November 15, 2021 05:04 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, November 15, 2021 (GLOBE NEWSWIRE) - The size of the U.S. water purifier market in 2020 is USD 5.59 billion. The market is expected to grow from 5.85 billion U.S. dollars in 2021 to 8.61 billion U.S. dollars in 2028, with a compound annual growth rate of 5.7% during 2021-2028. This information is provided by Fortune Business Insights™ in its report entitled "US Water Purifier Market, 2021-2028".
According to our analysts, due to the advanced spending capabilities and vigilant agenda implemented by organizations such as the World Health Organization and the U.S. Environmental Protection Agency, the water purification system has been controlled nationwide. The United States mainly obtains water from major lakes or rivers. However, after the manufacturing uprising, the pollution of these water sources has increased sharply, which is responsible for the use of water treatment systems to protect the health of residents. The water purifier uses filter media to remove pollutants in the raw water and convert it into better water, which can be safely used for overall and specific determinations.
Customer awareness considered by leading companies during COVID-19 to support development
Although the entire United States did not implement strict lockdown regulations during the pandemic, several states equally restricted the movement of people and goods. Since water purification is a labor-induced industry, the pandemic has caused severe supply chain disruptions. As various companies import water filters and water purifiers from Asian countries, all parts of the country believe that there is a shortage of materials, coupled with a shortage of labor due to health problems. This caused the region to face an income crisis at the height of the pandemic, which disrupted their potential growth.
During this unfortunate disease outbreak, several companies adopted methods to promote the benefits of uncontaminated water, thereby increasing customers' awareness of the profits of their products. This is expected to promote market growth for this product during the pandemic and in the long term.
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The report provides a complete assessment of the US water purifier market, as well as current trends and expectations of upcoming investment results. The report also reveals a detailed analysis of any upcoming prospects, risks, struggles or driving factors. Step by step, carry out in-depth regional inspections. The impact of COVID-19 is discussed in the report to help shareholders and business professionals better understand these issues. Key companies in the market have been recognized, and the report introduces their methods to promote market growth.
According to the product type, the global market is divided into point-of-use filters and point-of-entry filters. According to the application, the market is divided into residential and commercial. According to the distribution channels, the market is divided into offline stores and online stores.
According to the category, the market is divided into RO filters, UV filters, gravity filters, etc. All of these categories operate in offline and online distribution channels in the United States. Among these categories, RO filters account for the largest share of market revenue in 2020.
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The arrival of smart water purifiers to maintain market growth
The display of smart water purifiers has begun to spread in the U.S. water purifier market based on new technologies. Smart purifiers are based on technologies such as artificial intelligence (AI) and the Internet of Things (IoT). These purifiers are effortless in operation and are created with a multi-stage purification method that can be adjusted by a single touch and voice response according to the needs of consumers.
On the other hand, the use of smart sensors has been cyclically used throughout the water purification system to check the type of water and display quantities such as TDS, temperature and oxygen content on the monitor for consumers to classify the water level. These radars also send notifications to consumers and decontamination service personnel to maintain the filters on a regular basis. Therefore, the rapid emergence of these smart technologies is expected to promote market growth during the forecast period.
Major players aim at new product presentations to maintain their position in the market
The key players operating in the US market obviously used capital to establish a new water purification system manufacturing unit. In order to gain a competitive advantage, most major water purification system manufacturers are designing innovative products that combine modern water purification and Internet of Things technologies. Well-known companies have also accepted merger and acquisition strategies to cover their product portfolio and regional influence.
July 2019: Pentair PLC signed a final arrangement to purchase the entire water treatment system supplier Pelican Water Systems. The purchase is worth 120 million US dollars in cash. With this achievement, Pentair PLC is working to expand its geographic orbit and its basic water treatment products in housing applications.
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