A report on Global Water Filter Housing Market was added by Kenneth Research which covers the market size and growth over the forecast period 2022-2031. The market study involves analysis of the product demand and market on the basis of various factors and through a number of analytical tools. It is anticipated to grow at a significant CAGR during the forecast period. This can be attributed to the growth in the energy and power industry at a global scale.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for Global Water Filter Housing Market products.
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It is also anticipated to grow on account of the growing demand for alternative renewable energy sources, backed by the growing concern for pollution worldwide emitted from burning conventional fuel sources. Total electricity capacity from renewable energy sources around the world increased from around 750,000MW in 2000 to about 2,500,000MW in 2019. Additionally, electricity from hydropower energy, wind, solar, and bioenergy, grew from around 780000MW, 16000MW, 1200MW, and 29000MW in 2000 to 1300000MW, 620000MW, 580000MW, and 120000MW in 2019 respectively.
Global Water Filter Housing Market is valued approximately USD 10 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.9% over the forecast period 2020-2026. A water filter is increasingly used for household purpose to remove impurities by lowering contamination of water by means of a fine physical barrier, a chemical process, or a biological process. The use of water filter housing has been rising with the increase in the number of people which have gained access to pure drinking water. This scarcity of drinking water has fueled the way for development in the water purifier industry. Since water-related complications are gradually penetrating the league of severe environmental and global concerns. Thus, growing number of government bodies to maintain water quality for protecting environment, rising awareness among people towards health due to increasing water-borne diseases and improving standards of living of people are the few factors responsible for high CAGR of the market over the forecast period. For instance, the U.S. Environmental Protection Agency (EPA), which also administers the Clean Water Act (CWA) and the National Pollutant Discharge Elimination System (NPDES). NPDES issues permits to all wastewater facilities and directs them to protect the environment by establishing monitoring and reporting requirements and specific discharge limits. To certify drinking water quality, the EPA also formed the Safe Drinking Water Act (SDWA). The EPA sets the standards and regulates the localities and states, and water suppliers who execute the standards. Most water and wastewater processing and purification takes place at the local level. This in turn is expected to fuel the adoption for water testing & analysis instruments in environmental applications all over the globe. Amidst the COVID-19 outbreak and the strict measures implemented by the government on the movement of people, goods & services will have a short-term impact on the water filtration industry thus, less impacting to the growth of water filter housing industry around the world. In addition, high equipment and maintenance cost is constantly consider as a major restraining factor to the market growth over the forecast period of 2020-2026.
The regional analysis of global Water Filter Housing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to rising demand of household products for water filtration, and the scarcity of clean water in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to the presence of large population, along with growing government initiatives towards maintaining water quality in the region.
Major market player included in this report are:
Meissner Filtration Products, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Ozone Water Purifier
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2022 to 2031
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Target Audience of the Global Water Filter Housing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
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