About Residential Water Treatment Equipment
Water treatment is the practice of converting used or polluted water to a safe, usable state and making it suitable for different applications. This practice consists of methods that remove unwanted elements and add essential elements. Different water treatment equipment converts the wastewater into potable water that is acceptable for many applications.
Technavio’s analysts forecast the global residential water treatment equipment market to grow at a CAGR of 14.93% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global residential water treatment equipment market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail sales of residential water treatment equipment worldwide.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Residential Water Treatment Equipment Market 2016-2020
Technavio recognizes the following companies as the key players in the global residential water treatment equipment market: 3M, EcoWater Systems, General Electric, Mitsubishi Rayon, and Pentair.
Other prominent vendors in the market are: Affordable Water Treatment, Bergerson-Caswell, Brita, Coway, Eureka Forbes, Hyflux, Kent RO Systems, Koninklijke Philips, KITZ MICRO FILTER, Kurita Water Industries, LG, Litree, May Supply, Norlen's Water Treatment, OSG, Ozone Pure Water, Panasonic, Pargreen Process Technologies, Pure Water Technology, Safe Water Technologies, Thermax, Water-Right, and Whirlpool.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is collaboration between private players and governments to meet growing demand for safe water. According to the UN, by 2050, at least one in four persons will be living in a country affected by a chronic shortage of fresh water. The governments in many countries are facing constraints in the budget and are not capable of meeting the growing residential demand for water. Many non-profit organizations like NSF are working with manufacturers like 3M to supply residential water treatment equipment at reduced prices. In addition, many companies are trying to use price discrimination techniques to boost sales volumes in developing countries. To offset reduced profits, equipment manufacturers try to sell their wares at higher prices in affluent countries.”
According to the report, one of the primary drivers in the market is increasing environmental pollution worldwide. The increasing industrial and environmental pollution worldwide is fueling the need for water treatment equipment, along with increased awareness about drinking water quality and health. Wastewater from industries carries chemicals that are discharged in open land or rivers. This leads to high contamination of land water bodies and hence a decrease in water quality. The contaminants present in various water sources include mud, silt, algae, and bacteria. Since water is a necessity for survival, consumers are becoming increasingly cautious and are taking steps to reduce the effects of contamination in sources of residential water supply (from lakes, rivers, wells, municipal water systems, and even glaciers). Water treatment is done so as to remove or reduce the existing water contaminants, and to make water usable for various purposes, including drinking. The contaminated water is treated by POE or POU. So, negative industrial and environmental effects are making consumers opt for water treatment equipment.
Further, the report states that one major challenge in the market is consumer perspective. Players sometimes make misleading claims regarding their product’s efficiency, quality, credibility, technology, and suitability so as to make the most of the water quality issues faced by the consumers. Also, at times players promote their products as having outstanding filtering capabilities when, in reality, those claims are not approved or accredited by any local agencies or ministries. These misleading claims often lead to a lack of trust among consumers and drive them toward traditional methods of treating water.
3M, EcoWater Systems, General Electric, Mitsubishi Rayon, Pentair, Affordable Water Treatment, Bergerson-Caswell, Brita, Coway, Eureka Forbes, Hyflux, Kent RO Systems, Koninklijke Philips, KITZ MICRO FILTER, Kurita Water Industries, LG, Litree, May Supply, Norlen's Water Treatment, OSG, Ozone Pure Water, Panasonic, Pargreen Process Technologies, Pure Water Technology, Safe Water Technologies, Thermax, Water-Right, Whirlpool.