LONDON--(BUSINESS WIRE)--The global household water softener system market is expected to grow at a CAGR of more than 6% during the period 2018-2022, according to a new market research study by Technavio.
The report categorizes the global household water softener system market by product that includes household salt-based water softener system and household salt-free water softener system. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: technological innovation leading to product premiumization
The incorporation of new and emerging technologies in the manufacturing of water softener systems is one of the basic causes for the premiumization of products. Water softeners with Wi-Fi technology and several other features such as alerts, customized alerts, and automatic adjustment for water usage patterns have been introduced. These products are also coupled with an extended service warranty that adds up to increase the price of water softeners. Therefore, the incorporation of smart and augmented features in these devices provides the vendors an opportunity to increase the selling price of their products, thereby leading to premiumization.
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Market trend: rising adoption of home automation to supplement Wi-Fi enabled water softener systems
The frequent need for a convenient and comfortable lifestyle has led to the development of residential automation systems. Along with home automation systems, smart homes can also keep a check on the security systems, lighting, and entertainment systems in a house. Furthermore, home automation systems also enable monitoring appliances using a controller, which is operated through the internet. Many vendors are also providing home automation systems with remote access through smartphones and other mobile computing devices. Owing to such factors, smart home adoption is increasing across the globe, which increases the adoption of smart home solutions.
According to a senior analyst at Technavio for home, kitchen, and large appliances research, “The demand for electricity has been increasing at a steady rate across the globe. The global demand for energy is expected to rise by around 44% by 2030 and therefore, it has become imperative to reduce energy consumption. Residential buildings and architecture play an important role in the consumption of energy. Home automation systems such as lighting controls and heating, ventilation, and air conditioning controls help in minimizing energy consumption in a residential building by using an automated switching process of general equipment.”
Market challenge: high maintenance and installation costs
The initial cost of installing water softeners is higher than other water treatment appliances and equipment. Maintenance costs associated with water softeners are also relatively high. This eliminates long-term cost benefits, thus making it difficult for retailers to convince users to adopt water heaters. End-users in developing countries also face difficulties with installation and are skeptical of the complexities of operating these products. Hence, the maintenance and installation cost of these devices is a major hurdle for the sales of water softener systems.
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Some of the companies in the global household water softener system market:
- EcoWater Systems
- GENERAL ELECTRIC
- Whirlpool Corporation
- Kinetico Incorporated
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