A GROWING MARKET
JUST COUNT THE WAYS YOU AND YOUR FAMILY USE WATER.
Whether its drinking, cooking, bathing, doing laundry, housecleaning, washing the car or giving the dog a bath, in industrialized countries, the average family of four consumes 250 gallons of water each day.
However, that’s only a small part of the water usage picture. So many of the things that we take for granted, things that make our lives easier, also depend on water—vast quantities of water.
And yet, only 7% of U.S. households have cleaner, softer, healthier treated water. On a global scale, that percentage is even lower.
KEY FINDINGS ON PROJECTED GLOBAL GROWTH
- In terms of value, the North American market is projected to grow from USD $699.4 million in 2014 to $1.4 billion by 2020.
- The water treatment systems (point-of-entry) market is projected to grow at the highest compound annual growth rate of 10.86% in the Asia-Pacific region, between 2015 and 2020.
- In the U.S., filtration technology is projected to grow at the highest compound annual growth rate of 7.40%, in terms of value, from 2015 to 2020.
FIGURE IN ALL THOSE NEW HEALTH MINDED CONSUMERS.
A survey by the Water Quality Association found that three-quarters of Americans don’t believe their household water supply is as safe as it could be. In a recent USA Today/CNN/Gallup Poll, 47 percent of respondents reported they wouldn’t drink water straight from the tap.
Environmental problems have an enormous impact on water quality. Water runoff from industrial plants and farms, acid rain and other forms of pollution have tainted groundwater and surface water supplies in many areas of the world. Population growth, urban and suburban sprawl, and industrial and agricultural expansion continue to stress fresh water supplies.
It all adds up to tremendous opportunity.