Water Softener Market size was valued $7 billion in 2017 and will grow at a CAGR of 8.1% from 2018 to 2024, industry expects consumption of above 1 million units by 2024. Increasing amount of hard water in residential premises may escalate the market growth in forecast timeline.
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Service apartments increased by around 15% in 2015 and are anticipated to witness substantial growth during forecast period, thus surging demand for this softening equipment in residential sector.
Growing acceptance of product in industrial applications including food processing, chemical, textile and refineries is anticipated to drive the water softener market by 2024. These remove magnesium and calcium that exists by means of physical or chemical methods to decrease adverse hard water effects on end-use application, which may stimulate product demand.
Salt based segment is anticipated to show substantial gains owing to its relatively low price, high efficiency in decreasing scale formation in boilers, tanks, and pipes along with easy availability. Mounting industrial sector along with swift growth of industrial sector will fuel the water softener market demand.
|Water Softener Market Size in 2017:||7 Billion (USD)|
|Forecast Period:||2018 to 2024|
|2024 Value Projection:||10 Billion (USD)|
|Historical Data for:||2013 to 2017|
|No. of Pages:||1,800|
|Tables, Charts & Figures:||4,023|
|Segments covered:||Product, Capacity, Application and Region|
|Pitfalls & Challenges:|
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Growing environmental apprehensions are encouraging customers, manufacturers, and government to look for nature friendly and sustainable products, which is anticipated to fuel demand for these products. Manufacturers are developing technologically advanced softening systems which help to reduce wastage. These systems help in improving efficiency by reducing sodium & chloride content by making it suitable for all end use applications in industrial, commercial and residential sector, which is likely to have a positive outlook on water softener market share.
Global textile sector may surpass $1 trillion by 2024. This industry is water intensive due to its usage in cleaning materials and flushing steps. Waste product generated must be cleaned from oil, fat and colour, water softener is used to perform these functions, thus propelling the water softener market.
Water softening process is expensive owing to its high energy usage, labour and maintenance cost, which may challenge industry profitability. Additionally, soft water when released in the environment can raise acidity of soil, therefore, making plants less productive. Stringent environmental policies mainly in U.S. and Europe may add on compliance cost, which may affect water softener market value.
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Salt based segment is estimated to surpass $10.5 billion by 2024. It decreases pH, which can cause skin and eye irritation. Soft water decreases consumption of soaps and detergents that are required for laundry and cleaning. Softeners increases lifespan of textile and fabric, thus propelling water softener market. Softening System prevents stains on faucets, fixtures and taps in kitchen and washroom ensuring fittings looks new for a longer time span. The system also shields equipment’s including washing machine, geyser and dishwasher from corrosion and core damage control, thus encompassing their life. It helps in protecting skin and hair from harmful effects of hard liquid, thus driving product demand.
Based on capacity, the market size of 32,000 grain from residential application may exceed $105 million in forecasted timeframe. Growing consciousness regarding ill effects of hard water has increased installation of treatment systems in residentials, thus stimulating product demand. These systems are effective in restricting excessive amount of calcium and magnesium by removing impurities and undesired ingredients which makes it hard and unsafe for usage, which will drive the water softener market growth.
600,000 grain from commercial application may witness gains up to 4.5% owing to its features including scale reduction, saving detergents and using less energy while heating. These products reduce consumption and saves energy which should drive the water softener market by 2024. Growing hotel industry owing increasing consumer spending on tourism will have a positive influence on product demand. Rusty water in hotel room may have an adverse effect on everything it contacts, moreover, high magnesium and calcium content can block plumbing’s, thus propelling product demand.
Asia Pacific led by South Korea, Japan, India and China is estimated to surpass USD 5 billion in the estimated timeframe owing to increasing consumer consciousness regarding health worries due to unsafe liquids should grow product demand in this region. Municipal corporation in countries like India and China do not treat hard water effectively due to infrastructural bottlenecks. Therefore, residential consumers have started picking point-of-entry equipment like softeners, thus driving the water softener industry growth.
Europe led by UK, Italy, France and Germany; may record robust gains over 6% up to 2024. Strict regulations related to water treatment along with growing need for softeners in numerous sectors including pharmaceuticals, chemical and refineries are anticipated to fuel the water softener market.
Brazil may witness strong gains due to rising urbanization and growing industries. Growing financial institution aiding for water treatment solutions, which may promote the market in this region.
Global water softener market share is slightly consolidated and competitive with major manufacturers include :
Market is characterized with product novelty supported by balancing use of effective materials along with manufacturing more relentless and high products. Key players are involved in strategic initiatives like capacity expansion and mergers & acquisitions to implement innovative technologies with increasing manufacturing capacity to accommodate escalating demand.
Water softener is a unit that removes hardness of liquid, chemical compounds are added in this process for making it soften by precipitating minerals. Hard liquid can damage to boiler, pipes and electronic appliances like washing machines, geyser through limescale. This device uses ion exchange process to eliminate calcium and magnesium minerals, which is likely to drive the global water softener market.
Water Softener Market report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in units and revenue in USD Million from 2013 to 2024, for the following segments:
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The above information is provided on a regional and country basis for the following: