SAN ANTONIO, TX, UNITED STATES, September 20, 2023 - According to a recent analysis conducted by Verify Markets, the Taiwan Residential Water Treatment Market is in a phase of steady expansion. The market has now surpassed a value of $340.0 million and is anticipated to exceed $520.0 million in revenue over the projected period. The market is expected to grow over a CAGR of 6.0 percent during the forecast period.
Competitive factors in the market include price sensitivity, e-commerce, and participation in trade exhibitions. A significant number of Taiwanese consumers are keenly attuned to pricing and actively seek out bargains and discounts when making purchasing decisions. Consequently, many brands in Taiwan roll out promotions and sales events throughout the year to entice customers and enhance sales. Notable among these are the Single's Day Sale and Double 11, both observed on November 11th, which have gained popularity not only in Taiwan, but also in other parts of the world. Overall, these online sales events have entrenched themselves as integral elements of the Taiwanese shopping landscape, eagerly anticipated by consumers as opportunities to save money and acquire desired products.
Furthermore, the inclination towards compact and customizable water purifiers in Taiwan mirrors the evolving preferences and needs of consumers. With a growing focus on health and environmental consciousness, the demand for high-quality water purifiers that offer convenience and user-friendliness is expected to continue its upward trajectory.
To cater to user needs, water purifier brands are integrating digital displays into their products, providing users with easy access to crucial information about the purifier's performance and water quality. These displays offer advanced functionalities like real-time monitoring, alerts for maintenance or filter replacement, and customizable settings. Numerous companies are also committed to offering products that conserve water and energy, aligning with their dedication to sustainable and eco-friendly practices. Through the promotion of water and energy efficiency, these companies aim to curtail waste and reduce the environmental footprint of their products.
In terms of sales, systems falling within the $300 USD to $600 USD price range hold a substantial share of revenue in the residential water treatment market. Popular technologies in Taiwan include carbon and ionizers.
Key market players include Panasonic Corporation, The 3M Company, Pentair Plc (Everpure), Taiwan Sakura Corporation, Brita, Chanson Water Co., and others.
The Taiwan Residential Water Treatment Market report is segmented by POU systems, pitchers, and replacement filters. The study is based on data from 2022, with forecasts provided until 2029. The report encompasses various market dynamics such as growth drivers, constraints, market revenues and forecasts, technology trends, and a competitive landscape assessment.
A copy of the Taiwan Residential Water Treatment Market research report can be obtained at www.verifymarkets.com. Follow us for more updates on Twitter @verify_markets and LinkedIn.
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