Abstract
Increasing Consumer Awareness Boosts Market for Residential Water Treatment
Equipment
Growing health consciousness amongst people brings along awareness about the
quality of drinking water, spurring the development of water treatment
products. Apart from bacterial and viral contamination, myriad chemicals,
fertilizers, pesticides, heavy metals, which cannot be removed by boiling,
also pollute water. Manufacturers of residential water treatment equipment are
educating consumers about the efficacy of their products in resolving these
problems. As a result, residential consumers are beginning to prioritize water
treatment, pushing up the sales of water treatment equipment.
This Frost & Sullivan research analyzes the global competitive environment for
the residential water treatment equipment markets. It provides detailed
insights into recent developments and trends. The study also discusses the
prevailing market drivers and industry challenges and gives an overview of the
market revenues and shares.
Certification of Quality Equipment likely to Determine the Growth of the Market
The presence of many water treatment technologies in the market, all of which
provide similar options and capabilities, confuses the consumer while choosing
a system for their specific need. "If a water treatment unit is not properly
sized or is not the right solution, the end user will be disappointed with the
results," says the analyst. "As a result, consumers may begin to distrust the
technology, dismissing residential water treatment methods entirely."
A certified residential water treatment unit that has met the strict standards
and tests of an independent testing agency is likely to change this
perception. National Sanitation Foundation (NSF), the leading certifying
agency for residential water treatment systems, has various standards to
certify technologies. For instance, Standard 42 certifies water treatment to
address aesthetic effects and Standard 44 certifies that water softeners
effectively remove hardness from the incoming water. Certification is set to
remain an important aspect in determining the growth of the global market.
Aggressive Competition and Price Pressures are Key challenges
Investing in user education as well as advertising to increase awareness about
the water purifiers' price, aesthetics, and technology has stepped up
competition among existing market participants. Though this has boosted the
sales of equipment, the lack of radical improvements in technology has made
price the main differentiator in the water purification equipment market.
Larger participants offering products that have been manufactured in Asian
countries at lower costs further intensify pricing pressures. These
participants are able to capitalize on the low cost of manufacturing and
distribution, making it difficult for smaller participants to face the price
wars. "As the end users are price sensitive, cost becomes an important factor
in the purchase decision of water purification equipment," notes the analyst.
This restraint is expected to have a high impact on the revenue growth of
global residential water treatment equipment market.
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