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Water Softening Systems market in 2018 is US$ 8,923.7 Mn and the market is expected to expand at a CAGR of 7.3%

02-22-2019 01:58 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Water Softening Systems Market

Water Softening Systems Market

Future Market Insight has rolled out a new market research report on, “Water Softening Systems Market: Global Industry Analysis 2013-2017 and Forecast, 2018-2028,” which examines the Water Softening Systems market and offers critical insights for the next ten years. Based on the findings specified in the report, the market is expected to witness increasing demand and applications in several industries. The estimated value of the global Water Softening Systems market in 2018 is US$ 8,923.7 Mn and the market is expected to expand at a CAGR of 7.3% and reach US$ 18,089.6 Mn by 2028 and is projected to create incremental $ opportunity worth US$ 9,165.9 Mn over the forecast period.   

Global Water Softening Systems Market Dynamics        

Increasing number of households and growing disposal income are anticipated to drive the global water softening systems market over the forecast period. For instance, the number of households in the U.S. alone reached nearly 126 Million by the end of 2017. Moreover, increasing disposable income, especially in developing regions across the globe, is another factor projected to drive the demand for water softening systems during the forecast period. Growing supportive government policies are also projected to enrich the global water softening systems market over the forecast period. However, there are some disadvantages associated with the use of Water Softening Systems which can hinder the growth of the global market in the upcoming years. Some such potential disadvantages are potential health risks for people on low sodium diets and elimination of calcium and magnesium ion from diet, which directly affects human health.  

Global Water Softening Systems Market Forecast

By application, in terms of value, the residential segment is expected to hold the largest share in the water softening systems market owing to significant installation of water softening systems for household purposes. In brief, residential segment is expected to dominate in the water softening systems market and will capturing a market share of nearly 43.9%, in terms of value, by 2018 end. Residential segment is further categorized into salt based water softening systems and salt free water softening systems. The salt based water softening systems segment is in declining phase as salt based water softening systems produce excessive sodium ion, which negatively affects fertility of fields. This is the primary reason why the U.S. government has banned salt based water softening systems. The U.S. government can impose a fine of US$ 2000 if it finds a salt based water softening system in a house. The application segment is expected to grow with a collective CAGR of 7.3% in the global water softening systems market over the forecast period.

On the basis of operation, electric segment holds the dominating share in the global water softening systems market owing to rising automation in the water treatment equipment. In terms of value, the market size of non-electric water softening systems segment is estimated to be pegged at US$ 1,852.4 Mn by end of 2018. Growing with a CAGR of 5.7%, the non-electric water softening systems segment is projected to account for ~ 15.0% share in the overall water softening systems market’s absolute $ opportunity over the forecast period.

On the basis of design, twin tube segment is expected to dominate in the water softening systems market with a value share of nearly 56.1% by the end of 2018. Twin cylinder water softening systems provide better soft water flow or supply as compared to mono cylinder water softening systems. Furthermore, twin cylinder water softening systems are costlier than mono cylinder water softening systems. However, multi cylinder water softening systems is anticipated to account for half of the value share of mono cylinder water softening systems during the forecast period.

On the basis of region, North America is projected to dominate in the global water softening systems throughout the forecast period. Western Europe is followed by North America in the global water softening systems market and is projected to grow with a CAGR of 4.1% over the forecast period. In North America, the U.S. accounts for approximately 89% of hard water and Canada accounts for approximately 80% of hard water. In terms of CAGR, Middle East & Africa region is anticipated to grow with an addressable CAGR of 11.7% in the global water softening systems market, which is higher compared to other regions’ CAGR. Moreover, Japan is projected to grow with minor value share in the global water softening systems market over the forecast period.

Get Sample Copy of Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-881

Global Water Softening Systems Market Competitive Landscape

Some of the prominent players involved in the manufacturing of Water Softening Systems and included in this study on water softening systems are EcoWater Systems LLC, Culligan International Company, Kinetico Incorporated, Hydroflux, Envicare Technologies Pvt. Ltd., Wychwood Water Systems Ltd., Harvey Water Softeners Ltd., Pelican Water Systems, BWT AG, Marlo Incorporated, Monarch Water Ltd., Qingdao Haier Co., Ltd., Atlas Filtri, Watts Water Technologies Inc., and dwater Limited.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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