SAN ANTONIO, June 20, 2017 (GLOBE NEWSWIRE) — A new analysis by Verify Markets shows the global residential water treatment market was valued over valued over $12.5 billion in 2016 (https://www.verifymarkets.com/products/2017-global-residential-water-treatment-market-research).
The global residential water treatment market is becoming increasingly competitive and fragmented. Both large and local companies compete in almost every market, leading to price wars. There is confusion among consumers since too many brands are offering different technologies and price points. Malaysia and South Korea are primarily rental markets.
In 2016, some of the largest markets were the United States, China, India and South Korea. China is the fastest growing market and expected to record a CAGR of 18.3 percent, followed by India at 13.0 percent. Poor water quality, rising disposable incomes, and increasing awareness are expected to drive these two fast-growing markets.
“Online sales are gaining prominence in China. E-commerce is becoming a substantial channel for home appliance distribution, and home appliance manufacturers are working closely with Internet companies. Reverse osmosis is the predominant technology used in the point-of-use systems in both India and China. Most companies in India advertise and market their products extensively. Celebrity endorsements are extremely common. The extensive marketing initiatives adopted by companies have helped create huge awareness about the category among consumers,” notes analyst and Global Vice President of Verify Markets, Shilpa Tiku.
The study is extremely detailed and provides data at a country level. The segments included in the study are point-of-entry systems, point-of-use systems and pitchers. Data for replacement filters is provided separately. Some of the key players in the market include Culligan International Company, Ecowater Systems LLC, The 3M Company, Midea Group, Pentair plc, Brita GmbH, Unilever, Panasonic Corporation, and others. The base year for the study is 2016 and forecasts are provided to 2023.
A complete analysis of select markets within the global residential water treatment market can be obtained at www.verifymarkets.com. Regional and country-specific studies are also available. Follow us for more updates on Twitter @verify_markets and LinkedIn.
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