The global home water filtration systems market was US$ 9.37 billion in 2021. The global home water filtration systems market is forecast to grow to US$ 12.73 billion by 2030 by growing at a compound annual growth rate (CAGR) of 14.4% during the forecast period from 2022 to 2030.
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Lack of access to safe water majorly in urban areas will drive the global home water filtration systems market forward. In addition, growing urbanization and industrialization will escalate the growth of the home water filtration systems market in the coming years. Industrial waste contaminates the water. Moreover, the unavailability of soft water will upsurge the demand for efficient home water filtration systems during the study period.
Growing public awareness about the benefits of home water filtration systems will contribute to the growth of the global home water filtration systems market.
The rising prevalence of water-borne diseases will upsurge the demand for home water filtration systems during the study period. Contaminated water and poor sanitation can cause various diseases, such as cholera, hepatitis A, typhoid dysentery, polio, diarrhea, etc. Thus, the rising prevalence of these diseases will upsurge the demand for home water filtration systems during the study period.
The surging number of technological advancements and research activities will escalate the growth of the home water filtration system market. For instance, Engineers at MIT unveiled a new approach for eliminating lead or other heavy metal contaminants from water in September 2021.
The Asia-Pacific home water filtration system market is forecast to grow at the fastest rate. It is due to the poor sewage disposal mechanisms and low and ineffective public water treatment plants in various economies. Further, the rising prevalence of water-borne diseases such as typhoid will fuel the growth of the Asia-Pacific home water filtration system market.
Followed by Asia-Pacific, North America is forecast to register a significant growth rate. It is due to the unavailability of safe drinking water.
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The onset of the COVID-19 pandemic created disruptions in various industries. Due to the pandemic, the demand for safe drinking water increased abruptly. However, the manufacturing units observed numerous challenges, such as shortage of raw material, delays in R&D, and import-export challenges. Thus, it hampered the growth of the home water filtration system industry. However, the wake of the pandemic raised awareness about hygiene and health. As a result, the demand for healthy drinking water upsurged, which has been beneficial for the overall market.
The global home water filtration systems market segmentation focuses on Product, Distribution Channel, End-User, and Region.
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•This report provides comprehensive information on factors expected to influence the market growth and market share in the future. •The report offers the current state of the market and future prospects for various geographical regions. •This report provides both qualitative and quantitative information about the competitive landscape of the market.
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