Water Fountain Market Size, Share & Growth | Forecast [2031]

Report Description

The water fountain market size was valued at USD 1,850.14 Mn in 2022 and is expected to reach USD 2,291.54 Mn by 2031, expanding at a CAGR of 3.2% during the forecast period, 2023 – 2031. The growth of the market is attributed to rising economic growth in developing countries and increasing consumer awareness about healthy drinking habits.

A water fountain, also known as a drinking fountain or water bubbler, is designed to provide instant drinking water, especially for public use. It consists of a basin arrangement with a tap or bubbler that dispenses either continuously running water or water on demand.

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These drinking fountains can be also designed to regulate the water temperature to make the water cold or hot. The water fountains are usually connected to the main water supply that is available for public use including commercial or residential buildings.

Outdoor fountains have several options for power, among which hardwired and solar-powered are most commonly used. The electric power source is drawn by hardwired fountains to function. Licensed electricians are preferred for the installation of hardwired outdoor fountains.

Solar-powered outdoor fountains are popular as it works on solar energy and does not require hardwiring and electricity to function. They are much more convenient than hardwired fountains. The water temperature and flow of the water fountains can be controlled and adjusted accordingly.

Water fountains benefit the environment, as they ensure less plastic waste and reduce environmental pollution. Moreover, the user also gains monetary savings from not purchasing plastic bottled water and also helps in controlling global warming and greenhouse gases by reducing the use of plastic.

As per guidelines given by various international organizations including the World Health Organization (WHO), World Bank, and United Nations International Children’s Emergency Fund (UNICEF), it is mandatory for governments to provide safe drinking water for the citizens. Various grants and aids are provided by government institutions across the world to install water fountains in schools, parks, sports, and recreational places. The water fountains filter out the contaminants such as lead and retain beneficial elements such as fluoride.

The COVID-19 outbreak affected the overall revenue of the global water fountain market due to a sharp decline in the manufacturing of outdoor water fountains across the world. As a part of preventive measures imposed by governments across countries to curb the virus spread. Moreover, Public places were restricted to visit due to the pandemic which led to reduce the demand for water fountains.

The prolonged shutdown of manufacturing industries has plummeted the overall demand for fountains. Further, the sudden disruption in the supply chain especially the lack of timely supply of raw materials forced manufacturers to either delay their production or reschedule their existing projects.

Water Fountain Market Dynamics

Key Drivers

Rising innovation in outdoor drinking water fountains is expected to drive the market in the coming years. Market key players are investing in research and development (R&D) to offer innovative products to consumers. Carbon filters to detoxify the contaminated water are installed in the water fountains, which in turn drives the market.

Existing Restraints

Increasing installation and maintenance cost of water fountains creates a major challenge for the market. The water levels need to be regulated properly and the available water in the fountain must be maintained with disinfection solutions. Moreover, increasing alternatives for consumers is expected to hamper the market in the coming years.

Emerging Opportunities

Increasing rate of infrastructure development is likely to create ample opportunities in the market, owing to the demand for drinking water fountains in public spaces for easy access to clean & safe water and making it as a part of infrastructure development.

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Scope of Water Fountain Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
 

Market Segment Insights

On the basis of installation type, the global water fountain market is bifurcated into outdoor and indoor. The outdoor segment is projected to expand during the forecast period, due to the rising adoption of water fountains across residential communities and high-traffic areas. Outdoor fountains provide benefits such as convenience and reliability to physically challenged consumers.

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In terms of mounting type, the market is segregated into floor mounting and wall mounting. The floor mounting segment is expected to register a robust growth rate in the coming years. Key features such as being suitable for indoor & outdoor use, adjustable timed flow valve, solid construction with smooth circular design eliminating sharp corners, and concealed pipework is likely to drive the market.

On the basis of application, the market is classified as schools & education institutes, parks, recreational places, sports complexes & playgrounds, and others. The school & education institutes segment is projected to register a considerable CAGR during the forecast period, owing to the availability of a wide range of robust wall mount and floor mount stainless steel models.

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Based on sales channel, the market is divided into offline and online. Offline stores are expected to drive the market. Consumer benefits such as instant customer services and product queries are likely to boost the offline store segment in the forecast period.

In terms of region, the global water fountain market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The Asia Pacific region is anticipated to dominate the market during the projection period, owing to the increasing number of government initiatives. Moreover, with rising awareness about alternatives to bottled water for the reduction of plastic waste. Growing health concerns and environmental issues are increasing the demand for water fountains in the region.

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