Water Softeners Market Poised to Garner Maximum Revenues by 2025
Posted by sanjayhande on November 26th, 2019
As per the report, the global water softeners market garnered .05 billion in 2017, and is estimated to reach .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
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
Key players of the industry
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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Joined: October 17th, 2019
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