Smart Water Softeners Market Size, Share, Trends and Future Scope Forecast 2022-2030

Description

The global smart water softeners market size was valued at USD 408.1 million in 2020 and is projected to reach USD 1,151.7 million by 2027, growing at a CAGR of 16.00% from 2020 to 2027. A smart water softener is a revolutionary water treatment technology that generally treats hard water and converts it into soft water. Hard water is a type of water that consists of a high concentration of minerals such as calcium ions, magnesium ions, and other dissolved metals. In contrast, soft water is free from such minerals and is found in clean natural resources. The smart water softener is used to make the water free from calcium and magnesium ions by the process of ion exchange. In 2019, North America accounted for nearly 41.80% share of the smart water softeners market. The growth in value sales for smart water softeners is attributed to increased consumer understanding of health, cleaning, and household use benefits of this technology, which positively impact water softeners sales across North America. Growing environmental apprehensions are encouraging customers, manufacturers, and the government to look for nature-friendly and sustainable products, which is anticipated to fuel the demand for these products.

Manufacturers are developing technologically advanced softening systems, which help to reduce wastage. These systems help improve efficiency by lowering sodium & chloride content by making it suitable for all end-use applications in the residential and institutional sectors, which is likely to have a positive outlook on smart water softeners' market share. Innovation and technology have provided advanced devices in the smart water softeners market to improve the well-being and living standards of the population. Automation and advancement in the home essentials have created an impact on the minds of the customer.

A smart water softener has presented an improved method for the treatment of water used commercially and residentially. The growing urban population and demand for advanced technology have offered an opportunity for market growth. Hard water, which is generally supplied for residential & commercial use, has been proven to damage home appliances and create crucial problems in industrial utilization. The use of hard water for daily activities has also harmed the skin with conditions such as eczema, acne, and dermatitis. It has been proven to cause an effect on the quality of washed clothes due to the presence of harsh minerals. Therefore, awareness among consumers has led to an increase in the demand for smart water softeners.

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Global Smart Water Softeners Market Dynamics

Drivers: Promotion of health development through safe water by WHO

In developing countries, preventable water-related disease blights the lives of consumers. Diseases resulting from bad hygiene rank among the leading causes of ill-health. Health provides an effective gateway for development and poverty alleviation. Improving water hygiene through soft water is a powerful tool that individuals, communities, and households can protect their health. Safe water supply and adequate sanitation to protect health are among the fundamental human rights. Ensuring the availability of soft water would contribute immeasurably to health and help in tackling the ill effects caused by hard water. Therefore, promoting water hygiene and creating awareness among consumers by organizations, such as the World Health Organization (WHO), further escalate the smart water softeners market growth. According to WHO, 785 million people lack even the basic drinking-water service, including 144 million people dependent on surface water. Globally, at least 2 billion people use a drinking water source contaminated with feces. Thus, the scarcity of soft drinking water across the globe has promoted the growth of intelligent water softener products.

Restraints: Presence of alternative water treatment methods

Several water treatment methods that employ simple, low-cost technology are available. These methods include straining, aeration, storage, settlement, disinfection by boiling, chemicals, solar radiation, filtration, coagulation and flocculation, and desalination. Aeration can be accomplished by vigorous shaking in a vessel part full of water or allowing water to trickle down through one or more perforated trays containing small stones. Aeration increases the air content of water; removes volatile substances such as hydrogen sulfide, which affects odor and taste; and oxidizes iron or manganese to form precipitates, which can be removed by settlement or filtration. Therefore, the presence of alternate and cheap technology hinders the growth of the smart water softeners market across the globe.

Opportunities: Opportunities in the unpenetrated and underpenetrated developing countries

Emerged economies serve as a potential market for smart water softeners as they are untapped. Non-member nations of the Organization for Economic Co-operation and Development (OECD) comprise more than 80% of the global population yet consume less compared to the rest of the world. Countries in the Asia-Pacific and LAMEA have witnessed substantial economic growth over the past few years, resulting in a rise in working people. This has led to increasing the purchasing power of consumers, thus increasing sales of smart water softeners. Smart water softeners also have water-efficient technology to tap water and salt consumption, thus helping the regeneration cycles accordingly to become more efficient. This increases production efficiency and exhibits a higher growth rate, especially in emerging countries of Asia-Pacific and LAMEA.

The emerging economies are estimated to constitute more than 60% of today's global population of the middle class by 2020. Considering the pace of change, in China, around 3 million households had a disposable income of about USD 10,000 in 2,000, which increased to 60 million in 2012. This number is expected to exceed 230 million by 2020. Therefore, an increase in the middle-class population is expected to boost the demand for smart water softeners, thereby augmenting the market's growth.

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Scope of the Report

The study categorizes the smart water softeners market based on product type, distribution channel, grain capacity, end user, and regions.

By Product Type Outlook (Sales, 2017-2027, USD Million)

• Wall-mounted
• Floor

By Grain Capacity Outlook (Sales, 2017-2027, USD Million)

• Up to 40,000
• Up to 60,000
• Up to 80,000

By Distribution Channel Outlook (Sales, 2017-2027, USD Million)

• Online
• Offline

By End User Outlook (Sales, 2017-2027, USD Million)

• Residential
• Institute
• Commercial
• Industrial

By Region Outlook (Sales, 2017-2027, USD Million)

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

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Wall Mounted type is estimated to be the fastest-growing segment during the forecast period

Based on product type, the market is bifurcated into wall-mounted and floor. The wall-mounted segment is the fastest segment of smart water softeners, registering a CAGR of 16.50% during the forecast period. Water softeners that are mounted on walls are studied under the wall-mounted segment. Wall-mounted water softeners usually save space in small and compact houses; hence, consumers prefer common space.

The growing number of urban houses with compact space is expected to increase the demand for wall-mounted water softeners. Hard water can have detrimental effects on human health. The salts present in this particular kind of water easily result in the development of kidney stones, which is a severe health issue. This has resulted in high demand for water softeners from both commercials as well as residential buildings.

Asia Pacific accounts for the highest CAGR during the forecast period in the smart water softeners market

Based on region, the global smart water softeners market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia-Pacific is the fastest-growing region, registering a CAGR of 19.30% during the forecast period and a market revenue share of 22.71% of smart water softeners in 2020. The Asia-Pacific smart water softeners market is studied across China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The need for municipal water treatment has increased with accelerated urbanization to meet the increasing demand for drinking water and sanitation facilities. The most significant driving force behind the Asia-Pacific smart water softener market is increasing water consumption.

The water softener market is also driven by an increase in industrial activities and a rising population. Alternative treatment solutions are anticipated to obstruct the growth of the market. Market players in emerging economies, such as India and Japan, are expected to have more significant opportunities to develop water softener businesses for lucrative growth possibilities for the water softener market. In India, water purifying manufacturers have manufactured water softeners to a considerable degree that have a beneficial impact on the share of the APAC water softener market, taking into consideration the growing environmental issues concerning purified water. The rise in purchasing power of the Asia-Pacific population and an increase in health awareness among consumers has further escalated the market growth.

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Key Market Players

The global smart water softeners market is fragmented into significant players and local, small, and mid-sized manufacturers. The key companies profiled in the smart water softeners industry include A.O Smith, 3M, Culligan, EcoWater System, Pentair, Panasonic Corporation, Whirlpool Corporation, Coway, Kenmore, and GE Electric. These manufacturers have generated the maximum market share in 2020. These market players are adopting growth strategies to strengthen their position in the market. Product launches and partnerships are the key growth strategies adopted by different key players in the market.

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