As urbanization prevails across various emerging economies, at the backbone of infrastructure development is the requirement of providing clean water for drinking and other household purposes. A number of governments across the world have pledged to providing safe water to their residents and the emerging economies of Brazil, Argentina, Chile, Peru, and Venezuela makes South America an important region for the vendors operating in the residential water treatment equipment market. According to a recent business and commerce study by Future Market Insights (FMI), the demand in the South America residential water treatment equipment market will multiply at a CAGR of 9.2% during the forecast period of 2016 to 2026. In 2016, the total opportunities in this market translated into a revenue of US$330.0 mn.
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Increasing awareness regarding environmental pollution, harmful effects of hard water, increasing issues pertaining waterborne diseases and other risks, advent of smart water purifiers, growth in online sales of equipment for water treatment, and the need for additional treatment at POE or POU to gather recycled water are a few factors driving the residential water treatment equipment market. On the other hand, lack of awareness among consumers, cost of equipment, installation, and periodic services, and aging infrastructure are a few obstructions hindering the prosperity of the market. Nevertheless, growing investments on energy-efficient and advanced water treatment technologies, smart metering and data analysis, provision of product certification and performance of specific products, growing number of collaborations between government and private players, and recent technological advancements in the treatment processes.
The analysts of the report have detected that Brazil is the most lucrative country for the vendors operating in the South America residential water treatment equipment market, projecting the demand from the 200-plus million strong nation to increment at a CAGR of 8.7%, producing a revenue of more than US$475 mn by 2026. The Brazil residential water treatment equipment market is driven by favorable government policies to counter radically escalating water contamination concerns in the states of Rio de Janeiro, Espírito Santo, São Paulo, and Minas Gerais. These states have had tremendous industrialization in the recent past, which is leading to greater demand for water purifiers.
In 2015, volume-wise, the Brazil residential water treatment equipment market produced a demand for 345 thousand units, and the FMI report has estimated the number to escalate up to 875 thousand units by 2026, gaining traction from growing awareness regarding the need and availability of products among the urban consumers. Most of the sales are being report from online portals and retail stores, while direct marketing methods are not generating enough leads.
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The competitive landscape of the South America residential water treatment equipment market is split wide open for product differentiation. There is a strong need for the introduction of new and innovative products in the regional market and the players are now increasing concentrating on UV and gravity or media based purifiers, as these products meet the aesthetics norms. Some of the prominent companies in the South America residential water treatment equipment market, such as LG, Forbes Lux Group, Philips, and Panasonic are innovating and promoting UV purifiers and are expected to maintain their stronghold throughout the forecast period.
Based on equipment, the FMI report segments the South America residential water treatment equipment market into osmosis equipment, UV equipment, gravity or media equipment, faucet filter, and other filters.