CHICAGO, Feb. 5, 2019
CHICAGO, Feb. 5, 2019 /PRNewswire/ -- According to the new research report "Point-of-Use Water Treatment Systems Market by Device (Tabletop, Faucet-mounted, Countertop, Under-the-sink) Technology (RO, Ultrafiltration, Distillation, Disinfection, Filtration), Application (Residential, Non-residential), & Region - Forecast to 2023", published by MarketsandMarkets™, the Point-of-Use Water Treatment Systems Market is projected to grow from USD 19.9 billion in 2018 to USD 32.7 billion by 2023, at a CAGR of 10.41%. Factors such as increasing water contamination, growing awareness about the benefits of clean drinking water, and increasing construction activities drive the Point-of-Use Water Treatment Systems Market.
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The faucet-mounted segment is projected to dominate the global Point-of-Use Water Treatment Systems Market through 2023
The faucet-mounted segment acquired the largest share in the Point-of-Use Water Treatment Systems Market in 2018, in terms of value, and is projected to grow at the second-highest CAGR during the forecast period, due to relatively cheaper costs and ease of installation. These devices allow users to switch between unfiltered and filtered water. Tabletop pitchers are projected to register the highest CAGR during the forecast period as these devices are inexpensive and readily available.
The reverse osmosis segment is projected to grow at the highest CAGR in the Point-of-Use Water Treatment Systems Market during the forecast period
The reverse osmosis segment is projected to grow at the highest CAGR in the Point-of-Use Water Treatment Systems Market from 2018 to 2023. This technology is also projected to have the largest share in the Point-of-Use Water Treatment Systems Market, in terms of value, during the forecast period. A good quality RO system is capable of removing up to 99% of dissolved contaminants found in the feed water. These systems offer numerous benefits, including improvement in the taste and color of water, odor elimination, simple maintenance, and removal of contaminations.
The Asia Pacific is projected to hold the largest share in the Point-of-Use Water Treatment Systems Market during the forecast period
The Asia Pacific is the most attractive market for point-of-use water treatment systems due to the rapid socio-economic development in the region. The growth of this region is supplemented by the growing concerns related to contaminated water and the rise in awareness about various water filtration technologies in developing economies such as India and China.
Key players operating in the Point-of-Use Water Treatment Systems Market include Honeywell International (US), Pentair (UK), Panasonic Corporation (Japan), Unilever (UK), LG Electronics (South Korea), Coway (South Korea), BWT (Austria), Toray Industries (Japan), Brita (Germany), Alticor (US), 3M Company (US), GE Appliances (US), DowDuPont (US), Tata Chemicals (India), KENT RO (India), Eureka Forbes (India), Whirlpool Corporation (US), Culligan International (US), Instapure Brands (US), Helen of Troy Limited (US), A.O. Smith Corporation (US), Kinetico Incorporated (US), EcoWater Systems (US), and WestAqua-Distribution OU (Russia).These players have adopted various growth strategies to expand their global presence and increase their market share.
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