Steadily Rising Commercial Construction Sector To Drive The Water Dispensers Market
According to a new market research report published by Credence Research “Water Dispensers Market (Water Source – Bottled Water Dispensers, Piped-in Water Dispensers; Product Type – Freestanding, Wall Mounted, Tabletop, Direct Piping, Bottom Mounted; Sales Channel – Retail Stores, Distributors & Wholesalers, Online Retail; End-user – Commercial, Residential, Industrial) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global water dispensers market is set to exhibit CAGR of 8.1% during the forecast period from 2018 to 2026.
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Water dispensers offer several advantages over conventional water units as well as water purifiers. Installing water dispensers eliminate the need for any maintenance required in the case of purifiers. In addition, they are small sized, portable and hence make them preferred over purifiers. Due to environmental concerns related to bottled water, point-of-use dispensers have emerged as a boon, catering all of the water needs for commercial as well as residential spaces. Further, water dispensers are substantially cost-effective, in terms of initial and maintenance costs, as compared to high-tech water purifiers. Over the period of time, direct water dispensers have emerged with cooling and heating functions, making them more convenient and useful.
The market is highly driven by the consistently rising commercial construction sector worldwide. Asia Pacific has already emerged as major hub for IT sector and various service industries. This has led to paradigm shift in the number of corporate offices in the region. In addition, entertainment and public places such as shopping malls, transportation spaces and others too have witnessed immense growth globally. These further add up to the application area of water dispensers. Another prominent factor supporting the market growth is the benefits of water dispensers over purifiers and continual product advancement. Today, water dispensers are equipped with refrigerator section which further acts as an added functionality.
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The overall water dispensers market is segmented based on water source, product type, end-user and geography. Based on the water source, the bottled water dispensers segment leads the market. In 2017, the segment controlled nearly 72% of the total market revenue generated worldwide. Bottled water dispensers are portable, easy to operate and convenient as compared to piped-in water dispensers. Subsequently, the segment would continue leading the market throughout the forecast period. Based on the geography, the market is governed by the Asia Pacific region. China, Japan, India and South Korea are the major contributors in the region owing to their huge commercial spaces sector.
Water dispensers market is quite fragmented in nature due to presence of large number regional as well as international players. Majority of the major players operate in both purifier and dispenser segment in order to maintain the consumer base and their position. One of the major strategies adopted by the players is to emphasize on products with added functionalities and aesthetic designs. Some of the major companies profiled in the report include Alpine Coolers, Angel Springs Ltd., AO Smith Corporation, Aqua Clara, Inc., Blue Star India Ltd., CELLI S.p.A., Clover, Crystal Quest, Culligan International Company, Ebac Water Coolers, Electrolux AB, Haier Group, Honeywell International, Inc., Midea Group, OASIS International, Voltas Ltd., Waterlogic Plc. and Whirlpool Corporation among others.