The residential water treatment devices market is expected to be valued at USD 14,220.6 million in 2023 and is forecasted to grow to USD 23,721 million by 2033. Throughout the forecast period, the market is experiencing a Compound Annual Growth Rate (CAGR) of 5.2%.
- Health Concerns: Rising consumer awareness about healthy lifestyles is driving the demand for filtered water and improved water quality. Concerns about waterborne diseases due to contaminants are leading to increased adoption of residential water treatment devices.
- Growing Technical Advancements: Technological advancements are playing a significant role in the development of effective and efficient water treatment solutions. The proliferation of water treatment apps is addressing issues related to water contaminants with ease.
- Rapid Urbanization: Urbanization is driving the demand for residential water treatment devices to ensure access to clean drinking water for residents of urban areas, including societies, buildings, and houses.
- Consumer Preferences: Consumers are increasingly opting for environmentally friendly water testing devices that improve water quality without harsh chemicals. These devices utilize purification methods such as ultraviolet sterilization and reverse osmosis.
- Water Recycling: There is a growing focus on water conservation, leading to increased demand for water purification devices for domestic use, especially for recycling water.
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The key companies are installing water purification treatment devices at home easily. These advanced technical devices remove contaminants and ultraviolet light and make water safe to consume. Due to the rising concern about water quality, adopting these devices is expanding the market. The government is also focused on providing safe, clean, and pure water by implementing various global regulations.
Growing Internet of Things and Advanced Technologies Fuel the Market Growth
The growing innovation in the market has made using highly advanced devices easier. The growing technologies in residential water treatment devices include robotics, wireless connectivity, and automatic monitoring. These technologies are developing more smart and accurate devices that enhance work quality and fuel market growth.
The internet connectivity, Bluetooth sensor, and real-time monitoring alert consumers to detect issues and other related things. These water purification devices help to resolve water problems and reduce chlorine water, preventing health issues. The rising contaminated water supplies in colonies, apartments, and houses are increasing the adoption of residential water treatment devices.
Key Takeaways:
- The residential water treatment devices market is securing a CAGR of 5.2% with a valuation of US$ 23,721.0 million by 2033.
- Historically, the market was valued at US$ 11,794.2 million in 2018.
- The United States is leading the global market by securing a maximum share of 18% during the forecast period.
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Key Player’s Strategies Bring Lucrative Opportunities in the Market
The key players play a vital role in the global market by adopting several marketing strategies to bring lucrative opportunities. These strategies in the residential water treatment devices market include:
- Innovation: Key players innovating their products a stay ahead of their competitors in the market. They focus on consumers’ needs and implement their product accordingly with a better version.
- Increased Investment: Key marketers invest a lot in research and development to develop advanced products with better technologies. These players are providing high-quality residential water treatment devices to attract consumers.
- Expand Reach: The key players are trying to reach their relevant audience to increase sales. They are increasing their brand awareness through social media, content strategies, and other online platforms.
- Focus on Cost Optimization: The key players are providing their consumers with better quality products at affordable prices. It can increase profitability with the rising demand for residential water treatment devices.
Recent Developments in the Global Market are:
- In 2021, Pentair plc launched its Everpure H-300-NXT product for water purification. It helps to reduce harmful bacteria, including mercury and contaminated water.
- In 2021, Culligan International Company announced its new launch application to monitor harmful water through smartphones.
- In 2021, 3M announced its new product Aqua-Pure AP-DW80/90 to improve water quality for drinking and reduce contaminants, including cysts.
- In 2021, Honeywell International Inc launched a freeze Detector to identify leakages in the water purifying the system.
- In 2021, Whirlpool Corporation announced the newly launched EveryDrop for water purification.
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Residential Water Treatment Devices Market by Category
By Product:
- Distillation Units
- Water Filters
Price Range:
- Economy
- Mid-Range
- Premium
Installation Type:
- Point of Use
- Point of Entry
Sales Channel:
- Hypermarkets/Supermarket
- Convenience Stores
- Specialty Stores
Region:
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East Africa
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