Residential Water Treatment Equipment Market in the US 2017-2021
About Residential Water Treatment Equipment
Water treatment makes water safe to use by removing chemicals, contaminants, and other harmful biological contaminants. The residential water treatment equipment market in the US encompasses water filters and purifiers that remove the contaminants from water and make it useful for drinking. Based on technology, water purifiers are divided into RO, UV, gravity, and multiple technology. The need of water treatment is because of factors like scarcity of water, which necessitates the recycling of water for further use. Technavio’s analysts forecast the residential water treatment equipment market in the US to grow at a CAGR of 11.76% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the residential water treatment equipment market in the US for 2017-2021. To calculate the market size, the report considers value sales of water treatment equipment.Technavio's report, Residential Water Treatment Equipment Market in the US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Residential Water Treatment Equipment Market in the US 2017-2021
Technavio recognizes the following companies as the key players in the residential water treatment equipment market in the US: 3M, EcoWater Systems, Haier, Pentair, and Whirlpool.
Other Prominent Vendors in the market are: Affordable Water Treatment, AMPAC USA, COWAY, Eureka Forbes, Hyflux, Koninklijke Philips, LG, Litree, May Supply, Ozone Pure Water, Panasonic, and Water Right.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is smart water purifiers. The US is one of the most developed countries in the world with high penetration of internet and smartphones. There is an increasing demand for digital technologies and products that are easy and convenient to use. Consumers are ready to pay more for products if they save their time and effort.”
According to the report, one driver in the market is concerns about quality of water. Some concerns of consumers about water quality are hardness, the presence of chemicals and virus, need for UV treatment, and rise in contaminants and pollutants. Customers' impression of municipality water is not good owing to the bad quality of water, which gives rise to diseases. A large number of people die due to consumption of contaminated water in developing countries. This is also occurring in industrialized and developed countries like the US.
Further, the report states that one challenge in the market is low product differentiation. Product differentiation helps build a competitive advantage over other market vendors. It is the unique value that manufacturers add to their products. Manufacturers need to continuously introduce new products to satisfy the needs of the customers, who want superior performance and greater efficiency of water treatment equipment. However, some of the key players are not able to meet such expectations, which will leave some customers dissatisfied.
3M, EcoWater Systems, Haier, Pentair, Whirlpool, Affordable Water Treatment, AMPAC USA, COWAY, Eureka Forbes, Hyflux, Koninklijke Philips, LG, Litree, May Supply, Ozone Pure Water, Panasonic, and Water Right.