SAN ANTONIO, Aug. 23, 2022 (GLOBE NEWSWIRE) -- A new analysis by Verify Markets shows the North American Outdoor Drinking Fountains Market was valued at over $30.0 million in 2021. The market is expected to witness slow growth during the forecast period (2021-2028). Key factors driving growth include an emphasis on environmentally-friendly drinking water solutions, school mandates, the infrastructure bill, grants, financial aid, rising health consciousness, and instances of extreme warm weather. Growth in bottle filling stations with reliable plumbing infrastructure and in-built filters will likely result in a demand shift from bottled water to water dispensing systems. Outdoor drinking fountains with bottle fillers are in demand, capturing over 35.0 percent of the market.
State governments and municipalities are extensively promoting water fountains and bottle filling stations at public places such as recreational centers and national parks, among others, with the primary aim to reduce plastic waste. Additionally, states across U.S. have been introducing bills to ensure accessibility to clean potable water for children. Demand for drinking fountains and bottle-fillers will grow with increasing health awareness and plastic waste awareness in citizens.
“Educational institutes are expected to undergo an increased demand for drinking fountains in the coming years. The demand will likely be driven by mandates to provide free potable water in schools and rise in condominium construction,” notes Shilpa Tiku, Chief Research Officer and Partner at Verify Markets.
Pricing plays a significant role in the outdoor drinking fountains market since the demand is highly dependent on economic conditions and funding. Depending upon the material and features, the price for drinking fountains ranges from $564.00 to more than $16,000.00. Nearly 50.0 percent of the drinking fountains are available at lower-mid price range ($2,000.00-$5,000.00).
Key challenges in the North American Outdoor Drinking Fountains Market include sustaining a volatile economy and changing regulations, threat of substitution (the convenience offered by bottled water), deteriorating plumbing infrastructure, poor water quality, and COVID-19 and elevated hygiene concerns. COVID-19 has resulted in supply chain bottlenecks, and labor shortages which has significantly impacted companies’ operations such as increased lead times. This has resulted in increased operating costs, thereby impacting the market share. Companies with robust distribution network were able to retain customers and sustain market share. The key players in this market include Most Dependable Fountains, Inc., Haws Corporation, Elkay Manufacturing Company, Murdock Manufacturing, Inc., Stern-Williams Products, LLC, and Willoughby Stainless Fountains.
Trends -
- Stainless steel is a popular choice of material for outdoor drinking fountains due to its exceptional properties such as durability and corrosion resistance, among others.
- In 2021, the majority of sales by revenues were from parks. Educational institutes and private/HOAs are expected to undergo increased demand for drinking fountains in coming years.
A copy of the North American Outdoor Drinking Fountains Market research report can be obtained at www.verifymarkets.com. Follow us for more updates on Twitter @verify_markets and LinkedIn.
About Verify Markets:
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Our research methodology consists of extensive primary interviews with key participants in the market along with secondary sources to validate our information. For more information on this report and other research (including custom reports and consulting), contact info@verifymarkets.com or call +1.210.595.6987
