According to the report published by Allied Market Research, the global home water filtration unit market garnered $3.7 billion in 2021, and is estimated to generate $5.8 billion by 2031, manifesting a CAGR of 4.9% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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The CXOs of major corporations predict that the market for home water filtration units will grow significantly in the coming years. The popularity of home water filtration units has been increasing in urban cities owing to several factors including a rise in health concerns, advancement in water filtration technologies, and an increase in water contamination due to industrial waste. People are increasingly requesting water filtration systems due to the rise in consumer standards and an increase in purchasing power, particularly in developing nations in the Asia-Pacific region and the Middle East. This is creating expansion chances for the industry.
As a result, the market for water filtration systems is expected to experience growth during the projected period due to rise in demand for clean drinking water and filtered water for home uses. The high cost of installing water filters and the ongoing expense of filters will be a major obstacle to the expansion of the market for home water filtration units during the course of the forecast period. The filters used for water filtration must be replaced on schedule to maintain the quality of water. The criteria for replacing individual filters vary depending on the product type and filtration system technology.
Based on product type, the ultraviolet purification systems segment accounted for the highest share in 2021, contributing to nearly one-thirds of the global home water filtration unit market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the sediment filters segment is expected to manifest the highest CAGR of 6.2% from 2022 to 2031.
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Based on sales channel, the direct sales segment accounted for the highest share in 2021, holding nearly three-fourths of the global home water filtration unit market, and is expected to continue its leadership status during the forecast period. However, the indirect sales segment is estimated to grow at the highest CAGR of 5.3% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global home water filtration unit market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 6.6% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of the global home water filtration unit market analyzed in the research include SUEZ Water Technologies & Solutions, Tata Chemicals Limited, Amway Corporation, A. O. Smith Corporation, Eureka Forbes Limited, Halo Source Inc., KENT RO Systems Ltd., LG Electronics, Panasonic Corporation, Brita GmbH.
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The report provides a detailed analysis of these key players of the global home water filtration unit market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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