North America Household Water Treatment System Market Flourishing– Projected to Reach Worth USD 6,559.4 Million by 2027
Published | 25 January 2022
North America household water treatment market is anticipated to flourish due to the rising demand for household water treatment systems as a result of increasing water pollution and population influx in urban areas…
A recent study by the strategic consulting and market research firm BlueWeave Consulting revealed that the North America household water treatment systems market was worth USD 4,547.1 million in 2021. The market is further anticipated to reach USD 6,559.4 million in 2027 with a significant CAGR of 6.8% during the forecast period, i.e., 2022-2027. North America household water treatment system market is primarily supported by the rapid growth in the residential sector. Throughout the United States, household water treatment systems are used to treat water in houses. Home water supply systems obtain water from a treatment plant and make it available it to all appliances and (fixtures).
Government Initiatives For Subsidizing Water Treatment Systems Bolstering The Growth Of The Market
As reported by the United States Environmental Protection Agency (EPA), the US government has started focusing on the challenges rural communities in the United States face when it comes to clean drinking water. EPA announced in October 2021 that the agency will sanction a grant worth USD 21.7 million to provide training and technical assistance to rural communities across the United States that require small drinking water treatment systems. The funding is expected to enhance public health by providing communities with safer drinking water and ensuring wastewater is treated properly. The allocations in the United States and Canada are creating a growing focus on the development of Water Treatment Systems that will help vulnerable communities get access to clean water that is free from any contaminants, further boosting the demand for household water treatment systems.
Higher Equipment, Maintenance & Installation Costs Anticipated to Impede Market Growth
Although water filters and treatment systems may provide greater access to safe drinking water, they do come with a higher cost. The average cost of a water treatment system is around USD 2000, which includes installation, labor, and other costs. According to the study conducted by BlueWeave Consulting such higher costs may not appear high for financial fit societies across the North America. Water supply systems that provide extensive water supply for the whole house (point of entry) may cost around USD 9000. Additionally, the maintenance costs of the water filtration and treatment systems installed at home can range from USD 200 to USD 800. While these systems have a good lifespan, they may require frequent membrane replacements, filter replacements, and accompanying labor costs in areas where groundwater contamination occurs, therefore proving less useful than government-provided tap water.
Impact of COVID-19 on the North America Household Water Treatment System Market
COVID-19 has moderately affected the adoption of water treatment systems across the North America. Due to the lockdown restrictions, consumers had to suffer some financial loss, disrupting their budgeting plans, which negatively affected the demand for water treatment systems to be installed in the households. However, the positive impact registered was the growth and exposure of clean water technologies across North America. Amidst COVID-19, several firms had to reduce their production and water usage due to supply chain disruptions and economic volatility, significantly impacting the commercial market for point of entry water treatment systems. Furthermore, due to the prevailing condition of COVID-19, many players are opting for online sales channels. In the second wave of pandemic, the bottled water delivery system was slightly impacted due to the concern of disease transmission. People across the globe, including North America, shift from bottled water delivery systems to water treatment systems for contactless water treatment in the household, which propelled the demand for household water treatment systems across North America.
Whole House Sediment Water Filter Accounted For Lucrative Market Share in the North America Household Water Treatment System Market
Based on products, the North America household water treatment system market is segmented into Countertop Reverse Osmosis Water Filter System, Ultra-Filtration Under Sink Water Filter System, Faucet Water Filtration System, Water Filter Pitcher, Refrigerator-Water-Filter-Replacement, Pool & Spa Filter Cartridge, and Whole House Sediment Water Filter. Among these, the whole house sediment water filter segment accounted for the largest share in 2021, followed by the countertop reverse osmosis water filter system segment, which held a lucrative market share in 2021. Counter-top filtration systems are becoming increasingly popular due to their ease of use, maintenance, and installation. Furthermore, these devices reduce contaminants such as bacteria, dirt, chlorine, particulates, rust, lead, mercury, silt, copper, benzene, cadmium, and cysts present in water.
The United States Dominates the North America Household Water Treatment System Market
North America household water treatment system market is segmented into the United States, Canada, and Mexico based on country. The United States accounted for the largest share in the market in 2021 and is expected to grow at a significant CAGR during the forecast period. Followed by the United States, Canada is anticipated to grow at a higher CAGR during the forecast period. The residential sector in Canada is thriving due to Canada's emerging economy. In Canada, residential real estate transactions totaled 486,800 in 2019, a 6.2% increase from a five-year low in 2018. The figure reflects increasing activity in Ontario and Quebec, where activity climbed by 9% and 11%, respectively. Home sales in the Greater Toronto Area (GTA) reached the second-highest level on record for October in 2021.
North America Household Water Treatment System Market- Competitive Landscape
The key players in the industry are Waterdrop, APEC Water Systems Culligan, Geekpure, Express Water Aqua Tru, Brondell, Max Water, Aquasana (AO Smith Corporation), 3M, Vitapur, Dupont, iSpring, and other prominent players. In response to rising environmental concerns, key players and brands have begun investing heavily in smart filtration technology that helps remove particles more efficiently while reducing water discharge.
The report's in-depth analysis provides information about the North America household water treatment system market's growth potential, upcoming trends, and statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the North America Household Water Treatment System market, along with industry insights, to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the market's growth drivers, challenges, and competitive dynamics.
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