The population in North America is extremely concerned about their health and demand safe drinking water, even when compared to other developed economies such as Europe and Japan. North American governments supply relatively clean drinking water by way of public water utilities.
Valley Cottage, NY -- (SBWIRE) -- 03/19/2018 -- Water is essential to the survival of all living organisms and it is simultaneously one of the scarcest resources. Large-scale urbanization, rampant use of pesticides, and natural pollutants present in some water bodies have contaminated these sources of life, rendering them unfit for human consumption. Future Market Insights in its report titled 'Residential Water Treatment Devices Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017–2027)' has comprehensively analysed the global residential water treatment devices market that is expected to record a robust CAGR of 9% from 2017 to 2027 and cross a value of US$ 56 billion by that time.
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Region – Governments Unable to Provide Safe Drinking to all Citizens in APEJ
The APEJ region now accounts for 3/5th of the global population and is growing rapidly. A UNICEF report estimates that the growth rate far there outpaces that of the number of people gaining access to safe drinking water. The 2011 Census of India states that 14% of households in the country cannot access safe drinking water. In addition to this, large scale industrialization and excessive pesticide use deteriorates the quality of natural water bodies in the APEJ region. Many water bodies that provide water for millions of local inhabitants have dangerously high levels of toxins. In China, more than 80% of water bodies including shallow groundwater has been affected by industrial waste and agricultural chemicals that seep into the nearest water body from the soil and waste injection. In Indonesia, more than 75% of rivers are polluted with high levels of fluoride and arsenic and this directly leads to the deaths of approx. 50,000 people annually.
Region – Increasing Cases of Waterborne Diseases in North America
The U.S. has one of the safest drinking water systems on the globe yet there are several cases of gastrointestinal illnesses reported in the country every year because of the inadequacy of public water systems that excludes consumption from non-public systems. Waterborne contaminants can lead to numerous health problems such as vomiting, diarrhoea, breathing difficulty, eye, ear, and skin infections, and pneumonia. Diseases such as giardiasis, cryptosporidiosis, otitis externa caused nearly 40,000 hospitalizations and cost just under a billion dollars every year in the country. The bacteria Clostridium difficile alone causes almost 8000 deaths annually. These deaths can be avoided with the help of devices available in the North America residential water treatment devices market that is projected to be worth roughly US$ 7.8 billion in 2027 with the US comprising the bulk of this.
Equipment Type – Reverse Osmosis Most Popular Equipment Type
The reverse osmosis segment has a market share of almost 60% in the residential water treatment devices market in 2017 and is anticipated to rise to 63% by the end of the forecast period. Reverse osmosis is projected to witness the highest CAGR of 9.7% by value from 2017-2027, making it imperative for key stakeholders in the residential water treatment devices market to target this equipment type. An absolute dollar opportunity of slightly under a billion dollars in 2017 over 2016 is waiting to be tapped in the reverse osmosis segment of the residential water treatment devices market.
Competition Dashboard in the Residential Water Treatment Devices Market
The companies profiled in the residential water treatment devices market report are Amway Corporation, The 3M Company, Haier Group Corporation, Robert Bosch GmbH, Whirlpool Corporation, BRITA GmbH, Culligan International Company, Eureka Forbes, Kent RO Systems Ltd., Panasonic Corp ADR, LG Electronics Inc.,Hindustan Unilever Ltd., Mitsubishi Rayon Cleansui Co. Ltd., P.T. Holland, A.O. Smith Corporation, Mazuma Thailand Co. Ltd., Ceramica Stefani S.A., Lorenzetti S.A., PSA Industrias Pugliese S. A.,Europa Group, and Indústria Brasileira de Bebedouros Ltda. S.A.
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Key Insights in the Residential Water Treatment Devices Market
The residential water treatment devices market has been characterized by the lack of new technologies and a sluggishness on the part of key stakeholders. There has been no major R&D investment and product differentiation is absent. Thus, price becomes the deciding factor for buyers and any company that can reduce the initial or maintenance cost substantially stands to reap significant benefits in the residential water treatment devices market. Companies should try to introduce smart new products that offer a multitude of features such as heating or chilling water, adding flavours or purifying it at multiple stages.