Feb 05, 2021/IndustryNewsGlobal/--The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Point-of-Use Water Treatment Systems Market.
It was estimated prior to this unanticipated outbreak Point-of-Use Water Treatment Systems Market will reach CAGR of 10.1% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Point-of-Use Water Treatment Systems Market Insights
Point-of-use water treatment systems market is likely to witness an impressive CAGR of 10.1% during the forecast period. The growing demand for point-of-use water treatment systems is mainly due to advancement in the technologies in the water treatment industry, increase in awareness about the advantages of water treatment, and growing demand for potable drinking water.
Market Share Analysis
Point-of-Use Water Treatment Systems Market Share: By Device Type
Based on the device type, the market is segmented as tabletop pitchers, faucet-mounted filters, countertop units, under-the-sink filters, and others. The faucet-mounted segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The growth of the segment is due to its easy installation and it being comparatively cheaper than other devices. Also, it can be turned to an on-off position which allows users to collect drinking water at any time.
Point-of-Use Water Treatment Systems Market Share: By Technology Type
Based on the technology type, the market is segmented as reverse osmosis systems, ultrafiltration systems, distillation systems, disinfection methods, filtration methods, ion exchange, and others. The reverse osmosis systems is expected to remain dominant during the forecast period. The reason for its dominance can be attributed to the host of benefits offered, such as improvement of the color and taste of water, easy maintenance, ability to remove up to 99% of dissolved contaminants.
Point-of-Use Water Treatment Systems Market Share: By Application Type
Based on the application type, the point-of-use water treatment systems market is segmented as residential and non-residential. The non-residential segment includes commercial, industrial, healthcare educational institutes, and others. The segment dominates the market owing to increase in population and growing awareness about the benefits of water treatment.
Point-of-Use Water Treatment Systems Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest growing point-of-use water treatment systems market during the forecast period owing to increasing per-capita income of countries and presence of a large number of point-of-use water treatment systems manufacturers in China. The point-of-use water treatment systems market is mainly driven by increase in population.