Water Softening Systems Market to grow at a flourishing CAGR of 6.5% from 2021 to 2031, owing to Rising concerns about Good Water Quality | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
North America is the highest contributor to the global water Softening Systems market and is anticipated to grow at a CAGR of 4.8% during the forecast. Rising health concerns Awareness about Water-borne Diseases period
DUBAI, United Arab Emirates, April 04, 2023 (GLOBE NEWSWIRE) -- The global water softening systems market is likely to exhibit a positive growth outlook over the forecast period by registering a robust CAGR of 6.5% from 2021 to 2031. The global market totaled a valuation of US$ 10.82 Billion by the end of 2021. Future Market Insights (FMI) analysis, exhibiting year-on-year growth of 4.5% between 2020 and 2021. According to the historic analysis, the global water softening systems market grew at a CAGR of 4.7% between 2016 and 2020.
The growth of the market is attributed to the surging awareness regarding water quality and policies favoring the implementation of advanced technologies will create a conducive environment for growth. Furthermore, government initiatives in collaboration with water supply management authorities that are aimed to establish a reliable supply chain will foster sales in the Water Softening Systems Market.
Some of the new advances that have recently taken place in the global water softening systems market include the implementation of government-sponsored initiatives such as the expansion of smart cities and clean water initiatives. Focus on the prevention of water contamination and ensuring the availability of clean, soft water for all will remain a chief growth driver.
The water-softening systems market sales are likely to accelerate due to the implementation of government-sponsored initiatives such as the expansion of smart cities and clean water initiatives. Focus on the prevention of water contamination and ensuring the availability of clean, soft water for all will remain a chief growth driver.
In addition to the residential sector, growth in application in healthcare, pharmaceuticals, food & beverage, and semiconductor industries are also driving demand for water-softening systems.
One of the primary reasons for this change in the growth rate is attributed to the steady surge of the market during the first half of the forecast period, owed to the implementation of government-sponsored initiatives such as the expansion of smart cities and clean water initiatives.
Growth Drivers
The quality of water is combined with the quality of life all over the world. Changes in quantity, quality, and natural cycles of water systems have consequential impacts on human life. Improved water sources offer direct access to water that is free of contamination and pollutants.
Water quality checks on an early basis are gaining immense traction as water changes over time and water treatment systems installed several years ago might not be fit for the current situation. This will also create attractive opportunities for water-softening systems sales growth. Water-softening systems are commonly installed in households to effectively eradicate hard minerals such as calcium and magnesium. But in some households, high iron content is reported to be a big problem, especially in rural areas. As the quality of water differs based on location, innovations in water softening systems are essential to tackle such issues and get the desired results.
Restraints
Rural consumers prefer purifying water via conventional processes such as boiling, cloth straining, chlorinating, slow sand filtration, and ceramic filters, which in turn reduces rural spending on water softening systems as compared to urban spending. In rural areas, consumers are comparatively less aware of the importance of water softener systems, purification, and filtering systems, which is a key factor restraining growth.
Key companies operating in the global water softening systems market are focusing on educating the masses about water quality in order to promote sales and community well-being. Additionally, product innovations, strategic collaborations, and manufacturing facility expansions are among other strategies employed by manufacturers.
Recent Developments
In March 2021, Kinetico Incorporated, a leader in quality water systems, collaborated with Mike Holmes, a well-known professional builder, contractor, and television host to spread awareness regarding the importance and need for safer, better water in homes and commercial spaces.
Key Companies Profiled
EcoWater Systems LLC
Culligan International Company
Kinetico Incorporated
Hydroflux
Envicare Technologies Pvt. Ltd.
Wychwood Water Systems Ltd.
Harvey Water Softeners Ltd.
Pelican Water Systems
BWT AG
Valuable Insights into the Water Softening Systems Market
On the basis of geographic landscape, the U.S., Canada, and the U.K. are considered to be key areas where water-related concerns are on a rise, which is encouraging market players to launch innovative and efficient water softening systems to curb the problem.
Numerous other countries such as India, China, and South Korea, which are witnessing growth in commercial and industrial sectors amid rapid urbanization, will emerge as attractive pockets for sale. Government-funded projects for public health, sanitization, and cleanliness are creating demand for water-softening systems, thereby propelling sales.
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