Published Date: 28-Jul-22
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According to a new report, published by KBV research, The Global Water Dispenser Market size is expected to reach $3.7 billion by 2028, rising at a market growth of 8.5% CAGR during the forecast period.
The Commercial segment acquired maximum revenue share in the Global Water Dispenser Market by Application in 2021, thereby, achieving a market value of $1.81 billion by 2028. The industry is being driven by an increase in demand for a constant supply of clean water in business settings. In addition, the lack of direct water sources in several commercial buildings will drive up product demand in this market.
The Bottle-less segment is showcasing a CAGR of 10.3% during (2022 - 2028). It is because such solutions eliminate the need to load and unload bottles of water on the equipment, which is a major element driving the segment's growth. These goods are connected directly to water pipelines and can therefore be utilized without the need for water bottles continually.
The Online segment has shown growth rate of 10.4% during (2022 - 2028). Due to the availability of a large choice of products, greater discounts, and simplicity of delivery, consumers in the market prefer to purchase dispensers through online sales channels. These advantages have led to a shift in customer purchasing preferences from brick-and-mortar to online businesses, and this trend is likely to continue throughout the forecast period.
The North America market dominated the Global Water Dispenser Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.24 billion by 2028. The Europe market is estimated to grow at a CAGR of 8% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 9% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/water-dispenser-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Honeywell International, Inc., Whirlpool Corporation, Emerson Electric Co., Clover Corporation Limited, Primo Water Corporation, Midea Group Co., Ltd., A. O. Smith Corporation, Culligan International Company (Clayton, Dubilier & Rice Ltd.), and Waterlogic Holdings Ltd.
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