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Point Of Entry Water Treatment Systems Market Size, Latest Trends, Growth Status, Top Major Players And Forecast To 2033
Point Of Entry Water Treatment Systems Market Size
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According to The Business Research Company's, The point of entry water treatment systems market size has grown strongly in recent years. It will grow from $9.08 billion in 2023 to $9.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to water quality concerns, regulatory compliance, industrialization and urbanization, health awareness.
The point of entry water treatment systems market size is expected to see strong growth in the next few years. It will grow to $13.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to population growth, climate change impactss, increased water contaminants, government initiatives. Major trends in the forecast period include smart water treatment solutions, modular and scalable systems, customization for specific contaminants, point-of-use integration, collaborations and partnerships.
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Market Drivers and Trends:
An increase in the consumption of treated water is expected to propel the growth of the point of entry water treatment systems market going forward. Treated water refers to a technique that enhances the quality of water to make it suitable for a particular end-use, such as drinking, irrigation, industrial, and water recreation use. Consumption of treated water offers advantages such as pathogen and bacteria-free water, a better quality of water in terms of taste and smell, removal of toxic metals, and reduced dependency on plastic bottles. Due to the advantages of treated water, its consumption is increasing, which drives the demand for point-of-entry water treatment systems. For instance, in May 2022, according to the International Bottled Water Association, a US-based trade association, Americans consumed 15.7 billion gallons of bottled water in 2021, up 4.7% from the previous year. That means, on average, each American drank 47 gallons of bottled water in 2021, a 3.9% increase over the previous year.. Therefore, an increase in the consumption of treated water is driving the demand for the point of entry 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:
3M Company, Honeywell International Inc., General Electric Company, Best Water Technology AG, Calgon Carbon Corporation, Pentair plc, Dow Inc., Danaher Corporation, Watts Water Technologies Inc., Culligan International Company, Acuva Technologies Inc., Canature Environmental Products Co. Ltd., DuPont Inc., Aquasana Inc., EcoWater Systems LLC, Kinetico Incorporated, RainSoft Water Conditioning Company, Water-Right Inc., WaterBoss Inc., Aquion Inc., Aquatech International Corporation, Bluewater Group AB, Enpress LLC, Evoqua Water Technologies LLC, Hellenbrand Inc., Hydranautics, Kemira Oyj, Kurita Water Industries Ltd., Marlo Incorporated, Enviro Water Solutions Inc.
Point Of Entry Water Treatment Systems Market 2024 Key Insights:
• The point of entry water treatment systems market size is expected to see strong growth in the next few years. It will grow to $13.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
• Growing Treated Water Consumption Boosts Point Of Entry Water Treatment Market
• Technological Advancements Drive Point Of Entry Water Treatment Systems Market
• North America was the largest region in the point of entry water treatment systems market in 2023
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