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.
Water dispensers offer a number of advantages over traditional water systems and water purifiers. Installing water dispensers in the case of purifiers removes the need for any maintenance required. These are also small in size, compact, making them favored over purifiers. Point-of-use dispensers have emerged as a boon due to environmental issues related to bottled water, providing for all water needs for industrial as well as residential spaces. Therefore, in terms of initial and maintenance costs, water dispensers are relatively cost-effective 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 strongly driven by the ever-increasing commercial construction sector worldwide. Asia Pacific has already become a major hub for the IT sector and various service industries. This led to a paradigm shift in the number of corporate offices in the region. In addition, entertainment and public places, such as shopping malls, transport spaces and others, have seen tremendous growth globally. These add up to the area of application of the water dispensers. Another important factor supporting market growth is the benefits of water dispensers over purifiers and continuous product advancement.Today, water dispensers are equipped with refrigerator section which further acts as an added functionality.
The total market for water dispensers is segmented on the basis of water source, product type, end-user and geography. Depending on the water source, the bottled water dispensers segment is leading the industry. In 2017, the segment managed almost 72% of the total market revenue generated worldwide. The bottled water dispensers are compact, easy to operate and comfortable compared to the piped-in water dispensers. Subsequently, the segment would continue to lead 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.
The market for water dispensers is quite fragmented in nature due to the presence of a large number of regional and international players. The majority of the major players operate in the purifier and dispenser segments in order to maintain the consumer base and their position. One of the main strategies adopted by the players is to emphasize items with added functionality and esthetic design.
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.