SAN ANTONIO, Texas, Nov. 23, 2015 (GLOBE NEWSWIRE) -- An analysis by Verify Markets shows that the global residential water treatment market was valued at over $11 billion in 2014. The market is expected to see a growth rate of over 9 percent over the next 5 to 7 years (http://www.verifymarkets.com/products/2015-global-residential-water-treatment-market). Some of the largest markets in 2014 were China, India, the U.S. and South Korea.
The key drivers in the Chinese residential water treatment market include rising customer awareness, growing health concerns, rising disposable incomes and the rise in China’s middle class. The residential water treatment market in China was valued at over $2.5 billion in 2014 and the market is expected to grow at a double-digit growth rate over the next 7 years. A significant portion of the point-of-use market is reverse osmosis (RO) technology and companies that did not offer RO systems historically have now started offering them. Online sales are becoming significantly important in China. Counter top systems are on a decline and under the sink systems are growing in popularity.
The Indian residential water treatment market is valued at over $600 million in 2014. Poor water quality, rising disposable incomes and improved customer awareness are the key drivers in the residential water treatment market in India. Direct-to-door selling was historically the predominant sales channel for water purifiers in India. Direct selling is now disappearing from Indian metros like New Delhi, Mumbai, Bangalore, Chennai, and Hyderabad. The market is highly unorganized in India. Some of the key companies in the Indian residential water treatment market include Eureka Forbes, Kent RO Systems Ltd and Hindustan Unilever Ltd.
The United States residential water treatment market was valued at over $1.9 billion in 2014. The key drivers in the market include concerns regarding taste, odor and rising expectations on drinking water quality. The market is expected to show a steady growth of 2.8 percent over the next 7 years. Carbon is the dominant technology used in the point-of-use systems in the U.S. The market is very fragmented; key companies in the U.S. market include Culligan International Company, Ecowater Systems LLC, The Clorox Company, and Helen of Troy Ltd.
The South Korean residential water treatment market is a rental market. The top few players rent out systems to customers. Ultrafiltration is the dominant technology being used in Korea. Customers in Korea prefer small-sized and hybrid water purifiers. For example, water purifiers with coffee makers, or purifiers being able to provide hot and cold water. Counter top systems are the most popular types of systems in Korea.
Overall, the global residential water treatment market varies by each country. The key drivers overall include poor water quality, rising consumer expectations and increasing consumer awareness regarding water quality.
The global residential water treatment market report is very detailed. It covers the point-of-use, point-of-entry, pitchers and replacement filters markets. The base year for the study is 2014 and revenue forecasts are provided until 2021. The study covers market drivers, restraints, technology trends, market size, market share analysis, distribution structure, pricing trends and strategic recommendations. Countries included in the study are: Taiwan, China, Hong Kong, South Korea, Malaysia, Thailand, Japan, Vietnam, India, Indonesia, Bangladesh, Pakistan, Australia, U.S., Mexico, Brazil, Argentina, Russia, Ukraine, Turkey, France, United Kingdom, Germany, Saudi Arabia & UAE and South Africa. The rest of the world is modeled in to arrive at the total global market size. A copy of the 2015 Global Residential Water Treatment Market research report can be obtained at http://www.verifymarkets.com. Follow us for updates on LinkedIn and Twitter @verify_markets.
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Source: Verify Markets