Water Purification System Market Revenue, Region & Country Share, Trends, Growth Analysis Till 2026 - IndustryARC
Asia Pacific is analysed to dominate the Water Purification System Market with a share of 36%, owing to the growing investments to establish water.
HYDERABAD, TELANGANA, INDIA, October 28, 2022 /EINPresswire.com/ -- The global Water Purification System market size is forecast to reach $ $45.73 billion by 2026, growing at a CAGR of 7.8% from 2021 to 2026. The system of Water purification is the process to eliminate water impurities, such as biological contaminants, suspended solids, undesirable chemicals & gas from the specific source of water. The Water Purification System Industry is growing exponentially due to the growth in the food & beverages, oil & gas, chemicals & petrochemicals, pharmaceuticals industries, which lead to the unregulated waste discharge into various water sources. With the rising awareness across the globe towards health concerns, advancement of the waterborne diseases, along with the lack of fresh water are expected to aid the growth of the Water Purification System Market.
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Key Takeaways
1. Asia Pacific is analyzed to dominate the Water Purification System Market with a share of 36%, owing to the growing investments to establish water & wastewater treatment & filtration, along with the growing demand of standard water usage by various industry verticals,
2. The Residential sector is estimated to hold the major share of 41% in 2020, owing to the growing urbanization, rising introduction of smart consumer electronics, along with significant demand of safer consumption water across households.
3. In order to procure safe drinking water, it is pertinent to eradicate impurities, chlorine by-products, and other dangerous viruses, thereby leading the market growth of the Water Purification System Market.
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Segmental Analysis:
Water Purification System Market Segment Analysis – By Product: By Product, the Water Purification System Market is segmented into Point-of-use Filters (Under the Counter Filters, Counter Top Filters, Pitcher Filters, Faucet-mounted Filters, and Others) and Point-of-Entry Filters. The Point-of-use Filters is estimated to hold the major share of 54% in 2020, owing to the potential demand of standard water quality for drinking and other significant household usage, massive rise of awareness regarding water therapy advantages and other innovative Purification solutions that promise clean drinking water. In April 2021, Elkay, the renowned Appliance manufacturer launched the touchless counter-top water dispenser, and expanded its Smartwell water dispenser range in the US.
Water Purification System Market Segment Analysis – By Industry Vertical: By Industry Vertical, Water Purification System Market is segmented into Residential, Oil & Gas, Energy, Chemicals & Petrochemicals, Food & Beverages, Pharmaceutical and Others. The Residential sector is estimated to hold the major share of 41% in 2020, owing to the growing urbanization, rising introduction of smart consumer electronics, along with significant demand of safer consumption water across households. In January 2021, Samsung launched BESPOKE water purifier, its first-ever AI-powered water purifier in the the Consumer Electronics Show (CES) 2021. The Samsung's BESPOKE water purifier is a modular design with customized options, such as a single faucet and multiple faucets. According to the United States Environmental Protection Agency, it is the primary aim to establish the Safe Drinking Water Act to develop protective drinking water standards.
Water Purification System Market Segment Analysis – By Geography: By Geography, Asia Pacific is analysed to dominate the Water Purification System Market with a share of 36%, and is also analysed to have a significant growth during 2021-2026. The growing investments to establish water & wastewater treatment & filtration, along with the growing demand of standard water usage by various industry verticals, such as chemicals & petrochemicals, oil & gas, food & beverages, pharmaceuticals, and more. In a number of industrialized nations, along with some developing countries of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) region, governments are investing more attention to enhance water quality in order to meet drinking-water standards. In December 2019, Kent launched a new purifier using ‘zero water wastage technology’.
Competitive landscape:
The top 5 players in the Water Purification System industry are:
1. Eaton Corporation
2. Suez Water Technologies & Solutions
3. Veolia
4. Dow Water & Process Solutions
5. Eureka Forbes Limited
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