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Water Softener Market Size
- Report ID: GMI2887
- Published Date: Sep 2018
- Report Format: PDF
Water Softener Market Size
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.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2017 |
| 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 |
| Growth Drivers: |
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| 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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Water Softener Market Scope
