Commercial water treatment equipment: Key market research findings
- The Americas to dominate the market geographically
- Hospitality segment to account for a majority of the market’s revenue
- Key vendors – Clack, EcoWater, Pure Aqua, and 3M
Technavio’s market research analysts predict the global market for commercial water treatment equipment to grow at a CAGR of more than 6% between 2016 and 2020. Growing water scarcity is one of the primary driving forces behind the growth of this market. Population growth, increasing per capita consumption of water, and urbanization are resulting in water scarcity across the globe. This shortage of water sources is expected to increase the demand for water in the coming decade. During 2015, the Americas accounted for 37% of the overall market share to dominate the global commercial water treatment equipment market. The growth of the market is spurred by rapid urbanization and the resultant increase in the demand for wastewater treatment.
The new market research report from Technavio presents a breakdown and analysis of the commercial water treatment equipment segments based on the application.
“Vendors in the market are currently focusing on technological advancements. A combination of technologies is involved in water recycling processes. These are specifically designed to treat water in a manner such that it can be made reusable. Some of these technologies include desalination, nanotechnology and also the differently graded porous membranes,” says Vishu Rai, Lead Analyst, Energy, Technavio Research.
By 2020, the hospitality segment will account for more than 30% of the overall market share to continue its dominance as the key revenue generating vertical in the global market. The hospitality sector encompasses a broad range of accommodations that include hotels, boarding, hostels, lodgings, motels, and also the tourism facilities with restaurants, cafes, and bars. Since hotels need to maintain water quality in accordance with the government regulation, it will trigger an increase in the use of commercial water treatment equipment.
The key vendors in the market comprise of Clack, EcoWater, Pure Aqua, and 3M. The global commercial water treatment equipment market is fragmented with the presence of numerous small, medium, and large vendors, including international and regional players. Large and established players dominate the market in EMEA and the Americas. The Americas is likely to see substantial investments in water treatment technologies such as membrane technology because it is a developing market.
A more detailed analysis is available in the Technavio report, Global Commercial Water Treatment Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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