Water softening Systems market will total US$ 10.82 Bn by the end of 2021 As per Future Market Insights (FMI) analysis, exhibiting year on year growth of 4.5% between 2020 and 2021. Healthy growth projections remain constant for the forecast period of 2021-2031. Water softening systems demand outlook remains positive, with the market size […]
Water Softening Systems Market to Grow at 6.5% CAGR by 2031
Water softening Systems market will total US$ 10.82 Bn by the end of 2021 As per Future Market Insights (FMI) analysis, exhibiting year on year growth of 4.5% between 2020 and 2021. Healthy growth projections remain constant for the forecast period of 2021-2031.
Water softening systems demand outlook remains positive, with the market size projected to expand at a robust 6.5% CAGR over the assessment period. Awareness regarding water quality and policies favoring the implementation of advanced technologies will create a conducive environment for growth.
As per ESOMAR-certified consulting firm Future Market Insights (FMI) recent market survey, the global water softening systems market is anticipated to expand at a robust 6.5% CAGR between 2021 and 2031, surpassing a market valuation of US$ 10.82 Bn in 2021.
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As per FMI’s analysis, demand for ultra-soft water softening systems visibly grew due to soaring concerns pertaining to water contamination across the globe. However, amid the COVID-19 outbreak, sales reduced to an extent, especially on account of restrictions imposed on movement, which halted product installation in various residential, commercial, and industrial spaces.
Key trends shaping the water softening systems market include product innovations in the systems associated with high efficacy, technological advancements, and durability, along with growing concerns regarding water contamination across the globe.
Increasing adoption of water softening systems due to excessive mineral composition in water will drive sales in developed countries such as the U.S., the U.K., Germany, and Italy. The presence of leading market players will also augment market growth during the forecast period.
Growing awareness regarding water quality and government-led initiatives such as smart cities, coupled with non-governmental initiatives for promoting water sanitation and public health will generate demand in emerging markets including India, China, South Korea, and Brazil.
Application will continue increasing in the residential sector. FMI sees impressive prospects for non-electric water softening systems sales across households. Government policies adopted towards making clean water available for all will continue aiding sales growth in this segment.
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“Conscious efforts to spread water quality awareness led by government and non-profit organizations, along with product innovations in water softening systems aimed at providing better efficacy and enhanced performance will augment market growth in the upcoming decade,” says the FMI analyst.
Key Takeaways from Water Softening Systems Market Survey
- Based on design, twin-cylinder water softening systems will dominate the market.
- Residential sector will experience increased adoption of water softening systems throughout the assessment period.
- The U.S. will continue dominating the market due to the high concentration of market players.
- Sales outlook in the U.K. is projected to be positive with increasing applications of water softening systems in households.
- India will emerge as a lucrative market for sales of water softening systems, owing to growing awareness regarding water quality in the country.
Competitive Landscape
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, Marlo Incorporated, Monarch Water Ltd., Qingdao Haier Co., Ltd., Atlas Filtri, Watts Water Technologies Inc., Feedwater Limited and Canature Health Technology Group Co Ltd. are among the top manufactures in water softening systems market, as profiled by FMI.
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To manufacturers of water softening systems account for approximately 1/5th of the total sales of water softening systems. Lucrative strategies adopted by key players include new product launches, site expansions, mergers, acquisitions, and collaborations. For instance
- In May 2021, Culligan International was acquired by BDT Capital Partners, LLC, entering its next phase of growth by accelerating consumer strategy and extend its international footprint by innovating products with digital growth initiatives.
- In April 2021, Watts Water Technologies launches a new brand ‘Lync’ to provide solutions that address growing concerns in commercial buildings regarding water quality and preventing risks of infections from water-borne pathogens, while ensuring reliability and durability in the long run.
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