The digital media fans this consumer demand by stressing the importance of safe water for a healthy lifestyle, compelling residential water treatment equipment manufacturers to provide high-performance water filtration equipment that promotes health wellness.
New analysis from Frost & Sullivan (environmental.frost.com), Residential Water Treatment Equipment Market in Singapore, finds that the market is expected to earn revenues of $16.8 million in 2016.
Companies that provide proven and internationally recognized systems which offers water with therapeutic and health benefits are very likely to succeed in Singapore. Their R&D efforts could bear fruit even before the product is introduced in the market as the Government's tax structure offers low corporate tax rate, tax exemptions, and incentives. This is particularly beneficial to participants involved in cutting-edge R&D in water technologies.
"Furthermore, Singapore, as a free port, does not apply custom and excise duties on many goods including environmental equipment," says Frost & Sullivan Program Manager Melvin Leong. "Hence, import opportunities are plenty and it augers well for foreign market participants."
As the Singaporean economy is expected to be stable, the market is likely to exhibit annual growth rates between 4 and 5 percent.
According to Leong, the technology that is likely to make the most of the economic stability and consumers' higher spending power is membrane technology. "It is one of the most widely adopted technologies in water treatment, and its R&D is supported by the local agencies in Singapore," he says.
POU systems with other technologies such as ultraviolet and carbon filtration are rated high in competitiveness and market attractiveness; however, the sales of POU systems with other technologies are generally lower than those with membrane technologies.
Owing to the socio-economic demographics and market conditions in Singapore, POE systems generally experience lower demand, as the majority of end users live in high-rise residential buildings.
Equipment manufacturers' biggest threat is the high quality of potable water supplied by the municipalities. Government authorities ensure that the water at water treatment plants and storage and distribution points meet the terms of the country's water quality management program. This close monitoring and quality standards negates the need for additional treatment equipment.
To offset the effects of such stringency, manufacturers often provide a variety of after-sales services, which usually include free or low-cost maintenance, cartridge replacement at reduced prices, technical assistance through telephone or e-mail, door-to-door service, and affordable product upgrades in trade-in programs.
"With easy connectivity between residential areas and commercial areas, after-sales services including door-to-door delivery can be done without delay," notes Leong. "Various companies are adopting multiple sales channels, including online purchase wherein product selection and payment can be made online before product delivery."
If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.
Residential Water Treatment Equipment Market in Singapore is part of the Environmental Growth Partnership Services program, which also includes research in the following markets: Residential Water Treatment Equipment Market in South Korea, IFM Market in Australia, and Bottled Water Market in Indonesia. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Residential Water Treatment Equipment Market in Singapore / P3E8