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Point-of-Use Water Treatment Solutions: A 2024 Global Market Perspective
Point-of-Use Water Treatment Systems Market
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According to The Business Research Company's, The point-of-use water treatment systems market size has grown rapidly in recent years. It will grow from $18.54 billion in 2023 to $20.7 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to increasing water contamination concerns, rising health consciousness, stringent regulations, urbanization and infrastructure challenges.
The point-of-use water treatment systems market size is expected to see strong growth in the next few years. It will grow to $30.17 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to global water scarcity, consumer preference for sustainability, government initiatives. Major trends in the forecast period include smart technology integration, technological advancements, smart technology integration, customization and modularity, advancements in filtration technologies, collaborations and partnerships.
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Market Drivers and Trends:
The rise in the prevalence of water-borne diseases is driving the growth of the point-of-use water treatment systems market. Waterborne diseases are diseases caused by drinking water contaminated with pathogenic microorganisms such as protozoa, viruses, bacteria, and intestinal parasites. For instance, within developing countries, 1.8 million people die every year from waterborne diseases. Of these deaths, over 90% are children under the age of five. Therefore, the increasing prevalence of water-borne diseases drives the point-of-use water treatment systems market.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Honeywell International Inc., Pentair plc, Panasonic Corporation, Eureka Forbes Limited, BWT Aktiengesellschaft, A. O. Smith Corporation, Unilever PLC, LG Electronics Inc., WaterFilters. NET, Toray Industries Inc., Kent RO Systems Ltd., Instapure Brands Inc., Helen of Troy Limited, Koninklijke Philips N. V., 3M Company, Amway Corp., Brita LP, Calgon Carbon Corporation, Coway Co. Ltd., Culligan International Company, Danaher Corporation, EcoWater Systems LLC, General Electric Company, Katadyn Group, Watts Water Technologies Inc., Aquasana Inc., Everpure LLC, Kinetico Incorporated, Enviro Water Solutions Inc., Pure & Secure LLC
Point-of-Use Water Treatment Systems Market 2024 Key Insights:
• The point-of-use water treatment systems market size is expected to see strong growth in the next few years. It will grow to $30.17 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%.
• Waterborne Diseases Drive Point-Of-Use Water Treatment Systems Market Growth
• Tech Innovation Drives Point-Of-Use Water Treatment Systems Market Growth
• Asia-Pacific was the largest region in the point-of-use water treatment systems market in 2023
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