A growing demand for potable water in the Asia Pacific region will transform the region’s residential water treatment equipment market
A new market research report on the residential water treatment equipment market in the Asia Pacific region by TechNavio reveals an expected growth at a compound annual growth rate (CAGR) of 15.53 percent from 2014-2019.
Constantly depleting water resources and the growing demand for potable water is driving the Residential Water Treatment Equipment Market. There is a huge water demand-supply imbalance, which is expected to drive the need for water desalination in areas where there is an acute shortage of freshwater sources.
“With the persistently depleting water resources, the demand for fresh and pure water is expected to see an upsurge of 50 percent in the next ten years,” says Faisal Ghaus, Vice President of TechNavio.
“To fill this huge gap, it is crucial to save water and treat it properly so as to increase the availability of potable water. This will influence the overall growth of this market.”
Furthermore, the governments of various countries are developing standards and codes for water treatment, which will help industries and manufacturing units conserve water, thus driving the demand for residential water treatment equipment in the next few years.
Governments in the APAC region are also undertaking several initiatives to popularize the recycling of wastewater through effective wastewater treatment methods.