Water Dispenser Market Revenue To Cross $3.26 Billion By 2025, Driven By Easy Usage, Installation Process And Minimal Maintenance Costs | Grand View Research, Inc.
Water Dispenser Industry Overview
The global water dispenser market size was valued at USD 1.95 billion in 2018 and is expected to reach USD 3.26 billion by 2025, registering a CAGR of 7.6% during the forecast period.
Some of the factors driving the product demand include portability, easy usage and installation process, and minimal maintenance costs. Drinking water scarcity in several regions requires robust sources to meet the rising demand for safe drinking water leading to increased product sales, thereby augmenting the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Water Dispenser Market
Rising awareness regarding the availability of energy-efficient products has also increased industry growth. For instance, in 2017, Q&C water coolers introduced an energy-efficient dispenser with smart hot and cold type, which provides 95% energy efficiency. Moreover, initiatives undertaken by various governments have led to growth in the market.
Promotional campaigns by the leading manufacturers also helps in driving the market. Low maintenance requirements along with after-sales services provided by manufacturers also contribute to the product demand. In addition, availability of a variety of products, such as top load and wall-mounted, with direct plumbing features and simple cleaning processes will boost the demand further.
On the other hand, frequent replacement of product parts or components along with additional expenses during peak summertime may have a negative impact on the market growth. However, increased purchasing power of consumers and health concerns due to rising water pollution levels will support the product demand.
Water Dispenser Market Segmentation
Based on the Product Insights, the market is segmented into Bottled, And Bottle-Less.
- The bottled product segment in the market accounted for the largest market share of more than 68% in 2018 and is projected to remain dominant throughout the forecast years.
- The bottle-less product segment is projected to witness the fastest CAGR of 8.61% from 2019 to 2025.
Based on the Application Insights, the market is segmented into Residential and Commercial.
- Commercial application segment led the global market in 2018 accounting for the largest share. The segment is driven by rise in demand for continuous clean water supply in commercial spaces.
- Residential application segment is expected to be the fastest-growing segment from 2019 to 2025. The growth is attributed to the increasing usage of water purification products in the residential sector, especially in developing countries like China and India, due to the absence of fresh and clean water sources.
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
- North America is estimated to be the largest regional market over the forecast period due to high demand for advanced home appliances in countries, such as the U.S. and Canada.
- Asia Pacific is expected to have the highest CAGR of 9.84% from 2019 to 2025 on account of the rising demand for water purification sources and appliances in countries, such as China and India.
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- Capsule Coffee Machine Market – The global capsule coffee machine market size was valued at USD 1,278.1 million in 2018. The market is majorly driven by the prevalent usage of single-serve coffee, especially in the countries of North America and Europe.
- Residential Air Purifier Market – The global residential air purifier market size was valued at USD 3.9 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030.
Key Companies Profile:
The market is identified by several strategic activities, such as acquisitions, mergers, product innovations, marketing campaigns, and capacity expansions, initiated by the key manufacturers.
Some prominent players in the global water dispenser market include
- Whirlpool Corp.
- Clover Co. Ltd.
- Oasis International, Inc.
- Glacial Home
- Primo Water Corp.
- Honeywell International, Inc.
- Emerson Electric Co.
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