SAN ANTONIO, June 21, 2022 (GLOBE NEWSWIRE) — A new analysis by Verify Markets on the North American Water Dispensing Solutions/Drinking Fountains Market shows the market was valued at $269.5 million USD in 2021 and is expected to grow at a compound annual growth rate (CAGR) of over 5.0 percent from 2021 to 2028. Key market drivers in this market include emphasis on environmentally friendly reusable and refillable bottles, smart products, the COVID-19 pandemic, and rising health consciousness. The key challenges include sustaining a volatile economy and changing regulations, the threat of substitution – convenience offered by bottled water, and poor water quality from deteriorating plumbing infrastructure.
“Water dispensers with antimicrobial surfaces are gaining momentum after the pandemic. Leading players are increasingly emphasizing surface hygiene and containing the growth of microorganisms by incorporating new material technologies in their units,” notes Shilpa Tiku, Chief Research Officer at Verify Markets. Bottle filler units are now the leading type of products sold.
The market is gradually evolving towards smart products. In addition to conventional filter replacement alerts, the latest water dispensing solutions, especially bottle filling stations, are equipped with features such as display depicting number of plastic bottles saved, real-time monitoring for fault detection, and remote monitoring, among others. Leading players in the water dispensing solutions space emphasize sustainability in their marketing communications. Healthy hydration, plastic-free, good for the planet, pet-friendly, and supporting healthy growth in children are some of the key claims being promoted by market players.
Indoor applications made up most sales revenues in 2021. The educational institutes and offices/corporate end user groups together made up 70.0 percent of the revenues and replacement units accounted for over half the sales in 2021. Key players in this market include Elkay Manufacturing Company, Oasis International, Haws Corporation, Murdock Manufacturing, Inc., Most Dependable Fountains, Inc., Filtrine Manufacturing Company, Stern-Williams Products, LLC, and several others.
This report provides an in-depth analysis of the overall North American Water Dispensing Solutions/Drinking Fountains Market. The report captures various market dynamics such market drivers, market restraints, product and design trends, retrofitting, customization, pricing trends, in addition to the following:
- Total Market Size, Growth Rate, and Revenue Forecasts (2021-2028)
- Market Share by Country (U.S. vs. Canada)
- Total Market Share by Company Revenues
- Market Share by Install Location Revenues (Indoor vs. Outdoor)
- Market Share by Company Revenues (Indoor Market)
- Market Share by Company Revenues (Outdoor Market)
- Market Share by Revenues by Product Type (Bottle Fillers vs. Electric Water Coolers vs. Drinking Fountains vs. Water Dispensers…