Global Point-of-Use Water Treatment Systems Market Size Booming to Cross USD 32.6 Billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global point-of-use water treatment systems market size at USD 17.57 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global point-of-use water treatment systems market size is projected to grow at an impressive CAGR of 9.35% reaching a value of USD 32.63 billion by 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global point-of-use water treatment systems market size at USD 17.57 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global point-of-use water treatment systems market size is projected to grow at an impressive CAGR of 9.35% reaching a value of USD 32.63 billion by 2029. The prevalence of water-borne illnesses and growing levels of water pollution are two major growth reasons for the global point-of-use water treatment systems market. The need for inexpensive water treatment systems is being influenced by the increase in the demand for clean, safe drinking water, particularly from the residential segment. As a result, point-of-use water treatment systems are rapidly gaining popularity in emerging nations, driving the growth of the industry as a whole.
Global Point-of-Use Water Treatment Systems Market – Overview
A Point of Use (PoU) device is a water treatment system that is mounted on one faucet or spigot and used to filter out impurities from the water that comes out of that one tap. PoU equipment can be mounted beneath the sink, attached to the faucet, or placed on the counter. Because the solution is directly connected to the water input and frequently includes a tank as well as a dedicated faucet, it makes everyday usage more convenient. Frequently, the system uses a multi-stage purification procedure that includes reverse osmosis, carbon (activated), and sediment filters.
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Global Point-of-Use Water Treatment Systems Market – By Application
Based on application, the global point-of-use water treatment systems market is segmented into residential and non-residential. The residential segment holds a higher share in the global point-of-use water treatment systems market. The point-of-use water treatment systems are gaining huge traction among households for making potable drinking water for domestic use. Meanwhile, the non-residential segment is expected to grow at a higher CAGR as the demand for these water treatment technologies from commercial facilities including hotels and restaurants, shopping centers, offices, and others.
Impact of COVID-19 on Global Point-of-Use Water Treatment Systems Market
The sudden COVID-19 pandemic outbreak hindered the expansion of the global market for point-of-use water treatment devices. The lockdown was implemented by the governments of several nations, which hampered production processes and disrupted the supply chain, reducing demand and supply for these systems. The pandemic also had an impact on middle-class customers' purchasing power, which limited their capacity to pay for the point-of-use water treatment systems' setup, equipment, and maintenance expenses. However, the market is anticipated to gain traction in the post-pandemic period as health consciousness spikes among consumers.
Competitive Landscape
Major players operating in the global point-of-use water treatment systems market include 3M, Koninklijke Philips N.V., Pentair, Panasonic Holdings Corporation, Unilever, LG Electronics, EcoWater Systems LLC, A.O. Smith, Culligan, and Amway Corp. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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