November 15, 2021 05:04 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, Nov. 15, 2021 (GLOBE NEWSWIRE) -- The U.S. water purifier market size was USD 5.59 billion in 2020. The market is projected to grow from USD 5.85 billion in 2021 to USD 8.61 billion in 2028 at a CAGR of 5.7% during the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “U.S Water Purifier Market, 2021-2028.”
According to our analysts, water purification systems have attained grip in the nation on the back of advanced expenditure capability and alertness agendas conducted by organizations such as the World Health Organization and the U.S. EPA. The U.S. has principally obtained water from either the major lakes or rivers. But surging contamination of these sources after the manufacturing uprising has indebted the utilization of water treatment systems to protect the health of the inhabitants. Water purifier eliminates pollutants in the raw water with the assistance of filter media and transforms it into better superiority water which can be securely utilized for overall and specific determinations.
Customer Consciousness Considered by Leading Companies during COVID-19 to Bolster Development
While the whole of U.S. was not imposed stringent lockdown regulations during the pandemic, but several states had constrained the movement of people as well as goods equally. As water purification is a labour-induced industry, the pandemic occasioned in harsh supply chain interruption. As various businesses import water filters and purifiers from the Asian nations, a scarcity of material, backed with a deficiency in workforce owing to health concerns was perceived across the country. This led to this region fronting a revenue crisis during the pandemic peak period, therefore disturbing their growth latent.
Several corporations took the approach of advertising the welfares of uncontaminated water in the time of this unfortunate disease outbreak, consequently augmenting alertness among customers about the profits of their offerings. This is expected to bolster the market growth of this product during the pandemic period as well as during the long term.
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The report delivers a complete assessment of the U.S. water purifier market along with existing trends and impending expectations to institute proximate investment achievements. An exhaustive analysis of any forthcoming prospects, risks, struggles or driving factors is also revealed in the report. Step by step, in-depth regional examination is further offered. The COVID-19 influences have been discussed in the report to assist stockholders and business professionals to apprehend the concerns better. The key companies in the market are acknowledged, and their approaches to drive the market growth are conversed in the report.
On the basis of product type, the global market is segregated into point-of-use filters and point-of-entry filters. By application, the market is separated into residential and commercial. On the basis of distribution channel, the market is categorized into offline stores and online stores.
On the basis of category, the market is divided into RO filters, UV filters, Gravity filters, and others. All these categories are operated in offline and online distribution channels in the U.S. Among these categories, RO filters was accountable for the biggest revenue share in the market in the year 2020.
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The arrival of Intelligent Water Purifier to Sustain Market Growth
Presentation of smart water purification has begun novel technology-based popularity in the U.S. water purifier market. Intelligent purifiers are grounded on technologies such as artificial intelligence (AI) and the internet of things (IoT). These purifiers are effortless in terms of operating and are created with multi-stage decontamination methods which can be regulated with a single touch and voice reactions as per the need of the consumer.
On the other side, utilization of smart sensors has circulated across water purification systems to review the class of water and demonstrate amounts such as TDS, temperature and oxygen content on the monitors for the consumer to classify the water eminence. These radars also send notices to the consumer and decontaminant servicers for periodical upkeep of filters. Consequently, prompt advent of these smart technologies is estimated to enhance market growth during the forecast period.
Key Players Aiming at Novel Product Presentations to Uphold their Position in Market
Crucial players functioning in the U.S. market are noticeably capitalizing to institute novel water purification system manufacturing units. In order to attain competitive edge, majority of the principal water purification system producers are designing innovative products integrating modern water purification and internet of things technologies. Prominent companies have also accepted merger and acquisition tactics to encompass their product portfolio and regional reach.
July 2019: Pentair PLC signed a conclusive arrangement to procure entire water treatment system supplier, Pelican Water Systems. This procurement was worth USD 120 million in cash. With this attainment, Pentair PLC is directing to inflate its geographical tracks and its fundamental water treatment goods in housing applications.
List of Key Players Covered in this Market Report
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