CORRECTING and REPLACING Top 3 Emerging Trends Impacting the Residential Water Treatment Equipment Market in the US From 2017-2021: Technavio

05-Aug-2017 Intellasia | BusinessWire | 1:39 AM Print This Post

LONDON–(BUSINESS WIRE)–#Research–Please replace the release dated August 2, 2017, with the following
corrected version due to multiple revisions.


The corrected release reads:

TOP 3 EMERGING TRENDS IMPACTING THE RESIDENTIAL WATER TREATMENT
EQUIPMENT MARKET IN THE US FROM 2017-2021: TECHNAVIO

Technavio’s latest report on the residential
water treatment equipment market in the US
provides an
analysis of the most important trends expected to impact the market
outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

The residential
water treatment equipment market in the US
is expected to grow at a
CAGR of almost 12% during the forecast period. The market is witnessing
an incremental growth due to the increase in demand for superior quality
recycled water. The need of water treatment is because of factors like
scarcity of water, which necessitates the recycling of water for further
use. The expectations from consumers regarding the taste, odor, and
quality of water are increasing. People are increasingly shifting to
residential water treatment equipment for this purpose. The key players
in the market are EcoWater Systems, 3M, Haier, Pentair, and Whirlpool.

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only:
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The top three emerging trends driving the residential water treatment
equipment market in the US according to Technavio consumer
and retail
research analysts are:

  • Smart water purifiers
  • Growth in online sales of water treatment equipment
  • Safety and certification of products

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challenges, trends, and more.

Smart water purifiers

“The US is one of the most developed countries in the world with high
penetration of internet and smartphones. There is an increasing demand
for digital technologies and products that are easy and convenient to
use. Consumers are ready to pay more for products if they save their
time and effort
,” says Tamal Saha, a lead analyst at Technavio for
research on retail
goods and services
.

Vendors are introducing smart technologies in their purifiers, which can
help connect them to smartphones and the internet through Wi-Fi and
Bluetooth. Xiaomi has launched the Xiaomi Mi Water Purifier 2, which is
a smart device that can be connected to the mobile phone through Wi-Fi
using the Smart Home app. This app provides information about the
quality of water and tracks the changes in values before and after
purification.

Growth in online sales of water treatment equipment

“E-commerce has changed the lives of people as well as industries
like apparel, consumer packaged goods, entertainment, and home
appliances market. Amazon.com, an e-commerce site, provides its
consumers with a variety of options to buy from. E-commerce sites offer
greater convenience and quicker delivery than the offline channel of
distribution,”
adds Tamal.

Online retail will have a steady growth in future since people with
hectic lifestyles prefer the convenience offered by it. Manufacturers
would benefit from entering the online business, helping them understand
the current needs, priorities, and perceptions of consumers in buying a
product.

Safety and certification of products

There are many standards related to the safety and performance of
products. Manufacturers should adhere to these standards to maintain the
quality of their products. In the US, the Consumer Product Safety
Commission (CPSC) requires the manufacturers and importers of products
to provide a written certificate that the products abide by the rules of
the CPSC. Manufacturers would gain more consumer insight, which will
help them increase their brand value.

Another standard is the NSF International/American National Standards
Institute (NSF/ANSI), which requires the manufacturer or distributor to
comply with NSF/ANSI 61 certification to be able to sell in North
America. This certification can be used for other countries also. Most
of the market leaders comply with this certification to provide their
consumers assurance that the products are safe to use.

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About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

 


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