Water Softeners Market to Reach $3.57 Bn, Globally by 2025 at 7.1% CAGR, Says AMR
PORTLAND, Oregon, January 17, 2019 /PRNewswire/ --
Increasing need for clean and potable water worldwide due to rapid industrialization & urbanization and spiraling growth in food processing plants, chemical producers, textile manufacturers, and refineries are expected to propel the growth of the global water softener market.
Allied Market Research published a report, titled, "Water Softeners Market by Type (Salt-based and Salt-free Water Softeners) and End Use (Residential, Industrial, and Municipal): Global Opportunity Analysis and Industry Forecast, 2018-2025". The report offers extensive analyses of the key winning strategies, industry dynamics, market size & estimations, competitive landscape, and top investment pockets. As per the report, the global water softeners market garnered $2.05 billion in 2017, and is estimated to reach $3.57 billion by 2025, growing at a CAGR of 7.1% from 2018 to 2025.
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Intensified demand for potable water due to population growth, rise in the number of water-borne ailments due to consumption of hard water, and increase in acceptance in industrial applications such as food processing, chemical, textiles, and refineries drive the growth of the market. Moreover, rapid industrialization and urbanization worldwide has increased the adoption of water softeners due to their growing acceptance in product manufacturing, steam generation, and cleaning. However, high costs of operation, labor, and maintenance incurred during the water softening process coupled with environmental concerns regarding discharge of soft water such as increase in pH and stringent environmental policies mainly in U.S. and Europe that could raise compliance cost are expected to hinder the market growth. Conversely, untapped sectors in emerging economies such as India and Japan, increase in proliferation of manufacturing industries across the globe, and rise in awareness about adverse effects of consuming hard water would create new opportunities for growth of the industry.
Salt-based water softener to dominate, salt-free water softener segment to register fastest growth by 2025
Among product types, the salt-based water softener segment contributed more than two-thirds of the total market revenue in 2017 and would continue its dominance through 2025, as salt-based water softeners in homes to prevent health ailments like eye and skin irritation and hair fall, increase lifespan of fabric, avoid stains on faucets, fixtures, and taps, and extending shelf life of water-utilizing appliances. However, the salt-free water softener segment is projected to register the fastest CAGR of 8.0% from 2018 to 2025 because these products are cheaper than salt-based counterparts and do not require purging of chemicals to soften water and neutralize contaminants.
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Residential segment to be lucrative through 2025
Among applications, the residential segment accounted for 61.5% of the total market share in 2017 and would maintain its revenue lead through the study period. It is projected to grow at the fastest CAGR of 7.5% during the forecast period, as water softeners for residential purposes help reduce chlorine content, remove odor and bad taste from water, avoid stains on titles and faucets, and prevent formation of lime scales in appliances. The report also analyzes municipal and industrial segments.
North America to accrue highest revenue, Asia-Pacific to grow the fastest
The water softener market in North America contributed more than one-third of the global market revenue in 2017. It is projected to would retain its lion's share through 2025 due to the increase in incidences of water-borne diseases, increasing applications of advanced water softening instruments in residential, commercial and industrial sectors, and high awareness about the benefits of consuming soft water. However, the Asia-Pacific region would register the highest CAGR of 8.5% from 2018 to 2025 owing to the proactive measures by the government to improve access to fresh water, increase in foreign direct investments in commercial and residential infrastructure, and rapid proliferation of the industrial sector. The other regions analyzed in the report include Europe and Latin America, Middle East and Africa (LAMEA).
Key players of the industry
The key market players analyzed in the report include Culligan International Company, Kinetico UK Ltd, NuvoH2O, LLC, US Water System, Inc., and Ecowater System, LLC. New product launches, joint ventures, expansions, mergers & acquisitions, partnerships, collaborations, and others are some of the strategies implemented by these players to gain a lead position in the industry.
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