Home Water Filtration Unit Market Size Worth $24.1 Billion by 2025: Grand View Research, Inc.
SAN FRANCISCO, July 22, 2019 /PRNewswire/ — 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.
Key suggestions from the report:
- 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.
Read 80 page research report with TOC on “Home Water Filtration Unit Market Size, Share & Trends Analysis Report By Product (RO-based, UV-based), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2019 – 2025″ at: https://www.grandviewresearch.com/industry-analysis/home-water-filtration-unit-market
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.
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)
- Home Water Filtration Unit Regional Outlook (Revenue, USD Billion, 2015 – 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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