentration of several major players, including Culligan, Honeywell International Inc., and Whirlpool Corporation Corporation in the region adds to the market growth in North America. In 2017, the regional market was valued at USD 4,057.9 million, which is expected to reach USD 6,483.8 million by 2023 with a CAGR of 8.46% during the forecast period.

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