June 10, 2020
According to the research report titled ‘Global Water Filter Housing Market Size study with COVID-19 impact, by Type (Reverse Osmosis, Ozone Water Purifier, Activated Carbon, Distiller), by Application (Environmental Protection, Chemical Industry) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, the global water filter housing market was worth USD 10 billion in 2019 and is expected to grow with a CGAR of 15.9% over 2020-2026.
A water filter is basically assists in removing impurities by reducing the contamination of water using chemical or biological process, or a fine physical barrier. Industry and analysts reckon that there has been considerable increase in the consumption of water filters aligned with population surge. This shortage of drinking water worldwide is acting as a boon for water purifier industry. Since issues pertaining to the impurity of water are gradually entering the league of severe environmental & global concerns.
The findings of the research report propose that the rise in the number of government bodies aimed at preserving water quality, as well as burgeoning awareness about waterborne diseases are driving the demand for water filter housing products. Moreover, improved living standards of people will contribute to the high CAGR of the global market over the estimated timeframe.
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The U.S. Environmental Protection Agency regulates Clean Water Act and National Pollutant Discharge Elimination System. The NPDES provides permits to various wastewater plants and sets environment protection standards for them by establishing reporting and monitoring requirements and specifying the discharge limits. The EPA has also constituted the Safe Drinking Water Act to certify the quality of water.
In view of the COVID-19 outbreak and the stringent measures enacted by the government bodies on the movement of individuals, goods & services has been projected to garner a trivial impact on the water filtration sector. Additionally, hefty cost of equipment and maintenance will act as a restraining factor for market growth over 2020-2026.
In terms of application, the market is categorized into environmental protection and chemical industry. Based on the type, the market is segmented into distiller, activated carbon, ozone water purifier, and reverse osmosis.
Considering the regional hierarchy, the key regions include Latin America, Europe, North America, Rest of the world, and Asia-Pacific. Asia-Pacific market is reckoned to amass substantial gains pertaining to the shortage of clean water and demand of household products for water filtration in the region. It is also likely to record a high CAGR over 2020-2026, cites the report.
The leading organizations in the global water filter housing market are Katadyn, Eaton, Harmsco, Meissner Filtration Products, Inc., Parker, Pentair, 3M, Pall, Sartorius, and Mitsubishi among others.