|
|
 |
|
Viewing report
|
|
|
|
Residential Water Treatment Equipment Market in South Korea
Frost & Sullivan, March 2011, Pages: 90
This research service highlights the Residential Water Treatment (RWTE) market in South Korea market. It includes key research findings, country profile and a comprehensive background study of the water availability and quality issues in South Korea. A separate chapter on industry challenges, market drivers, and market restraints has been included in the research to highlight issues which would be faced by a player wanting to enter the South Korean Market. The market analysis chapter includes total market size for RWTE market, revenue forecasts, market share analysis, and market size split by RWTE type, market trends, competitive landscape, and market opportunities
Research Overview
This Frost & Sullivan research service titled Residential Water Treatment Equipment Market in South Korea provides an overview of the dynamics in the residential water treatment equipment (RWTE) market. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: point of entry (POE) (reverse osmosis (RO) and ultrafiltration (UF) filters, carbon and sediment filters, water softener and ultraviolet (UV) disinfection) and point of use (POU) (counter top, under-the-sink and faucet mount).
Market Overview
Quality, Credibility and After Sales Service to Drive the South Korean RWTE Market from $1.31 billion in 2009 to $2.32 billion in 2016
After a decline during the downturn, the South Korean RWTE market has rebounded on the back of questionable water quality amid increasing water demands to generate $1.43 billion in 2010, a 9.3 per cent increase from the $1.31 billion earned in 2009. The mushrooming of industries and the subsequent increase in waste generation, as well as the irresponsible disposal of that waste into rivers has contaminated the country’s water resources over the years. Municipal water treatment methods can only treat raw water supplies and the treatment cost rises along with the number of pollutants. Extremely high treatment costs could result in the permanent shutdown of water treatment plants, as was the case with a couple of plants in South Korea. Effluents from water treatment plants are required to meet the standards established by the Ministry of Health (MoH) and related governing bodies. However, the quality of water falls below the permissible limits by the time it reaches residences. This situation has spawned a huge need for water filtration products.
Despite the vast potential of South Korea’s RWTE market, entrants are hard pressed to penetrate it due to the nationwide presence of established companies. The lack of government support, an established bottled water industry and false claims by competing companies further complicate participants’ market entry strategies. Participants also have to deal with the lack of consumer awareness about water filtration types and functions, demand for filtration systems suited to the country’s water and requirement for excellent after-sales services. RWTE companies are hoping to stave off some of these challenges by adopting various media channels to increase product awareness. They also realise that customers expect efficient repair assistance and competent sales personnel. “After-sales services are considered the most important non-product competitive factor in the RWTE market, as consumers are very particular about the maintenance cost,” says the analyst of this research. “Endeavours are being made to reduce the price of replacement parts, thereby decreasing the cost of after-sales service.”
Overall, the competitiveness of RWTE companies depends on product quality, credibility, ability to handle water quality issues and market strategies. RWTE companies should focus on manufacturing effective filtration products at reasonable prices to counter the water-quality issues as well as present superior after-sales services. “Owing to the new economic reforms and development, South Koreans are expected to have greater spending power to improve their quality of life,” notes the analyst. “Most RWTE companies are enjoying brisk demands and queries (both in rentals and sales) and new houses are mostly equipped with some form of RWT equipment.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
Point of Use Water Treatment Equipment
- Counter top
- Under-the-sink
- Faucet mount
Point of Entry Water Treatment Equipment
- RO and UF filters
- Carbon and sediment filters
- Water softener
- UV disinfection
Product samples
A sample for this product is available. Please Login/Register to download this sample.
|
|
|
|
