Global RO Water Treatment System Components Industry at
New York, USA, November 24, 2021 (GLOBE NEWSWIRE) – A final report on the global RO water treatment system components market published by Research Dive sheds light on the impact of the COVID-19 pandemic on the current and future scope of the market. This report is a useful study for stakeholders, investors, market players and new entrants seeking comprehensive information on the impact of COVID-19 on market growth.
Highlights of the report:
The COVID-19 pandemic has positively impacted the growth of the global RO water treatment system components market in 2020. According to the report, the global RO water treatment system components market has generated $ 4,200.0 million in 2018 and is estimated to exceed $ 13,687.3 million, amounting to a 17.0% CAGR by 2026. In the current situation, the market size has increased due to the growing need to purify water bodies to curb the spread of the virus.
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Factors Driving Market Growth During COVID-19 Crisis:
The World Health Organization (WHO) has advised keeping the water supply safe, as transmission of the COVID-19 virus can easily pass through drinking water as well as sewage. This is driving the growth of the global RO water treatment system components market. In addition, several government institutions and nonprofits around the world are undertaking thoughtful initiatives to raise awareness about maintaining water safety and hygiene during the pandemic. These factors greatly contribute to the growth of the global market.
Current market face due to COVID-19:
Before the outbreak of the pandemic, the market was estimated at $ 4,941.1 million in 2020. In the current situation, the market size has grown to reach $ 6,299 million in 2020.
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The increase in market growth is mainly due to the increasing implementation of RO water treatment systems in the residential sector during this time of pandemic. Market players are taking significant initiatives to develop advanced RO water treatment systems, which is expected to drive the market growth in the coming years.
Residential end use will increase at a significant rate throughout the forecast years
Based on the end use, the RO Water Treatment System Components Market is classified as residential and non-residential. The residential market will experience a faster increase of 17.9% CAGR and is expected to reach $ 6,980.5 million through the end of 2026. The rapid increase in the urban population due to urbanization generates huge amounts of wastewater from residential areas, which is expected to stimulate the need for RO treatment process; this factor will fuel the market size in the forecast time. The non-residential end-use segment represented an obvious market size and is expected to experience significant growth during the forecast period.
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Future scope of the market:
According to the report, the global RO water treatment system components market is expected to experience continuous growth even after the end of the COVID-19 pandemic, owing to the growth of partnerships, investments in R&D activities and new developments in the market. Some of the main players, such as
- LG Chem.
- Uniqflux Membranes LLP.
- TORAY INDUSTRIES, INC.
- Hydranautics – A company of the Nitto group
- Koch Membrane Systems, Inc.
- TOYOBO CO., LTD
- Dow, and others,
are expected to offer innovative developments and pave the way for lucrative opportunities for market growth in the years to come.
For example, in August 2020, DuPont Water Solutions, a global leader in water purification and separation technologies, introduced FilmTec ™ residential reverse osmosis (RO) elements to Amazon in collaboration with Onsitego, the leading company Indian customer service department for gadgets, personal devices, and small and large appliances.
Besides, the report contains detailed information of major business manufacturers such as SWOT Analysis, Product Portfolio, Financial Status – Learn to Access the Detailed Top Companies Development Strategy Report.
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