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SAN FRANCISCO , June 15, 2022 /PRNewswire/ -- The global point of use water treatment systems market size is expected to be valued at USD 54.5 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 19.0% from 2022 to 2030. Increasing water pollution, coupled with growing awareness regarding a healthy lifestyle, is a key factor propelling the market growth. Increasing adoption of water purifier systems is predicted to drive the global market over the forecast period. Favorable government laws to ensure the supply of clean and potable drinking water are further expected to augment business growth in the coming years.
Key Industry Insights & Findings from the report:
Read 115-page market research report, "Point Of Use Water Treatment Systems Market Size, Share & Trends Analysis Report By Technology (RO Systems, Distillation Systems), By Application, By Device, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Point of Use Water Treatment Systems Market Growth & Trends
The increasing demand for clean water, coupled with growing investments to boost efficiency, is likely to provide a boost to the market growth over the forecast period. A significant reduction in the costs of raw materials and components, along with favorable government initiatives, is likely to encourage the growth of the market. Governments across the globe are encouraging wider adoption of water treatment systems to avoid an epidemic of water-borne diseases. For instance, the WHO's Water, Sanitation and Hygiene (WASH) project initiative has targeted a worldwide elimination of diarrhea and untreated excreta that contaminates groundwater and surface waters used for irrigation, drinking water, household purposes, and bathing.
In terms of technology, reverse osmosis systems held over 30.0% share based on revenue in 2021. Established technology, coupled with the economical costs of units in comparison to other technologies, is predicted to have a positive impact on the growth of the market by 2030. The filtration methods segment size is predicted to be valued at USD 14.0 billion by 2030. Higher efficiency, enhanced capacity, and affordable pricing are projected to boost market growth during the forecast period.
The tabletop pitchers device segment held the largest revenue share of over 30.0% in 2021. Tabletop pitchers are widely adopted owing to the convenient use, coupled with affordable prices and longer shelf life of the product. The faucet mounted filters segment was the second largest segment in 2021. This segment has a large-scale penetration in Indian and African countries mainly due to its affordable pricing and low replacement costs.
According to the Water and Wastewater Equipment Manufacturers Association (WWEMA), the economic impact of rising inflation and commodity prices (such as steel) and labor shortage had adversely impacted the market. In the U.S., supply chain disruption during the COVID-19 pandemic resulted in fewer installations and lower service schedules, which was exacerbated by a lack of personnel, vehicles, and drivers to transfer cargo from the ports.
Point of Use Water Treatment Systems Market Segmentation
Grand View Research has segmented the global point of use water treatment systems market on the basis of technology, application, device, and region:
Point Of Use Water Treatment Systems Technology Outlook (Volume, Million Units; Revenue, USD Billion, 2018 - 2030)
Point Of Use Water Treatment Systems Application Outlook (Volume, Million Units; Revenue, USD Billion, 2018 - 2030)
Point Of Use Water Treatment Systems Device Outlook (Volume, Million Units; Revenue, USD Billion, 2018 - 2030)
Point Of Use Water Treatment Systems Regional Outlook (Volume, Million Units; Revenue, USD Billion, 2018 - 2030)
List of Key Players of Point Of Use Water Treatment Systems Market
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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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SOURCE Grand View Research, Inc.
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