The world is facing an unexpected change and many of the industries are experiencing thought provoking situation due to the COVID-19 pandemic. The COVID-19 outbreak has positively impacted the RO water treatment system component market. The world health organization (WHO), as part of integrated public health policy, has suggested to maintain the water supplies safe. Also, water should be treat in well-managed and well-designed water treatment systems that utilize disinfection and filtration methods to inactivate the coronavirus. Thereby, most of the manufacturers are focusing on enhancement of RO water treatment systems, resulting in reduction of potential risk and elimination of the contaminants in the water.
Moreover, there have been growing government initiatives to support the business during the COVID-19 pandemic. For example, government of UK has postponed the water & sewerage bills for industries and non-domestic consumers up to July 2020 to help the organizations. During this coronavirus crisis situation, we are helping our clients in understanding the impact of COVID-19 on the RO water treatment system component market.
According to a new report published by Research Dive, the global RO water treatment system component market is anticipated to generate a revenue of $13,687.3 million by 2026, at a CAGR of 17.0% in the forecast time from 2019 to 2026.
The global market segmentation has been done on the basis of component, end use and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market. As per our analysts, increasing awareness on consumption of contaminated water is significantly driving the growth of the market. However, huge installation costs required for RO systems due to the presence of several components are expected to hinder the RO water treatment system components market growth.
RO Membrane Module Segment has Dominant Market Share
Based on component, the overall market is segmented into cartridge pre-filters, RO pumps, RO membrane modules, pressure vessels and ancillary components. Among these, RO membrane modules component dominated the market in the year 2018 and is expected to register for $3,764.0 million in 2026. Membrane model is a key component in the RO treatment systems. In addition, many researchers are emphasizing on efforts to design novel membrane modules to minimize fouling and scaling effect on membranes, which will accelerate the growth of the market in the projected time.
Residential End Use Will Grow at a Significant Rate throughout the Forecast Years
On the basis of end use, the RO water treatment system component market is classified into residential and non-residential. The market for residential will witness to rise at a faster rate of 17.9% CAGR and is predicted to register for $6,980.5 million till the end of 2026. Rapidly increasing urban populace owing to urbanization is generating huge quantities of wastewater from residential areas, which is expected to drive the need of RO treatment processes; this factor will fuel the market size in the forecast time. Non-residential end use segment accounted for an evident market size and is projected to experience considerable growth during the forecast time.
Regional Outlook and Major Market Players
North America market has dominated the global market share, which was approximately 32.0% in previous years and is estimated to reach up to $4,106.2 million till 2026. This dominance is attributed to the presence of well-organized water treatment processes in North America. Asia-Pacific RO water treatment system component market will experience a noteworthy growth and projected to generate a revenue of $3,545.0 million by the end of 2026, at a CAGR of 17.5%. This expected rise in the Asia-Pacific market is majorly due to growing shortage of drinking water owing to increasing population across Asia-Pacific, and this aspect is predicted to boost the market growth in the projected time.
The most prominent players in the global RO water treatment system component market include MICRODYN-NADIR, LG Chem., TORAY INDUSTRIES, INC., LANXESS, Hydranautics – A Nitto Group Company, membranium, AXEON, Koch Membrane Systems, Inc., TOYOBO CO., LTD, Dow and Uniqflux Membranes LLP.
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