MIDDLE EAST RESIDENTIAL WATER TREATMENT DEVICES MARKET ANALYSIS

Middle East residential water treatment devices market is projected to reach around US$ 1,236.7 Million by 2030, in terms of revenue, exhibiting a CAGR of 7.4% during the forecast period (2023-2030).

Middle East Residential Water Treatment Devices Market: Drivers

Rapid growth in the population of Middle East

Increasing population in the Middle East is primarily fueling the market growth of residential water treatment devices. According to the Coherent Market Insights analysis, the total population of the Middle East & Africa is approximately 346 million and is expected to grow at a rate of 2% per annum. Moreover, increasing mass migration to urban areas is further expected to raise demand for water purifiers, thereby propelling the market growth over the forecast timeframe.

Increasing deterioration of the water quality

The region has witnessed a decrease in water quality as a result of extensive industrialization, resulting in a decrease in water availability. According to Coherent Market insights, the estimated water availability in those counties is only 1,200 cubic meters per capita per year, which is significantly lower than the worldwide average, which is 7,000 cubic meters per person per year.

Middle East Residential Water Treatment Devices Market: Restraints

High cost of water purification system

The high price of water purification equipment especially that of the RO and UV process is expected to hamper the market growth of Middle East residential water treatment equipment. Limited use of the product due to the scarcity of water in the region is projected to restrict market growth. Moreover, the lack of product availability of the product as the market is highly untapped is expected to hamper the market growth of the residential water treatment equipment.

Middle East Residential Water Treatment Devices Market: Opportunity

Increase in cases of water prone diseases

Growing cases of water-borne diseases such as diarrhea, liver damage, a digestive disorder, etc. are expected to open up new avenues to the market of Middle East residential water treatment equipment. Moreover, increasing domestic production of the water purifier in the especially UAE and the Kingdom of Saudi Arabia is also projected to augment the market growth of the Middle East residential water treatment equipment over the forecast period.

Middle East Residential Water Treatment Devices Market: Trends

Increase in trend of online shopping for home appliances

The growing trend of online shopping for home appliances due to convenience and affordable rates are expected to foster the market growth of the Middle East residential water treatment equipment. According to the Coherent Market Insights analysis, nearly over 60% of consumers in GCC countries use the Internet to conduct research on products and services; whereas approximately 11 % of online shoppers prefer buying home appliances online.

Key players focus on more collaborations

Partnership and agreements among major players for market expansion is a major trend and this is projected to accelerate the market growth of the Middle East residential water treatment equipment. For instance, water purifier and small appliances maker, Kent RO Systems Limited announced its entry into the Middle East by partnering with LuLu Hypermarkets. Such partnerships among major players will favor market growth over the forecast period.

Middle East Residential Water Treatment Devices Market: Key Developments

In January 2022, The "Best Life Solution Company," Coway Co., Ltd., has been showcasing its most recent home health appliance innovations at CES 2022. The company's beds, water purifiers, air purifiers, and bidets were regarded as some of the most innovative products on display at the event.

In August 2021, The Environmental, Social, and Governance ("ESG") committee has been established by Coway Co., Ltd., "The Best Life Solution Company," under the oversight of the Board of Directors.

In January 2021, the new Dr. AquaguardTM with AyurfreshTM technology is offered to customers by Eureka Forbes, the largest water purifier brand in India, in order to give regular drinking water a revitalizing flavor and aroma.

Middle East Residential Water Treatment Devices Market: Regional Analysis

Figure 1. Middle East Residential Water Treatment Devices Market Share (%), By Countries, 2022

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Regionally, Saudi Arabia dominated the Middle East residential water treatment devices market in terms of revenue, in 2022, followed by UAE and Qatar, respectively.

Middle East Residential Water Treatment Devices Market: Segmentation

The residential water treatment devices market is segmented based on device type. Further, it is divided on the basis of filtration devices: water tap faucet, filtration faucet, & others and on the basis of purification devices: reverse osmosis, ultra violet, & gravity.

Figure 2. Middle East Residential Water Treatment Devices Market Share (%), By Filtration Type, 2022

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On the basis of filtration type, in 2022, the filtration faucet accounted for the largest market share of 67% in terms of value, followed by the water tap faucet.

Middle East Residential Water Treatment Devices Market: Impact of Coronavirus (COVID-19) Pandemic

Following COVID-19, the market for residential water treatment devices has demonstrated that there is a significant growth opportunity due to the growing awareness of the value of clean water among a sizable population. Water-borne diseases like cholera and E. coli are becoming more common, which emphasizes the importance of clean water. Following the pandemic, people began to give their health more thought, which led to an increase in business.

Middle East Residential Water Treatment Devices Market: Key Companies

Key Companies operating in the Middle East residential water treatment devices market are KENT RO Systems Ltd., Eureka Forbes, Britannic Water Treatment Company W.L.L, Panasonic Corporation, LG Electronics, Pure It L.L.C, Waterlife, Coolpex Pure Water System, Ultra Tec Water, Water Life Technology LLC, Clearsource SARL and AQUA PRO UAE.

*Definition: Residential water treatment equipment effectively removes the unwanted particles present in the water and makes it suitable for reuse. They are gaining tremendous demand across various developing countries due to the scarcity of water. These devices can easily remove undesirable chemicals suspended soils and biological contaminants.