USD 5.43 billion
Report ID:
SQMIG25F2055 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
91
|Figures:
70
Home Water Filtration Unit Market size was valued at USD 5.7 Billion in 2023 and is poised to grow from USD 5.98 Billion in 2024 to USD 8.76 Billion by 2032, growing at a CAGR of 4.9% during the forecast period (2025-2032).
When tracking the expansion of the global home water filtration unit market, there has been a steady market trend in recent years. The home water filtration system market has had a consistent period of growth up till now. Consumer awareness of water quality problems to their health, sling with the increasing demand for clean and safe drinking water, has struck this market.
These factors have influenced this massive growth and it is predicted to keep going. Its steady rise can be credited to the global population understanding the presence of harmful toxins and pollutants in tap water, driving demand for water filtration units. Market growth is heavily driven by possible health risks of unfiltered water and concerns about pollutants which change the flavor and odor of drinking water.
The current consumer base is searching for sustainable water solutions that also implement minimal use of single-use plastic bottles due to the growing focus on eco-friendly consciousness, greatly impacting the home water filtration unit market. In response to these changes in consumer preferences, producers in the industry are developing cutting-edge filtering solutions and technologies.
The global home water filtration unit market is witnessing an increase in competition between market participants which has introduced a diverse range of product offerings and several price points into the industry. In conclusion, the global home water filtration unit market is predicted to continue on its path of tremendous growth as consumers keep prioritising the safety and quality of water.
Global Market Size
USD 5.43 billion
Largest Segment
RO Filters
Fastest Growth
UV Filters
Growth Rate
4.9% CAGR
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The segmentation of the global home water filtration unit market based on product type gives us the following categories: Point-of-use Filters (Under the Counter Filters, Faucet-mounted Filters, Counter Top Filters, Pitcher Filters, and others) and Point-of-entry Filters. The market can be split into RO Filters, UV Filters, Gravity Filters, and Others based on machine type. When dividing the market on the basis of application, we ended up with residential and light commercial.
Analysis by Machine Type
Currently, the global home water filtration units market is being led by the RO Filters category. Their highly advanced filtration process that can filter several pollutants like heavy metals and microorganisms are driving segmental growth. As concerns over water quality increase, consumers are more prone to spend money on RO systems for thorough water purification.
On the other hand, the fastest growing market segment is UV Filters. The reason for this segment’s quick growth lies in its capability to effectively remove hazardous microbes like bacteria and viruses without changing the flavor or chemical makeup of the water. Customers who are searching for fast and long-lasting water filtration options find UV filters more appealing since they need less upkeep than RO systems and are also eco-friendly. The growing global focus on convenience, health, and environmental effect is the reason for this segment’s quick expansion.
Analysis by Distribution Channel
The residential segment is the leading distribution channel category of the global home water filtration unit market. The dominance of this segment is owed to the increasing number of households that are demanding safe and clean drinking water. Many households have adopted residential filtration units as they are easy to install and operate, and also due to the rising awareness of environmental and health concerns. Domestic demand also saw a tremendous rise due to the emphasis the COVID-19 pandemic placed on the value of good water quality.
Conversely, the light commercial segment has risen as the fastest growing market category. Increased awareness of water quality problems in cafes, restaurants, offices, and other light commercial settings have influenced the market expansion. The harsher the regulations controlling water quality in commercial settings is getting, the more businesses are investing in advanced filtration technologies. The market growth in this sector can also be attributed to businesses focusing on providing workers and clients with safe and clean water, which is in alignment with their objectives about sustainability and corporate social responsibility.
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Traditionally, the region that has long led the global home water filtration unit market is North America, particularly the US and Canadian markets. The region’s willingness to install water filtration systems stems is only one of the factors that have fueled segmental growth and others include concerns over contaminants like lead and chlorine, a rising level of awareness about water quality, and regulations stipulating strict water quality standards. This region towers over the other market segments which are still expanding. The rise of North America has steadied, though it remains to be slow.
Compared to the slow and steady pace of North America, the Asia-Pacific segment is growing rapidly in the market. This quick development in the region can be attributed to several factors. They are as follows: the higher incomes of the regional population, the heightened awareness of water poisoning and other unclean water problems in countries like India and China. These reasons, coupled with the increasing number of people moving to urban areas, has helped the region grow with this spectacular speed. Consumers in this region are increasingly demanding home water filtration systems as a result of rising worries about waterborne diseases and the necessity of higher-quality drinking water. This market is an appealing target for both investors and producers as it is predicted to continue its upward trajectory of market growth.
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Drivers
Increasing Health and Environmental Awareness
Restraints
Regulatory Compliance Challenges
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A large number of producers and suppliers are constantly vying for market domination, making up the fierce competitive landscape of the global home water filtration units market. This intense competition has driven companies to use several methods to maintain an advantage over their competitors. Through innovation in product development and manufacturing, these participants differentiate their items from others on the market. Other tactics employed by these businesses to stay vital in the market and retain their share include investing in product diversity and technical advancements, along with building strategic partnerships.
As consumer preferences shift to eco-friendly and sustainable goods and services, businesses are producing environmentally friendly filtration systems, furthering market expansion. To conclude, the competitive environment of the global home water filtration units market maintains its dynamic nature and is extremely attuned to shifting consumer preferences and governmental developments.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Based on our analysis of the global home water filtration system market, a combination of several variables are influencing market expansion. These factors influencing growth work in tandem to ensure the market demand keeps surging all over the globe. One of these contributing factors are the consumer and industrial worries surrounding the adverse effect of toxins, such as lead and chlorine, present in unfiltered water. Apart from that, consumers are more cautious of what can affect their health and overall well-being, and their rising awareness of water quality issues and its impact on their standard of life, has boosted demand for water filtration units in several households. After the COVID-19 pandemic, these concerns went into overdrive, highlighting the importance of sanitary and safe drinking water. All these factors have driven consumers to invest in home water filtration systems to ensure their consumption of safe and pure drinking water.
Another major market driver is the growing trend of sustainability due to which consumers are looking for green alternatives. This trend has resulted in consumers lowering their dependence on single-use plastic bottles, which has pushed manufacturers to develop creative and eco-friendly products.
The main hurdles that the market faces are the difficulties in compliance of rigid regulations and the intense competition in differentiating between each participants’ water solutions. The home water filtrations unit market is flourishing, and the companies that can successfully implement a balance between sustainability, product innovation, and legal compliance are predicted to do well in this industry.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 5.43 billion |
Market size value in 2031 | USD 8.35 billion |
Growth Rate | 4.9% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Home Water Filtration Unit Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Home Water Filtration Unit Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Home Water Filtration Unit Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Home Water Filtration Unit Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG25F2055
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