SAN ANTONIO, SEPTEMBER 20, 2018 -- A new analysis by Verify Markets shows the North American Water Dispensing Solutions Market to be valued at over $240.1 million in 2017. The market is expected to continue slow growth during the next seven years, mainly due to the fact traditional drinking fountain sales are largely tied to the commercial construction market and can be adversely impacted by the real estate market. Commercial tenancy should be negatively impacted by virtualization, long-term.
One of the main market drivers is consumers who want easily accessible drinking water of adequate quality and taste. Global urge to combat plastic gives drinking fountains an advantage as 100+ cities in the U.S. have banned or restricted spending on bottled water. Disposing of plastic bottles is also becoming more expensive. Finally, health concern encourages consumers to shift away from beverages with added sugar and monitor hydration and water consumption. Among the best-selling drinking solutions are refrigerated units and filtered units. Bottle filling stations currently dominate the market.
Seventy-five to eighty-five percent of drinking fountain purchases are going through the plumbing wholesale channel. Elkay Manufacturing Company dominates the North American market representing more than half of the opportunity. The company has become the leader in most education, healthcare and commercial markets. Elkay’s market position has been fueled by their modular bottle filling attachment. Oasis International is the second largest participant and has a considerable presence in commercial buildings.
There are some challenges that the manufacturers of drinking solutions need to overcome in the medium and long-term. Those include: lack of standards for drinking fountain maintenance, repair, and replacement, obtaining good shelf-space at plumbing distributors and wholesalers, lack of qualified talent to provide maintenance after-sales service.
The North American Water Dispensing Solutions Market report has been segmented by country (United States and Canada). The United States represents 92% of market opportunity with California alone bringing more sales revenue than Canada.
Some of the key companies covered in this report include Elkay Manufacturing Company, Haws Corporation, Oasis International, Most Dependable Fountains, Inc., Murdock Manufacturing, Inc. among others. This report provides an in-depth analysis of the overall North American Water Dispensing Solutions market. The report captures various market dynamics such as growth drivers, restraints, market revenues and forecasts, technology trends and competitive landscape. The base year for the study is 2017 and the forecasts are until 2024.
A copy of the North American Water Dispensing Solutions Market research report can be obtained at www.verifymarkets.com. Follow us for more updates on Twitter @verify_markets and LinkedIn. This report is part of Verify Markets’ Consumers Products research and consulting practice. Other aromatherapy market reports:
- 2016 North American Drinking Fountain Market
- 2018 Global Water Bottles with Filters Market