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The global market for consumer water treatment systems is set for annual double-digit growth over the next four years, with demand predicted to surpass $14 billion by 2017, according to a new report by market research firm The Freedonia Group.
As economies in a number of key regions continue to recover from the financial downturn of the past few years, demand for home water treatment systems is expected to rise over the next four years. Consumers are becoming increasingly aware of the adverse health effects of water contamination and the problems that arise from aging plumbing systems. Even though water treatment plants may provide water of the highest quality, old water system infrastructure can compromise its quality. Particularly in developed countries, consumers have grown more savvy on the different types of systems and their positive impact on the aesthetic qualities of drinking water and this will be a major driving force for the market, The Freedonia Group said.
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Meanwhile, the industry will be facing challenges in some developing countries and in areas where regulation on consumer water treatment is less stringent. Many consumers are still skeptical about the performance of such products and this may hold back the growth of the industry. However, the report noted that in some emerging markets, namely Brazil, Russia, India and China (BRIC), demand is forecast to grow faster than the global average through 2017.