Global Home Water Filtration Unit Market

Home Water Filtration Unit Market Size, Share, Growth Analysis, By Product Type(Point-of-use Filters {Under the Counter Filters, Counter Top Filters, Pitcher Filters, Faucet-mounted Filters), By Category(RO Filters, UV Filters, Gravity Filters, and Others), By Application(Residential and Light Commercial), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25F2055 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 91 | Figures: 70

Home Water Filtration Unit Market News

In November 2022, Culligan International, a US-based global water treatment company initiated a merger with Waterlogic Group Holding, a global leader in the design, distribution and service of workplace and public hydration solutions, and became a significant leader in clean and sustainable drinking water solutions, going by the name "Culligan."

In July 2022, in a calculated attempt to grow its commercial water solutions business, Pentair PLC, a manufacturer of water treatment solutions announced that its acquisition of Manitowoc Ice from Welbilt, Inc., a company that designs and manufactures food products machinery, had been completed successfully.

In January 2022, Tesla Power USA's Healthy Life business debuted a new line of alkaline RO water filtration products, under the brand names YogiJal & Alkalino, in India. Through Tesla Power Shops, these goods were made publicly available, with additional incentives including installation, sales support, and exchange services.

In September 2021, with a transaction worth over USD 582 million, Advent International, and Shapoorji Pallonji Group agreed that Advent International will buy a majority ownership of more than 72% in Eureka Forbes Ltd, an Indian multinational home appliances company that makes water purification devices, vacuum cleaners, and more. This merger aims to capitalize on the combined domestic and international water treatment sector knowledge of both businesses.

In March 2021, Samsung released a number of configurable, NSF-certified water filtration units that featured a range of options, including multi-facet, ambient, and hot-cold settings. This launch was conducted in order to capture the South Korean market and profit from the stay-at-home trend that the COVID-19 pandemic encouraged.

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Home Water Filtration Unit Market size was valued at USD 5.43 billion in 2022 and is poised to grow from USD 5.7 billion in 2023 to USD 8.35 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).

A large number of producers and suppliers are constantly vying for market domination, making up the fierce competitive landscape of the 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. 'Kent RO Systems Ltd. (India)', 'Brita LP (US)', 'Panasonic Corporation (Japan)', 'General Electric Company (US)', 'Unilever PLC (UK)', 'Pentair PLC (US)', 'Culligan International Company (US)', 'LG Electronics (South Korea)', 'Helen of Troy Limited (US)', 'iSpring Water Systems LLC (US)', 'Best Water Technology Group (Austria)', 'The 3M Company (US)', 'Honeywell International Inc. (Switzerland)', 'AO Smith Corporation (US)'

One of the major drivers of the home water filtration unit market is the growing consumer awareness of health and environmental risks that are associated with drinking water. Stemming from concerns about toxins including lead, chlorine, and microplastics and the increasing demand for replacement of single-use plastic bottles have pushed more households to invest in water filtration systems. This trend is fueling innovation and market expansion in the sector due to the rising need for efficient and environmentally friendly water filtration systems.

Sustainable Filtration Solution: A key market trend in the home water filtration unit market is the heightened emphasis on sustainability. This trend has opened the eyes of consumers all over the world to the negative impacts of traditional home water filtration units. In response to this awareness, there was a rise in demand for environmentally conscious filtration solutions. The systems that produced less plastic waste and minimized negative environmental impact were favored over old models. Manufacturers noted the shift to sustainable purchases and the worldwide changes towards the environment and adapted. Water filtration options now were produced with recyclable components, lasted longer, and reduced water waste, thanks to their sustainable efforts. Additionally, they market these efforts to build a better and greener brand value among consumers who have developed a consciousness of the ecosystem and its welfare.

Traditionally, the region that has long led the 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.

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Home Water Filtration Unit Market News

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