The global water dispenser market was valued at USD 1.93 billion in 2019. The market is projected to expand at a CAGR of 7.5% during the forecast period, 2021 – 2028. The growth of the market is attributed to its easy usage & installation process, minimum maintenance costs, and portability.
A water dispenser is used to dispense hot or cold water. Typically, a water dispenser is fitted to a heating and refrigeration unit. At some places, it is also known as a water cooler. Point of use water dispensers are an updated version of water dispensers, where water supply is attached to the dispensing chamber for automatic filling purposes.
Market Trends, Drivers, Restraints, and Opportunities:
- Growing awareness about the availability of energy-efficient goods drives the market growth.
- Advertising campaigns held by key manufacturers boost the water dispenser market.
- Availability of various products such as wall-mounted, top-loaded, and tabletop with easy cleaning process will fuel the market demand.
- Low maintenance coupled with after-sales service provided by companies fuel the market growth.
- Rising purchasing power of customers and rising awareness about health concerns due to water pollution is anticipated to propel the market.
- Regular replacement of internal components, especially during summers, is expensive. This is expected to hamper the market growth.
Market Segment Insights:
The bottled product segment held more than 65% of the total market revenue share
Based on products, the global water dispenser market is bifurcated into bottled and bottle-less. The bottled segment is anticipated to expand at a rapid pace during the forecast period. Easy installations, low cost, and minimum maintenance are the major factors responsible for the segment growth. Increasing demand for bottled water is boosting the segment.
The bottle less segment is projected to expand at a substantial CAGR of 8.6% during the forecast period. These products do not require constant unloading and loading of water on the machine, which drives the segment. These machines are connected to the water pipelines, thus eliminating the use of water bottles. Bottles less products are majorly used in restaurants and hotels.
The commercial segment is projected to expand at a rapid pace during the forecast period
On the basis of applications, the global water dispenser market is bifurcated into commercial and residential. The commercial segment held a key market share in 2019. Increase in demand for clean water supply in commercial areas is estimated to drive the segment growth. Direct water connection is not available at some commercial buildings. This will fuel the demand for water dispensers in this segment. The residential segment is estimated to grow rapidly during the forecast period. The growth of the segment is attributed to rising usage of water purification products in residential zones, due to absence of clean and fresh water resources, particularly in emerging countries such as India and China. Furthermore, supply of poor quality drinking water in residential zones, due to rise in pollution, is projected to propel the demand for water dispensers in the segment.
The North America region is expected to hold the largest market during the forecast period
In terms of regions, the global water dispenser market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is estimated to expand at a high CAGR during the forecast period, due to rising demand for premium home appliances in developed countries such as Canada and the US. Furthermore, the presence of key manufacturers such as Whirlpool Corp, Emerson Electric, and Honeywell in the region are anticipated to boost the demand, thus driving the market growth. The market in Asia Pacific is estimated to register a CAGR of 9.2% during the forecast period, owing to increasing demand for water purification appliances in developing countries such as India and China. Rise in purchasing power of users in emerging countries of Asia Pacific are expected to fuel the demand in the region. The consumer appliances market in India is estimated to rise at a substantial CAGR during the forecast period. Additionally, many manufacturers are arriving in this region by launching advanced products. This is expected to boost the market in the region.
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