PUBLISHER: The Business Research Company | PRODUCT CODE: 1425925
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425925
Water Softening Systems Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on water softening systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for water softening systems? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The water softening systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Water softening systems are whole-house filtration systems that employ the ion exchange process to remove calcium and magnesium minerals, which contribute to water hardness.
The primary types of water-softening systems include twin cylinders, mono-cylinders, and multi-cylinders. A twin-cylinder water softener is equipped with two tanks, allowing one to be in use while the other undergoes the regeneration process. Softeners can be categorized as salt-based ion exchange softeners, salt-free water softeners operated by electric means, and non-electric methods. These systems find applications in various settings, including residential, commercial, and industrial contexts, and are distributed through channels such as specialty stores, hypermarkets or supermarkets, and online stores.
The water softening systems market research report is one of a series of new reports from The Business Research Company that provides water softening systems market statistics, including water softening systems industry global market size, regional shares, competitors with a water softening systems market share, detailed water softening systems market segments, market trends and opportunities, and any further data you may need to thrive in the water softening systems industry. This water softening systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The water softening systems market size has grown strongly in recent years. It will grow from $4.02 billion in 2023 to $4.33 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed in the historical period can be attributed to various factors, including concerns about water quality, increased demand for water softening systems in both industrial and residential settings, a focus on health and protection of appliances, infrastructure development related to water treatment, and evolving consumer preferences. These factors collectively contributed to the expansion of the water softening systems market during the historical period.
The water softening systems market size is expected to see strong growth in the next few years. It will grow to $5.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth in the forecast period can be attributed to several factors, including the emergence of water softening as a service, increased applications in industrial settings, a focus on customization and scalability, growing consumer education and awareness, the emphasis on water recycling and reuse practices, and the expansion of the market into developing regions. Major trends expected in the forecast period include the integration of smart technologies in water softening systems, a rise in sustainable solutions, the development of health-centric solutions, ongoing efforts in consumer education and awareness, and a continued focus on customization and scalability within the water softening industry. These trends reflect the evolving strategies and technologies aimed at addressing water quality concerns and promoting more sustainable and consumer-friendly solutions.
The anticipated growth in the water-softening systems market is largely attributed to the increasing agricultural activities. These activities encompass a wide range of farming practices, including harvesting, breeding, producing agricultural products, and raising animals for farming purposes. Water-softening systems play a crucial role in agricultural settings by reducing water surface tension, aiding in nutrient supply, supporting water and mineral absorption, accelerating plant growth, and ultimately enhancing overall yields. For example, based on estimates from the Ministry of Agriculture and Farmers Welfare in India, wheat production for 2022-23 is projected to reach 112.18 million tons, marking a 4.12% increase from the previous year. This significant rise in agricultural activities directly contributes to driving the demand for water softening systems.
Furthermore, the escalating water consumption rates are expected to propel the growth of the water-softening systems market in the forecasted period. Water consumption, referring to the volume of water not returned to its source after usage, continues to rise globally. Water-softening systems are designed to alleviate water hardness by eliminating minerals like calcium and magnesium. However, the process of water softening, particularly during regeneration phases, can lead to increased water usage. According to reports published in the Nature journal, global water demand for various uses stands at approximately 4,600 km3 per year, with projections indicating a potential increase by 20% to 30% by 2050, reaching 5,500 to 6,000 km3 per year. The demand for water in agriculture is anticipated to surge by 60% by 2025. Hence, the escalating water usage is expected to be a significant driver for the expansion of the water-softening systems market.
Moreover, technological advancements stand out as a crucial trend shaping the water softening systems market. Major companies operating in this sector are heavily focused on innovating new technologies to maintain their market position. For example, in January 2021, Xylem Inc., a US-based water technology provider, introduced Xylem Edge Control, a cutting-edge smart wastewater treatment solution. This innovative suite of digital technologies enables wastewater utilities to swiftly and cost-effectively reduce various pollutants. Through the use of Edge Control's digital solutions, operators managing conventional activated sludge (CAS) plants can enhance asset management and monitoring, improve nutrient removal, reduce energy consumption, and minimize operational costs. This emphasis on technological innovation is expected to significantly influence the growth and development of the water-softening systems market.
Major players in the water softening systems market are strategically engaging in partnerships and collaborations as part of their market sustainability strategies. These collaborations involve mutually beneficial relationships between two or more organizations aimed at achieving specific business objectives or goals. An illustrative example occurred in March 2021 when Kinetico Incorporated, a US-based manufacturer specializing in quality water systems, forged a partnership with Mike Holmes, a professional builder, contractor, and television host. This strategic collaboration integrates Kinetico's range of water treatment systems, including water softeners, drinking water systems, and specialty filters. The primary goal of this partnership is to enhance awareness regarding the importance of water analysis and diagnosis by water professionals. It also aims to provide homeowners with comprehensive whole-home water treatment systems, ensuring improved water quality for various domestic uses such as drinking, bathing, and laundry.
In a notable development in August 2021, BDT Capital Partners, a US-based financial institution, successfully acquired Culligan International for an undisclosed sum. This strategic acquisition aligns with BDT Capital Partners' overarching strategy of identifying and investing in premier businesses with top-tier management teams. Culligan International, a US-based water treatment company renowned for manufacturing water softening systems and related products, stands as a pivotal addition to BDT Capital Partners' investment portfolio.
Major companies operating in the water softening systems market report are EcoWater Systems LLC, Kinetico Incorporated, Hydroflux Pty Ltd., Envicare Technologies Pvt. Ltd., Wychwood Water Systems Ltd., Harvey Water Softeners Ltd., Pelican Water Systems, BWT AG, Marlo Incorporated, Monarch Water Ltd., Watts Water Technologies Inc., Feedwater Limited, Qingdao Haier Co. Ltd., Dwater Limited, Culligan International Company, Water-Right Inc., Canature Environmental Products Co. Ltd., A.O. Smith Corporation, 3M Company, General Electric Company, Whirlpool Corporation, COWAY Co. Ltd., LG Electronics Inc., Panasonic Corporation, Samsung Electronics Co. Ltd., Unilever N.V., Procter & Gamble Co., Kao Corporation, Colgate-Palmolive Company, Church & Dwight Co. Inc., Henkel AG & Co. KGaA, Reckitt Benckiser Group plc, Clorox Company, Ecolab Inc., Dow Chemical Company, BASF SE, Solvay SA, Akzo Nobel N.V.
North America was the largest region in the water softening systems market in 2023. The regions covered in the water softening systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the water softening systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The water softening systems market consists of sales of ion exchange water softeners, dual-tank water softeners, and other types. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.