July 07, 2022 02:08 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, July 07, 2022 (GLOBE NEWSWIRE) -- The global point of use water treatment systems market size was USD 19.58 billion in 2021. The market is projected to grow from USD 20.94 billion in 2022 to USD 36.54 billion by 2029 at a CAGR of 8.3% during the 2022-2029 period. Fortune Business Insights™ publishes this information in a report titled, "Point of Use Water Treatment Systems Market, 2022-2029". As per the report, the market is expected to grow during the projected period due to increasing awareness regarding water-borne diseases.
List of Key Players Profiled in the Report:
Get a Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/point-of-use-water-treatment-systems-market-102814
Countertop Filters to Lead Market Due to High Demand
By product type, the market is divided into under the counter filters, countertop filters, pitcher filters, faucet-mounted filters, and others. Countertop filters are expected to lead the global market due to their increasing plumbing sector demand.
RO Filter Segment to Dominate Market Due to its Excellent Features
Based on category, the market is classified into RO filters, UV filters, gravity filters, and others. RO filters segment is anticipated to dominate the market due to its excellent features and feasibility.
Residential Segment to Be the Fastest-Growing Application
On the basis of application, the market is bifurcated into residential and light commercial. The residential segment holds the highest market share due to increasing adoption of these point of use water treatment systems in residential projects.
Geographically, the market share is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/point-of-use-water-treatment-systems-market-102814
The research report covers insightful data regarding recent developments and trends in the industry. Drivers and restraints affecting the market growth during the forecast are highlighted further in this report. Also, the impact of COVID-19 pandemic on market expansion is mentioned along with recent business development strategies adopted by the leading players. A list of key market players is given with regional insights on segmented market areas.
Rising Adoption of Smart Water Treatment Systems to Augment Growth
The market is expected to grow significantly during the forecast period due to increasing awareness regarding water-borne diseases. The rising demand for smart water treatment systems is anticipated to drive the market in the coming years. Also, various environmental campaigns conducted by governments and social workers are projected to bolster the global point of use water treatment systems market growth.
However, filters' high production and maintenance costs may hamper the market growth during the projected period.
Asia Pacific Holds Highest Market Share Due to Rapid Urbanization
Asia Pacific dominates the global point of use water treatment systems market share due to rapid urbanization and growth opportunities in the region. The regional market stood at USD 7.71 billion in 2021.
Europe is the second-largest contributor to the global market. The regional market growth is attributed to the increasing adoption of water treatment systems in the household sector. Furthermore, the rising adoption of recent technologies is expected to fuel the regional market growth.
New Product Launch Allow Companies to Enhance their Product Portfolio
The leading market players focus on forming strategic alliances and partnerships with supporting organizations. Also, the companies adopt recent technologies to introduce new product ranges and enhance their product portfolio.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/point-of-use-water-treatment-systems-market-102814
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/point-of-use-water-treatment-systems-market-102814
Liquid Waste Management Market Size, Share & Regional Forecast, 2019-2026
Water Treatment Chemicals Market Size, Share & and Regional Forecast, 2022-2029
Water Purifier Market Size, Share & and Regional Forecast, 2022-2029
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –