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Home Water Filtration Unit Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global home water filtration unit products market was valued at USD 35.4 billion in 2022 and is estimated to grow at a CAGR of 5.6% from 2023 to 2030. The growing need for clean drinking water and stringent regulations regarding the quality of drinking water have fueled the demand for home water filtration unit products. Furthermore, the rising awareness of water-borne diseases due to the presence of heavy metals and other contaminants in the water is also driving the market. The growing health concerns among consumers are further propelling the demand for home water filtration units.
Rising consumer preference for eco-friendly products is one of the primary factors driving the market. Growing environmental awareness and the need to reduce the environmental impact of water filtration systems are expected to drive the demand for eco-friendly home water filtration unit products. Furthermore, the growing demand for organic and natural products has encouraged manufacturers to introduce eco-friendly water filtration units.
The rising awareness of water-borne diseases has increased the demand for water filtration systems in both industrial and residential sectors. The increasing focus on clean drinking water has led to the emergence of new water filtration technologies, such as ultrafiltration and reverse osmosis, in the market. These technologies are used in the home water filtration unit products to remove dangerous contaminants from water and make it fit for drinking.
The growing popularity of smart home products is expected to drive the market. Smart home water filtration products offer a range of features, such as Wi-Fi connectivity, remote access, and voice command capabilities. These features provide ease of use, which is driving the demand for home water filtration unit products. Furthermore, manufacturers are offering smart water filtration systems with sensors that can detect water quality, water flow, and temperature.
The increasing trend of product customization is expected to support the growth of the market. Manufacturers are offering customized water filtration systems according to the needs of the customers. For instance, in March 2022, H2O Care introduced a customized water filtration system for residential and commercial applications. The product is designed using advanced filtration technologies, such as reverse osmosis, ultrafiltration, and activated carbon filtration, to remove pollutants from water.
Product Insights
The point-of-use water filtration unit segment led the market and accounted for a share of around 42.5% in 2022. The demand for point-of-use water filtration unit has witnessed a substantial growth over the years, owing to its ability to reduce waterborne diseases and provide clean drinking water. According to a study conducted by the World Health Organization (WHO), in November 2019, more than 3.6 million people die each year due to water-related diseases. Thus, increasing health concerns among consumers and rise in awareness regarding water-borne diseases are some of the major factors driving the market growth.
The reverse osmosis filtration segment is anticipated to expand at the fastest CAGR of 8.6% over the forecast period. Reverse osmosis filtration is one of the most efficient and cost-effective filtration processes available and is used to remove a wide variety of contaminants from water. The increasing awareness regarding the health benefits of clean water is driving the demand for reverse osmosis filtration systems. Furthermore, growing concern for water conservation and stringent government regulations for water pollution are some of the other factors driving the market growth.
Distribution Channel Insights
The retail stores segment held the largest share of the home water filtration unit products market in 2022. The growth of this segment is attributed to the increasing availability of various types of products in different retail stores and the convenience of purchasing products from these places. These stores provide customers with the opportunity to compare products and brands on the basis of quality, features, and price. Additionally, retail stores are also a preferred destination for customers to understand the product features, specifications, and other details before purchasing a product.
The e-commerce segment is anticipated to exhibit the highest CAGR of 9.7% over the forecast period. The increasing penetration of the internet and the rising popularity of online shopping, such as Amazon and Flipkart, have led to the rapid growth of this segment. Additionally, the presence of several online stores offering a wide range of home water filtration products is also increasing the demand for these products. Moreover, the presence of discounts and offers on online stores is expected to further drive the market growth.
Type Insights
The whole house water filtration unit segment accounted for the largest revenue share of 70.2% in the year 2022. This can be attributed to the increasing awareness of the harmful effects of impure water and the availability of advanced filtration systems. Growing health concerns among the population are projected to drive the market during the forecast period as water purification systems help remove contaminants from tap water.
The countertop water filtration unit segment is expected to expand at the highest CAGR of 10.4% from 2021 to 2027. This can be attributed to the rising demand for countertop water filtration units due to their portability and easy installation. Furthermore, the increasing disposable income of people in developing countries is expected to propel the market. Companies are launching countertop water filtration systems with advanced features such as energy-efficiency and high-efficiency filter systems. For instance, in April 2021, AquaCrest, a brand of KAZ USA, Inc., launched a countertop water filtration system with a six-month filter life and a flow rate of 2 gallons per minute.
Regional Insights
Europe is expected to hold a major share of the home water filtration unit market, owing to the increasing demand for clean and safe drinking water in countries such as Germany, France, and the U.K. The presence of well-established companies, such as BRITA, Culligan International, and 3M, is expected to drive the market in the region. For instance, in March 2021, BRITA launched the new ‘BRITA Enjoy’ water filter jug for the European market, which offers a new level of convenience and quality.
Asia Pacific is expected to witness the fastest growth in the coming years, owing to increasing awareness about the health benefits of water filtration units, coupled with rising disposable incomes. Additionally, the presence of leading manufacturers, such as Aquasana, Coway, and Panasonic, is expected to drive the market in the region. For instance, in January 2021, Coway launched the ‘Aqua Angel’ home water filtration unit in the Asia Pacific region, which is equipped with advanced features such as a digital display and timer.
Financial Projections
In this part of the business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your home water filtration unit products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a home water filtration unit products business comes from sales of the products, and from service contracts for installation and maintenance. Here you will find a list with a description of each of them and other possible sources of profit such as advertising, rental agreements, and partnerships with other companies.
Projecting Expenses
In this section, all the regular expenses related to keeping the home water filtration unit products business running will be described. The list of operating expenses includes labor costs, marketing and advertising, materials, equipment and supplies, insurance policies, taxes, and others.
Key companies & market share insights
Some of the key companies operating in the home water filtration unit market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In December 2022, Aqua-Pure launched the AP110-2 water filtration system designed for residential use.
– In May 2022, GE Appliances launched the SmartWater line of water filtration systems designed for residential use.
– In June 2022, Culligan International Company launched the Level 4 Reverse Osmosis Drinking Water Filtration System, designed to provide clean, safe drinking water.
Some of the prominent players in the home water filtration unit market include:
– Aqua-Pure
– GE Appliances
– 3M Company
– Culligan International Company
– Pentair, Inc.
– Kinetico Incorporated
– Whirlpool Corporation
– Watts Water Technologies
– Ecolab Inc.
– Honeywell International Inc.
Global Home Water Filtration Unit Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global home water filtration unit market based on product, technology, type, distribution channel, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Point-of-Entry (POE)
– Point-of-Use (POU)
2. Technology Outlook (Revenue, USD Million, 2017 – 2030)
– Reverse Osmosis (RO)
– Activated Carbon
– Ultrafiltration (UF)
– Distillation
– Ion Exchange
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Whole House
– Countertop
– Faucet Mount
– Undersink
– Others
4. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Offline
5. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential for Growth in this Market?
[A]: The home water filtration unit market is expected to witness a high growth rate over the forecast period. This demand is driven by an increasing awareness of the health risks associated with contaminated water, rising demand for clean drinking water, and technological advancements.
[Q]: What are the Factors Driving the Home Water Filtration Unit Market?
[A]: Factors such as high demand for clean drinking water, increasing awareness regarding the health risks associated with contaminated water, and technological advancements are driving the home water filtration unit market.
[Q]: Who are the Key Players in the Home Water Filtration Unit Market?
[A]: Major players in the home water filtration unit market include 3M, Aquasana, Inc., Brita GmbH, Culligan International Company, Eureka Forbes Ltd., General Electric, Honeywell International Inc., Kube Systems, Pentair plc, and Whirlpool Corporation.
[Q]: What Regions Offer the Largest Opportunities for Sales of Home Water Filtration Units?
[A]: North America is expected to be the largest market for home water filtration units, due to the presence of a large number of manufacturers and the growing demand for clean drinking water. The Asia-Pacific region is also expected to witness significant growth due to the increasing population and rising awareness about the health risks associated with contaminated water.
[Q]: What Are the Types of Home Water Filtration Units?
[A]: Home water filtration units can be classified into reverse osmosis units, carbon filter units, sediment filter units, ultraviolet filter units, and others.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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