Water Filters Market – Opportunities And Challenges

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PUNE, India, 2019-Dec-06 — /EPR Network/ —  The report Water Filters Market by Media Type (Single & Dual Phase, Multimedia, Cartridge), End-Use Industry (Municipal, Industrial (Oil & Gas, Chemicals & Petrochemicals, Food & Beverages, and Pharmaceuticals), and Region – Global Forecast to 2023″ gives a comprehensive insight into the key developments and future revenue pockets pertaining to the water filters industry and explicates the current regulatory framework that can influence the same. According to it, the global water filters market size is expected to grow at a 6.3% CAGR (Compound annual growth rate) until 2023, when the total revenue will account for USD 14.7 billion. This is a noteworthy growth considering the fact that the market yielded USD 10.8 billion in 2018.

Browse 86 market data Tables and 66 Figures spread through 168 Pages and in-depth TOC on “Water Filters Market”

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That said, the significant contributors to this steady growth rate include the continually growing oil & gas, food & beverages, chemicals & petrochemicals, and pharmaceutical end-user industries. Apart from that, urbanization, modernization, population explosion increased purchasing power, and water pollution continues to be the key driving factors for the increasing need for water filters. This report further illustrates the trends in the water filters market and what products will likely cannibalize the existing markets.

Single & dual-phase media segment is heading towards success 

As projected, the single & dual phase media type filter is expected to grow at a swift rate midst of the forecast period in the global water filters market. The prominence of single & dual phase media type segments can be inferred from the fact that demands for rendering high-quality water are continuously increasing. This is principally due to the rapid urbanization and rising water pollution, which, as expected, presents lucrative opportunities for the water filter manufacturing market.

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While there are numerous media types in the market such as a cartridge, cloth, ceramic, and stainless steel, it is a single & dual phase media segment that is preferred ideally for pre-filtration processes of wastewater. Moreover, the latter suits the processing of a tremendous amount of wastewater and its reuse.

Food & beverage end-user industry is expected to register the highest CAGR

Water is used abundantly as a primary resource in various sectors. For this exact reason, these industries are anticipated to switch to water filters in the coming days. With that being said, the report details that food & beverage and chemicals & petrochemicals industry will most likely record the highest CAGR during the forecast period.

Water usage is segregated into municipal and industrial utilization, where the latter is the major contributing factor in the usage of water, and rightly so, for industries require a large amount of water to manufacture products. The principal industrial domains, which use water extensively, include oil & gas, food & beverages, chemicals & petrochemicals, and pharmaceutical. Out of these, the food & beverage end-user industry is expected to register the highest CAGR concerning the water filters market.

Urbanization, modernization, and purchasing power are the key drivers for water filters industry in the Asia Pacific

Besides, the report covers the analysis of Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Out of these regions, Asia Pacific complies well with steady and continual growth courtesy of rapid urbanization, modernization, increasing pollution, and population explosion.

In addition to that, the major driving factor for the growth of the water filters market in the region corresponds to the potentially stronger purchasing power of the consumers. No doubt, Asia has a significant impact on the global resource consumption rate, something that justifies the rate of growth of industries in this region.

Most of the organizations have established their businesses in this Asia Pacific, for they have recognized the value this region holds in terms of growth. A similar response with regard to the water filters market is projected, which will, undoubtedly, create innumerable opportunities for the businesses to prosper even further.

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