Worldwide Water Dispenser Industry to 2027 - Innovation and Feature Enhancement, Surging Demand for Clean Drinking Water and Minimal Maintenance Costs Drives Growth
Dublin, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The "Global Water Dispenser Market By Type, By Product Type, By Distribution Channel, By End Use, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The global water dispenser market is expected to reach USD 1,189.12 Million by 2027F, registering a CAGR of 6.76% during the forecast period.
Primo Water Corporation
Midea Group Co., Ltd.
Honeywell International Inc.
Blue Star Limited.
Avalon Water Coolers
The global water dispenser market is mainly driven by innovation and feature enhancement, surging demand for clean drinking water, and minimal maintenance costs.
The global water dispenser market is one of the fastest-growing markets, especially in the commercial segment of developing economies. The water dispenser is one of those appliances for corporate offices that helps in implementing green policies in their day-to-day operations, as installing a POU system can be an ideal option to avoid plastic water jugs.
Impact of COVID-19
The impact of the COVID-19 pandemic in early 2020 dramatically affected the global water dispenser market. The growth momentum dropped globally in terms of usage frequency and stimulation of new and replacement demand.
Moreover, the pandemic affected the supply chain of the water dispenser industry. Manufacturers were forced to operate with limited resources, labor, raw materials, and time, which, in turn, affected productivity.
The pandemic imposed new standard regulations that further reshaped hygiene and sanitation protocols. People who stayed indoors were more concerned about the safety and quality of food and water intake. Additionally, the online sales of water dispenser systems grew in the second half of 2020, offsetting, to a certain extent, the imbalances caused by offline disruptions.
With the emergence of e-commerce businesses and rising internet penetration rates worldwide, manufacturers now have new ways to reach their customers.
The online sales channel has enabled companies to expand their distribution reach and serve customers in even the most remote areas, supporting the global water dispenser market's growth.
One of the primary drivers of the global water dispenser market is that vendors are also recommended to involve in vertical integration strategies such as water delivery services, offering high-end filtration system & components, installation, repair & maintenance, and rental services to sustain the rising competitive threat in the water dispenser industry. Vendors are also recommended to partner with various government organizations or public municipalities to enhance the adoption levels.
Advancement in Technology Drives the Market Growth
Providing advanced water purification technology in water dispensers is driving the growth of the water dispenser market. The filtered segment offered in the water dispenser consists of filters for water purification before dispensing. It is more common among POU water systems that are directly plumbed into the main water supply and might require pre-treatment before consumption.
Therefore, innovations can be more inclined to dispensers, including various technologies such as contactless operation, sensor-based monitoring & dispensing techniques, etc. Following the pandemic, hands-free dispensing technology is one that can be given higher importance during the forecast period.
Rising Demand From Commercial Sector is Fueling the Market Growth
By adopting water dispensers in extensive commercial facilities, wall-mounted and counter-top versions are gaining traction in gyms, coworking spaces, and government offices. Vendors are also recommended to customize their offerings based on demographic behavior, geography, personal preferences, and foot traffic.
The other segment consists of airports, sports arenas, exhibition halls, museums, and railway stations, where the contribution is niche but more consistent. Rather than revenue, these places are visited by millions of people and can be utilized by vendors as an avenue to promote and engage their water dispensers over the next few years.
Availability of Water at Different Temperature to Push the Demand
Residential users don't need to boil water and wait for it to cool down because the water dispenser offers preferences such as cold, mild, and hot water. Instantly hot water is available from the dispenser, which can also be used to brew tea or coffee.
Because it will be held for extended periods and may be stored in contaminated containers or consumed, boiling water can pose a health concern. After 24 hours, water is said to be stale since it may have accumulated dirt and been exposed to a lot of air. Due to daily consumption of clean, fresh water, residential users using water dispensers enjoy excellent health.
Emergence Of Coworking Spaces Is Fueling The Market Growth
As the coworking model has now become hybrid, it prompted the adoption of user-friendly free-standing and countertop water dispensers. Over the years, POU water dispensers have become essential equipment installed in coworking spaces. Employees are also looking for time-saving solutions that are more advanced and reliable.
Installing water dispensers at every corner of the office floor can reduce labor expenses with the leverage of optimum resource utilization. In the coming years, coworking spaces are ideal hotspots for fully automated and IoT-integrated, sensor-operated water dispensers. However, the scope for bottled water coolers is not so significant owing to the various corporate policies supporting the plastic ban.
In this report, global water dispenser market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Global Water Dispenser Market, By Type:
Global Water Dispenser Market, By Product Type:
Global Water Dispenser Market, By Region:
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/d282ig-water?w=12
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