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Home Water Filtration Unit Market Value to be $5.8 Billion Forecast from 2022-2031
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The CXOs of major corporations predict that the market for home water filtration units will grow significantly in the coming years. The popularity of home water filtration units has been increasing in urban cities owing to several factors including a rise in health concerns, advancement in water filtration technologies, and an increase in water contamination due to industrial waste. People are increasingly requesting water filtration systems due to the rise in consumer standards and an increase in purchasing power, particularly in developing nations in the Asia-Pacific region and the Middle East. This is creating expansion chances for the industry.
As a result, the market for water filtration systems is expected to experience growth during the projected period due to rise in demand for clean drinking water and filtered water for home uses. The high cost of installing water filters and the ongoing expense of filters will be a major obstacle to the expansion of the market for home water filtration units during the course of the forecast period. The filters used for water filtration must be replaced on schedule to maintain the quality of water. The criteria for replacing individual filters vary depending on the product type and filtration system technology.
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Based on sales channel, the direct sales segment accounted for the highest share in 2021, holding nearly three-fourths of the global home water filtration unit market, and is expected to continue its leadership status during the forecast period. However, the indirect sales segment is estimated to grow at the highest CAGR of 5.3% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global home water filtration unit market share, and is projected to maintain its dominant share in
terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 6.6% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of the global home water filtration unit market analyzed in the research include SUEZ Water Technologies & Solutions, Tata Chemicals Limited, Amway Corporation, A. O. Smith Corporation, Eureka Forbes Limited, Halo Source Inc., KENT RO Systems Ltd., LG Electronics, Panasonic Corporation, Brita GmbH.
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Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the home water filtration unit market analysis from 2021 to 2031 to identify the prevailing home water filtration unit market opportunities.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the home water filtration unit market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global home water filtration unit market trends, key players, market segments, application areas, and market growth strategies.
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