Global Home Water Filtration Unit Market Size By Product, By Application, By Geographic Scope And Forecast
Published on: 2024-08-03 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global Home Water Filtration Unit Market Size By Product, By Application, By Geographic Scope And Forecast
Home Water Filtration Unit Market Size And Forecast
Home Water Filtration Unit Market size was valued at USD 10.95 Billion in 2024 and is projected to reach USD 21.26 Billion by 2031, growing at a CAGR of 11.5% from 2024 to 2031
Global Home Water Filtration Unit Market Drivers
The market drivers for the Home Water Filtration Unit Market can be influenced by various factors. These may include
- Health Concerns The market for household water filtration systems is being driven by rising knowledge of waterborne illnesses and the health hazards linked to pollutants like lead, chlorine, and microbiological pathogens in tap water.
- Environmental Awareness Growing worry about the sustainability of the environment encourages customers to use filtration systems as a more environmentally responsible substitute for bottled water, therefore lowering plastic waste.
- Infrastructure and Urbanisation Concerns concerning water quality arise from the burden that rapid urbanisation frequently puts on water infrastructure. When trying to raise the calibre of their tap water, homeowners look to filter devices.
- Technical Advancements Home water filtration systems that are more effective and reasonably priced are developed as a result of filtration technology innovations, which draw customers seeking cutting-edge solutions.
- Government Rules To guarantee access to clean and safe drinking water, people are required to invest in home filtration systems by strict rules imposed by regulatory bodies on water quality and safety requirements.
- Consumer Preferences As people give health and wellness first priority, the need for residential water filtration systems is being driven by their shifting lifestyles and preferences towards healthy living.
- Marketing and Education Good marketing campaigns and educational programmes run by public health groups and filtration firms increase knowledge of the advantages of household water filtration, which affects customer decisions to buy.
- Concerns about Water Scarcity As a way to save and maximise water use, household water filtration systems are becoming more and more popular in some areas.
- Demographic Trends Because they are more sensitive to health problems associated to water, ageing populations—especially those in industrialised nations—are more likely to purchase household water filtration systems.
Global Home Water Filtration Unit Market Restraints
Several factors can act as restraints or challenges for the Home Water Filtration Unit Market. These may include
- High Initial Investment Some prospective customers may go for less expensive options or decide not to invest in filtration systems at all because the cost of installing a household water filtration device can be substantial.
- Costs of Maintenance Consumers may also be discouraged by continuing maintenance expenses in addition to the original outlay. Over time, service, repairs and replacement filters can mount up, increasing the total cost of ownership.
- Limited Knowledge and Education A lot of customers might not know all there is to know about water filtration systems or the possible dangers in their water supply. A lack of knowledge can result in less people needing filtering systems.
- Alternative Solutions Available In the near run, consumers may find that boiling water, pitcher filters, or bottled water are more convenient or reasonably priced.
- Perceived Water Quality There might not be as much of a market for home water filtration systems in areas where tap water is thought to be of excellent quality or where water contamination is not a big worry.
- Regulatory Compliance Tight guidelines and requirements for the quality of water may lessen the perception in some places of the necessity for more filtration techniques, which would affect demand.
- Infrastructure Issues Because of financial or practical difficulties, some areas—especially rural or developing nations—may find it difficult or impossible to implement home water filtration systems.
- Consumer Preferences If water quality is not seen to be an urgent problem, some customers may value other household appliances or upgrades over water filtration devices.
- Technical Limitations Demand may be hampered by the perception by some customers that household water filtration systems are inefficient or incapable of eliminating all impurities, even with the progress in filtration technology.
- Economic Factors Consumers may put off discretionary purchases, such as home water filtration systems, in favour of necessary goods or services during recessions or other unsettling financial times.
Global Home Water Filtration Unit MarketSegmentation Analysis
The Global Home Water Filtration Unit Market is Segmented on the basis of Product, Application, And Geography.
Home Water Filtration Unit Market, By Product
- RO-based
- UV-based
- Others
Based on Product, the market is bifurcated into RO-based, UV-based, and Others. The RO-based segment holds the largest market share and is estimated to witness the highest CAGR during the forecast period. The factors that can be attributed to the benefits of advanced technology that is specialized to remove 90% to 99% of contaminants present are accelerating the demand for this segment.
Home Water Filtration Unit Market, By Application
- Residential
- Commercial
Based on Application, the market is bifurcated into Residential and Commercial. The residential segment holds the largest market share during the forecast period. The factors that can be attributed to the increase in disposable income, demand for water purification systems, and increase in concerns toward health and well-being among the global population are fueling the demand for this segment.
Home Water Filtration Unit Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
On the basis of Regional Analysis, the Global Home Water Filtration Unit Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia-Pacific holds the largest market share. An increasing number of the urban population, rising per capital expenditure, a higher concentration of impurities present in water, and strong governmental initiatives boosting the market in the Asia Pacific region
Key Players
The major players in the Home Water Filtration Unit Market are
- Best Water Technology Group(BWT)
- Brita GmbH
- Panasonic
- Amway Corporation
- Aquasana
- GE Water & Process Technologies Inc.
- HaloSource Inc.
- Kent RO System Ltd.
- SpringWell Water Filter Systems
- Lenntech B.V.
- Eirsoft Water.
- Eureka Forbes Ltd.
- Kent RO Systems Ltd.
- Tata Chemicals Ltd.
- Amway Corp.
- GE Appliances
- Panasonic Corporation
- LG Electronics
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
Study Period | 2021-2031 |
Base Year | 2024 |
Forecast Period | 2024-2031 |
Historical Period | 2021-2023 |
Unit | Value (USD Billion) |
Key Companies Profiled | Best Water Technology Group (BWT), Brita GmbH, Panasonic, Amway Corporation, Aquasana, GE Water & Process Technologies Inc. |
Segments Covered |
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Customization scope | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Research Methodology of Market Research
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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