The global RO water treatment system components market registered a revenue of nearly $4,200.0 million in 2018 and is anticipated to grow at a 17.0% CAGR, surpassing $13,687.3 million by 2026.
The market has witnessed a significant growth previously, but due to the unexpected COVID-19 outbreak, the market will witness additional growth in 2020, owing to the increasing demand for RO water purifiers. This growth will be majorly driven by the increasing focus from the people to curb the virus transmission, as it majorly transmits through contact. Our analysts have estimated the condition of the RO Water Treatment System Components Market during the COVID-19 outbreak, and have come to the following conclusions.
|Realtime BPS||*Estimated market Size, 2020,
|**Real Time market Size, 2020,
|8.2%||17%||880||USD 4,941.1 Million||USD 6,299 Million|
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
BOOMERS AND DECLINERS
RO systems are designed to treat the wastewater generated from residential and non-residential areas. These systems are helpful to generate clean water and address the growing water scarcity across the world. This scarcity is owing to an increase in individual consumption of water along with rising water pollution due to the rapidly increasing population globally. A growing number of industry verticals owing to swift growth in industrialization, coupled with rising urban population, are generating huge quantities of wastewater. These factors are positively impacting the adoption of RO systems for the treatment of wastewater, across the globe.
The RO water treatment systems consist of several components, and the operational procedures associated with these components are quite complex; this is significantly impacting the installation and maintenance cost of RO systems treatment components. This factor is majorly restraining the growth of the market. Moreover, the technical difficulties associated with scaling or fouling of the RO membranes is also a considerable factor that is expected to limit the market growth soon.
The COVID-19 pandemic has impacted the RO water treatment system component market positively. As per the World Health Organization (WHO) suggestions, the water supplies should be kept safe, as the transmission of coronavirus can easily grow through drinking water and sewage water. This factor is significantly driving the adoption of RO water treatment systems and will impel the market growth during the COVID-19 outbreak. Moreover, many government bodies and non-profit organizations across the globe are taking initiatives to create awareness about water safety and security during this outbreak.
For instance, in recent times, the water quality association (WQA) in the U.S. is working with Shelter-in-Place directives. They have assured that essential services such as water treatment services and product supply will continue business during the COVID-19 pandemic.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
The global RO water treatment system components market will witness significant growth in 2020 and is anticipated to follow the trend until the end of the forecast period. The rapid growth is majorly attributed to the increasing implementation of RO water treatment systems in the residential areas, across the globe during this pandemic crisis. This market is expected to retain its growth even after the control of the pandemic situation. Moreover, scientists are significantly making continuous improvements in RO membrane technologies to develop enhanced membranes and to extra-purify the drinking water to eliminate the virus, and also to overcome the technical issues associated with the membranes such as fouling and scaling.
Rise in the implementation of nanotechnology in the RO membrane systems to manufacture novel membranes for desalination purposes due to shortage of water especially in high populace economies. This aspect will drive the slower growth of the market. For instance, in 2019, a research study by some scientists found that nanotechnology-based RO membranes are exhibiting higher water permeability due to desirable characteristics including better salt rejection, excellent thermal & chemical resistance, and pore structure.
How can we help you?
Our group of skilled analysts provide a solution to help the companies to survive and sustain in this global pandemic. We support companies to make informed decisions based on our findings resulting from the comprehensive study by our qualified team of experts. Our study helps to acquire the following:
- Long-term and Short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on the RO Water Treatment System Components Market , due to the impact on its extended ecosystem
- Understanding the market behaviour pre- and post-Covid-19 pandemic
- Strategic suggestions to overcome the negative impact on your business or turn the positive impact into an opportunity