North America Household Water Treatment System Market Flourishing– Projected to Reach Worth USD 6,559.4 Million by 2027 | BlueWeave
Delhi, Jan. 27, 2022 (GLOBE NEWSWIRE) -- North America household water treatment market is anticipated to flourish due to the rising demand for household water treatment systems as a result of increasing water pollution and population influx in urban areas…
A recent study by the strategic consulting and market research firm BlueWeave Consulting revealed that the North America household water treatment systems market was worth USD 4,547.1 million in 2021. The market is further anticipated to reach USD 6,559.4 million in 2027 with a significant CAGR of 6.8% during the forecast period, i.e., 2022-2027.
The North America household water treatment system market is primarily supported by the rapid growth in the residential sector. Throughout the United States, household water treatment systems are used to treat water in houses. Home water supply systems obtain water from a treatment plant and make it available it to all appliances and (fixtures).
Growing number of water-borne diseases in the United States Bolstering The Growth Of The Market
According to one estimate released by Centres for Disease Control and Prevention (CDC), the United States may have been delivering one of the safest drinking water across the households. However, several study findings indicate a shocking statistic, stating that more than 7.14 million people suffer from water contamination diseases every year across the country. Not only that, the country has been at forefront of receiving some of the highest death toll amid developed nations with 6630 every year.
In addition to this, the CDC has also estimated the costs that the water borne diseases have brought to the U.S. healthcare system and it amounts to about USD 3.3 billion. Such a higher statistic demonstrates the growing need for accommodation of water treatment systems across the households that have brought the majority of the water diseases cases to the hospitals.
The other factor includes the growing emphasis of the government in improving the healthcare expenditure of the country to provide extensive healthcare support to improve the research and development of the impact of such diseases on human life, which may enhance the demand for water treatment systems in the coming years. In addition to this, the National Healthcare Expenditure registered a growth of 4.6% to reach USD 3.8 trillion by 2019.
The growing healthcare expenditure indicates a growing demand for water quality checks and regulations, which may positively impact the development of water treatment systems, thereby enabling a higher water quality delivered at home, thus bolstering the growth of the market.
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Growing number of housing projects across the countries is anticipated to bring a growing demand for water treatment system
The rising number of housing projects even amid the COVID-19 indicates toward a rising number of apartments that may get converted into new homes for individuals. The ongoing 5 major affordable living projects across the New York City comprising Archer Greens, 90 Sands St. and others, with an anticipated 387 and 246 housing units, respectively, there is a growing trend in the affordable housing projects across the country’s most expensive regions.
In addition to this, Canada is at the receiving end of some of the biggest residential construction projects for the upcoming years, that may generate enormous demand. Although the country has been witnessing a rising housing prices, however, the trend may help provide some room for a declining trend in the prices and make housing more affordable.
One residential project in Canada’s Montreal worth and estimated USD 300 billion is anticipated to become home to more than 800 families. With the construction projects witnessing a growing demand, the rising housing projects initiates equal opportunities for the demand of water treatment systems. As a result, a higher housing demand pushes for a higher consumption of water, which translates into a growing chance of receiving a higher contaminated water, thus generating a requirement of water treatment system. The proportionality between the factors are projected to enhance the growth of the market in the coming years.
Impact of COVID-19 on the North America Household Water Treatment System Market
COVID-19 has moderately affected the adoption of water treatment systems across the North America.. Due to the lockdown restrictions, consumers had to suffer some financial loss, disrupting their budgeting plans, which negatively affected the demand for water treatment systems to be installed in the households. However, the positive impact registered was the growth and exposure of clean water technologies across North America. Amidst COVID-19, several firms had to reduce their production and water usage due to supply chain disruptions and economic volatility, significantly impacting the commercial market for point of entry water treatment systems. Furthermore, due to the prevailing condition of COVID-19, many players are opting for online sales channels. In the second wave of pandemic, the bottled water delivery system was slightly impacted due to the concern of disease transmission. People across the globe, including North America, shift from bottled water delivery systems to water treatment systems for contactless water treatment in the household, which propelled the demand for household water treatment systems across North America.
For more info please visit press release of North America household water treatment system market: https://www.blueweaveconsulting.com/press-release/north-america-household-water-treatment-system-market-projected-to-reach-worth-usd-6-559-4-million-by-2027
Whole House Sediment Water Filter Accounted For Lucrative Market Share in the North America Household Water Treatment System Market
Based on products, the North America household water treatment system market is segmented into Countertop Reverse Osmosis Water Filter System, Ultra-Filtration Under Sink Water Filter System, Faucet Water Filtration System, Water Filter Pitcher, Refrigerator-Water-Filter-Replacement, Pool & Spa Filter Cartridge, and Whole House Sediment Water Filter. Among these, the whole house sediment water filter segment accounted for the largest share in 2021, followed by the countertop reverse osmosis water filter system segment, which held a lucrative market share in 2021. Counter-top filtration systems are becoming increasingly popular due to their ease of use, maintenance, and installation. Furthermore, these devices reduce contaminants such as bacteria, dirt, chlorine, particulates, rust, lead, mercury, silt, copper, benzene, cadmium, and cysts present in water.
The United States Dominates the North America Household Water Treatment System Market
North America household water treatment system market is segmented into the United States, Canada, and Mexico based on country. The United States accounted for the largest share in the market in 2021 and is expected to grow at a significant CAGR during the forecast period. Followed by the United States, Canada is anticipated to grow at a higher CAGR during the forecast period. The residential sector in Canada is thriving due to Canada's emerging economy. In Canada, residential real estate transactions totaled 486,800 in 2019, a 6.2% increase from a five-year low in 2018. The figure reflects increasing activity in Ontario and Quebec, where activity climbed by 9% and 11%, respectively. Home sales in the Greater Toronto Area (GTA) reached the second-highest level on record for October in 2021.
North America Household Water Treatment System Market- Competitive Landscape
The key players in the industry are Waterdrop, APEC Water Systems Culligan, Geekpure, Express Water Aqua Tru, Brondell, Max Water, Aquasana (AO Smith Corporation), 3M, Vitapur, Dupont, iSpring, and other prominent players. In response to rising environmental concerns, key players and brands have begun investing heavily in smart filtration technology that helps remove particles more efficiently while reducing water discharge.
The report's in-depth analysis provides information about the North America household water treatment system market's growth potential, upcoming trends, and statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the North America Household Water Treatment System market, along with industry insights, to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the market's growth drivers, challenges, and competitive dynamics.
Scope of the Report:
| Attribute | Details |
| Years Considered | Historical data – 2018-2021 |
| Base Year – 2021 | |
| Forecast – 2022 – 2027 | |
| Facts Covered | Revenue in USD Million |
| Market Coverage | United States, Canada, Mexico |
| Product/Service Segmentation | By Product, By Sales, By Region |
| Key Players | The key players in the industry are Waterdrop, APEC Water Systems Culligan, Geekpure, Express Water Aqua Tru, Brondell, Max Water, Aquasana (AO Smith Corporation), 3M, Vitapur, Dupont, iSpring, and other prominent players. |
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