India, Asia-Pac seen pushing up global point-of-use water treatment systems market
Increasing levels of water pollution as well as the outbreak of Covid-19 is expected to push strong growth in the global point of use (PoU) water treatment systems market.
The Asia-Pacific region, more specifically, China, Japan, South Korea, India and Australia are seen pushing sales of water treatment systems up in the next seven year.
The overall market was worth $17.30 billion in 2019 and it is anticipated to rise at a CAGR of 8.1 per cent to reach $32.20 billion by 2027, a new research report has said.
While the Covid-19 pandemic has pushed upward sales of water treatment systems across the world, in most of the developing countries, rise in prevalence of water-borne diseases and growing importance of clean drinking water are the major growth drivers.
In addition to this, the implementation of advanced technology in terms of water purification systems primarily focuses on removing harmful contaminants, and complete water purification for home and light commercial buildings, thereby adding impetus to the market.
However, on the flip side, water purification systems such as ultra-violet filters and reverse osmosis filters are expensive and the maintenance costs of such systems are also high. This poses a major challenge to the market.
Nevertheless, the introduction of the Internet of Things (IoT) and the advent of smart point of-use water treatment systems may create lucrative growth opportunities for the market in the coming years.
The report predicts robust growth in the North American and European markets too. In 2019, the water treatment systems market in North America earned $4.29 billion on account of the presence of large commercial manufacturers and the well-established distribution network in the region.
Besides home-grown brands like Kent RO Systems and Eureka Forbes, the Indian market has a dominant presence of Unilever, Pentair, AO Smith, Panasonic and Brita, among several others. Other major Indian players are Ion Exchange, Tata Chemicals Ltd, Hi-Tech RO Systems, Godrej Industries, Livpure Private Ltd, Essel Nasaka and Whirlpool India Ltd.
Eureka Forbes and Kent RO are the market leaders in the segment, together accounting for about 50 per cent market share. The major competing parameters in the industry include brand image, price, serviceability, average product maintenance costs and technological advancements.
The water purifier market in India is dominated by reverse osmosis (RO) water purifiers due to high TDS (total dissolved solid) level of water across the majority of the states.
Since early 2019, there have been some key developments in the Indian market, with Brita, a German water purifier company, entering it with its latest range of water purifiers called ‘MyPure Max’.
Brita has also invested an estimated $5.3 million in a new project located in India to launch its products at low prices, thereby expanding its portfolio across the Indian market.
In December 2019, market leader Kent RO Systems introduced a new water purifier with the latest zero wastewater technology.
Currently, the Indian market is fragmented on account of the presence of many players. A majority of players are engaging and investing massively on research and development of several point of-use water treatment system products with higher efficiency and at reasonable operational costs.
Several of these companies have gained a competitive edge in the market due to these initiatives.
