Published on November 9th, 2021 📆 | 7030 Views ⚑0
Innovation in the Water Technology is Transforming the End-Users Lifestyle
CHICAGO, Nov. 9, 2021 /PRNewswire/ — Did you know water dispensers for homes are considered as an effective source for purifying tap water, especially among residential end-users who live healthy lives? In the recent years, affordable countertop versions are expected to be highly preferred due to their compact size and design across the water dispenser market. Vendors in the ecommerce platform are actively developing new techniques to boost their sales in the global water technology market. As consumers are becoming aware of the water-borne diseases, players are prioritizing multi-stage filtration with RO and UV as major techniques which in turn, can be profitable as they are proven to be more effective than other methods of water filtration. Observing these rapid and drastic changes in demand and supply patterns are encouraging the industry analysts at Arizton to publish exhaustive and data-driven insights on these recent trends in the consumer goods retail tech industry. If you want to grow and gain profit in your business, check out our wide range of consumer goods retail tech related reports today and get customised solutions as per business requirement!
1. Home Water Filtration Market – Global Outlook and Forecast 2021-2026
Home water filtration market size to reach USD 7.13 billion by 2026, growing at a CAGR of 8.49% during the period 2021-2026. With low penetration of smart water filters, IoT-enabled water filters are expected to be the next big opportunity for established players in the home water filtration market. Arizton estimates that global players would grow inorganically by acquiring regional or local players in future years to gain more significance in the global market. Offline sales and high customer-friendly approaches are encouraging in the booming markets of APAC and Latin America, where the potential is high with growing consciousness for potable water and increasing levels of drinking water contamination. Brands such as Brita and LifeStraw, which highly prioritizes pitchers, can extend their line of products to utilize the rising opportunities in under-the-sink, faucet, and shower filter segments in the coming years.
- Germany accounted for the largest market for home water filters in the region, followed by the UK.
- Culligan is a pioneer in the smart filter segment though its ClearLink Connect application that provides personalized insights about the home’s water in real time.
- Established brands such as Aquasana leverages in the market through its wide portfolio of water filters under whole house, shower, countertop, and under-the-sink ranges that helps in enhancing revenue opportunities in the market.
Get more insights now! https://www.arizton.com/market-reports/home-water-filtration-market-size
2. Ultrapure Water Market – Global Outlook & Forecast 2021-2026
The ultrapure water market size is expected to reach USD 11.21 billion in 2026, growing at a CAGR of 7.78%. The arrival of 5G brings several new business opportunities and added value services due to its low latency and ability to connect millions of devices in a small area. The adaptation of 5G in water treatment technologies can benefit the management of water resources. Remote access and connectivity features are expected to become important trends in the ultrapure water market. The introduction of the 5G mobile network is expected to surge the demand for semiconductor components. This is expected to have a positive impact on the demand for ultrapure water in the microelectronics industry. APAC is the largest market for ultrapure water and accounted for 60.05% of the global market. The region is expected to dominate in terms of revenue during the forecast period. The growth is supported by the demand for ultrapure water in the semiconductor industry, especially in countries such as China, South Korea, and India.
- The adoption rate of ultrapure water products in China and countries in North America and Europe has been impressive since their launch. The competition among companies is intensifying, which will lead to the introduction of many innovative and advanced solutions in the market in the future.
- Increasing installation of coal-fired power plants in Middle East & Africa is expected to increase the demand for ultrapure water, thereby, driving the ultrapure water market in the region.
- The implementation of 5G technology will create several opportunities for industries, especially in the semiconductor industry. Further advances in the semiconductor industry will boost the demand for ultrapure water systems during the forecast period.
Get more insights now! https://www.arizton.com/market-reports/ultrapure-water-market-size
3. Water Dispenser Market – Global Outlook & Forecast 2021-2026
Water dispenser market size is estimated to reach revenue of USD 1185.94 million by 2026, growing at a CAGR of 7.35% during the period 2021-2026. Players are recommended to value face-to-face communication with clients in emerging economies for a better experience as they perceive products such as free-standing dispensers and multi-functional taps as an expensive investment in the water dispenser market. Blupura serves as a frontrunner in featuring environmental-friendly details in dispensers, where utilizing natural refrigerants in water coolers is a major differentiator in the industry. Players such as Avalon have partnered with global companies such as Honeywell, Coca-Cola, Target, Lexus, and Pepsi to surge their growth in the global water dispenser market. With the implementation of infrared sensor dispensing, to reduce direct human contact was booming during the outbreak of COVID-19 pandemic. For instance, the Quench Q8 water dispenser operates on touchless sensor-activated dispensing to deliver instant hot and cold water.
- The residential market accounted for a 20.53% share in 2020 in terms of unit shipments and is expected to pose an absolute growth of 61% in terms of revenue in the water dispenser market in the upcoming years.
- Automation and digital technologies can be adopted to reduce labor costs and traceability. Enabling IoT can be considered as a gamechanger in the market and the future of competition.
- The rising number of on-the-go consumers, the trend of co-working spaces, and a prominent hotel pipeline construction in China, Japan, and Singapore are expected to drive the demand for new installations of water dispenser market during the forecast period.
Get more insights now! https://www.arizton.com/market-reports/water-dispenser-market-size-analysis
4. U.S. Water Heater Market – Industry Outlook & Forecast 2021-2026
U.S. water heater market size is expected to reach USD 4,167.68 million by 2026, growing at a CAGR of 4.89% during the forecast period. The ongoing mergers and acquisitions and other collaborative partnerships by vendors in the US water heater market will enable them to expand their product portfolio, upgrade existing product lines, and enter new markets. The smart city initiative by the US government and the focus on smart technologies to promote a better standard of living provides enormous growth potential to smart water heater vendors in the country. The adoption rate of water heaters among end users in the US has been impressive and the vendors are emphasizing more on creating innovation in the US water heater market. Texas, Utah, Washington, and Colorado are some of the fast-growing states in the country. Most of these states have a high median disposable income, with personal income growing at the rate of nearly 5%–8%. Thus, all these factors will accelerate the demand for water heaters during the forecast period.
- Instant water heaters are expected to witness the fastest growth rate with a CAGR of 5.93% due to the increasing demand for energy efficiency.
- For smaller companies in the US water heater market, partnership with other vendors with high demand is anticipated to be a benefitting opportunity for vendors.
- In 2020, AO Smith invested USD 80.7 million on R&D initiatives to remain competitive in the marketplace. Moreover, leak detection systems, temperature control, and IoT support in water heaters are some key factors that would drive the demand for water heaters and contribute to a competitive marketplace.
Get more insights now! https://www.arizton.com/market-reports/us-water-heater-market
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