Point-of-Use Water Treatment Systems Market | Key players operating in the market include Honeywell International, Pentair, Panasonic Corporation, Unilever, LG Electronics

According to recent market research "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", is projected to grow from USD 14.4 billion in 2018 to USD 21.9 billion by 2023, at a CAGR of 8.80%. 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 counter-top units 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 highest CAGR during the forecast period. These systems are convenient to use, have easy maintenance, and they last for a longer duration, owing to the bigger size of filters as compared to those of pitchers and faucet-mounted filters. Faucet-mounted filters segment is projected to register the second-highest CAGR during the forecast period as these devices are inexpensive and has easy installation.

The ion exchange segment is projected to grow at the highest CAGR in the point-of-use water treatment systems market from 2018 to 2023. These systems helps in reducing the hardness of water and demineralizing it. Moreover, these are also helpful in lead removal from contaminated water. The ultrafiltration systems segment is projected to grow at the second-highest CAGR during the forecast period, due to their easy maintenance, better durability, along with simple, clean, and chemical free filtration process for water purification.

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The global point-of-use water treatment systems market size is projected to grow from USD 14.4 billion in 2018 to USD 21.9 billion by 2023, at a CAGR of 8.80% during the forecast period. Increasing instances of water contamination and growing awareness about the benefits of water treatment is projected to drive the growth of the point-of-use water treatment systems market.

The point-of-use water treatment systems market is dominated by major players such as Honeywell International (US), Pentair (UK), Panasonic Corporation (Japan), Unilever (UK), LG Electronics (South Korea), Coway (South Korea), BWT (Austria), Toray Industries (Japan), Alticor (US), and BRITA Group (Germany and US). These players have adopted numerous growth strategies, such as new product launches, acquisitions, and partnerships & agreements to further expand their presence in the global point-of-use water treatment systems market. New product launches was the most dominating strategy adopted by major players from 2016 to 2018, which helped them to innovate on their offerings and broaden their customer base.

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Pentair is among the key players in the point-of-use water treatment systems market. It offers water, fluid, thermal management, and equipment protection products, services, and solutions. It has a strong foothold in Europe, and presence in North America, South America, Asia Pacific and the Middle East. The company also focuses on developing innovative products to serve its customers better. Also, due to its diversified portfolio range, the company’s revenue has consistently been increasing from 2015 to 2017. Acquisitions is the major growth strategy adopted by the company. For instance, Pentair acquired Aquion (US), for USD 160 million. Aquion offers water conditioners, water filters, drinking-water purifiers, reverse osmosis systems, ozone and ultraviolet disinfection systems, and acid neutralizers for the residential and commercial water treatment industry. This acquisition is expected to enhance the residential water treatment business of the company.

Panasonic Corporation is involved in the manufacturing and selling of electronic & electric products for consumer, industrial, and business use. It has a strong global presence in the Asia Pacific, North America, Europe, and the Middle East. The strong global presence and adoption of growth strategy such as, new product development has ensured its key position in the point-of-use water treatment systems market. In July 2018, Panasonic launched two water dispensers, namely, SDM-WD3238TG and SDM-WD3128TG, along with the bottom loading SDM-WD3438BG model. These are used in residential homes and offices, and has benefits, such as hot, cold, and normal water options; led indicators; child-safety lock (for hot water dispensing); and anti-fingerprint stainless steel cabinet doors. This product launch is expected to enhance the company’s product portfolio.

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