April 4, 2020

Water Dispenser Market Is Driven By The Ever-Increasing Worldwide Commercial Construction Sector

The global market for water dispensers is set to exhibit CAGR at 8.1% during the forecast period from 2018 to 2026. Water dispensers offer several advantages over conventional water and water purifiers. The installation of water dispensers eliminates the need for any maintenance required in the case of purifiers. In addition, they are small, portable and therefore preferably purifiers. As a result of environmental concerns related to bottled water, point-of-use dispensers have emerged to cater for all water needs in commercial as well as residential areas. In addition, in terms of initial and maintenance costs, water dispensers are substantially cost-effective compared to high-tech water purifiers. Over time, direct water dispensers with cooling and heating functions have emerged, making them more convenient and useful.

The market is driven by the ever-increasing commercial construction sector in the world. Asia Pacific has already become a major hub for the IT sector and the various service industries. This has resulted in a paradigm shift in the number of corporate offices in the region. However, entertainment and public places such as shopping malls, transportation spaces and others have also experienced huge growth worldwide. These also add up to the water dispenser application area. The benefits of water dispensers over purifiers and continuous brand innovation are another prominent factor driving market growth. Today, water dispensers are equipped with refrigerator section that also acts as an additional functionality.

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Water dispensers offer a number of advantages over conventional water units and water purifiers. Installing water dispensers eliminates the need in the case of purifiers for any maintenance required. They are also small in size, portable, and therefore make them preferable to purifiers. Point-of-use dispensers have emerged as a boon due to environmental concerns related to bottled water, catering for all water needs for commercial as well as residential spaces. Furthermore, in terms of initial and maintenance costs, water dispensers are substantially cost-effective compared to high-tech water purifiers. With cooling and heating functions, direct water dispensers have developed over time, making them more convenient and useful.

The market is driven by the ever-increasing worldwide commercial construction sector. Asia Pacific has already emerged as a major hub for IT and different service industries. This has resulted in a paradigm shift in the number of regional corporate offices. In addition, entertainment and public places, such as shopping malls, transport spaces and others, have seen huge growth worldwide. They also add to the area of application of the water dispensers. The benefits of water dispensers over purifiers and continuous product advancement are another key factor supporting market growth. Nowadays, the water dispensers are equipped with a refrigerator section which acts as an added functionality.

The Asia Pacific is projected to be the fastest-growing regional market in the forecast period. This growth can be attributed to technological and product innovations and the increasing need for safe drinking water as a result of the growing population of the region. The increase in sales of bottled water due to the deterioration of water quality in several APAC countries will further boost the market growth. Therefore, an increasing number of domestic producers are likely to contribute to the market growth due to the presence of a large consumer base and demand.

Major companies in the market are focusing on new product launches, capacity expansion, and technological innovation to estimate the existing and future demand patterns from upcoming product segments. Some of the prominent companies in the global market are Whirlpool Corp.; Clover Co. Ltd.; Oasis International, Inc.; Glacial Home; Primo Water Corp.; Honeywell International, Inc.; and Emersion Electric Co.

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