A three-pronged approach was followed for deducing the water dispenser market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for water dispenser market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of water dispenser market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The water dispenser market was categorized into five segments, namely product (Bottled, Bottle-less), application (Residential, Commercial, Industrial), end-use (Residential, Commercial, Industrial), distribution channel (Online, Retail Stores, Non-branded Stores), and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).
The water dispenser market was segmented into product, application, end-use, distribution channel, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The water dispenser market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Italy; Spain; India; China; Japan; South Korea; Australia & New Zealand; Brazil; Argentina; South Africa; UAE; Saudi Arabia.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The water dispenser market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
WHIRLPOOL CORPORATION: The company has a wide product portfolio of home appliances and consumer electronics and a strong brand image. This helps the company stand out amidst the competition and gain new consumers. ü The company also has a strong distribution network across the globe and its products are available in most countries worldwide. ü Advanced productivity tools, aggressive indirect spending discipline, and product architecture modularization have made Whirlpool an agile organization and strengthened its position in the global industry.
BRIO WATER TECHNOLOGY, INC.: Brio Coolers is an American company involved in manufacturing and supplying water dispensing systems and is headquartered in California, U.S. The company’s product portfolio comprises bottled water dispensers, bottle-less water dispensers, and filters. Its bottled water dispenser segment includes top-load coolers, bottom-load coolers, and countertop coolers. Its bottle-less water dispenser segment includes standup coolers and countertop coolers. Its filters segment comprises 2-stage water filters, Brio 3-stage water cooler filter replacement kits, 3-stage quick-change water filters, 4-stage UF water filters, and Brio 4-stage RO water filters. Its products are widely used in homes, offices, retail stores, shopping malls, and government facilities, among others. The company primarily serves customers in the U.S. through its websites.
CULLIGAN INTERNATIONAL COMPANY: Culligan International Company is an American company involved in the manufacturing of water treatment products & related services. It was founded in 1936 and is headquartered in Illinois, U.S. The company’s product portfolio includes water softening, water filtration, and water dispensing products. Its water softening segment comprises water softeners and salt-free alternatives, while its water filtration segment comprises whole home water filter systems and drinking water filter systems. Its water dispensing segment comprises hot & cold water dispensers and bottle-free water cooler systems. The company serves residential, commercial, and industrial consumers and offers services such as water testing, water delivery and coolers, salt delivery, and portable exchange.
CLOVER CO. LTD.: Clover Co., Ltd. specializes in manufacturing and exporting water dispensers. The company was founded as WonJin Industries in 1988 and renamed Clover Co., Ltd. in 1994. It is headquartered in Anyang-si, Gyeonggi-do, South Korea. The company’s product portfolio includes bottled water coolers, point-of-use coolers, coffee machines, hot water dispensers, under sinks, and accessories. It also offers support & services such as cleaning & maintenance, NSF Standard Cleaning Guide, and parts replacement services. The company holds certifications such as IECEE CB, Energy Star, NSF, UL, SASO, and ISO9001:2015.
WATERLOGIC HOLDINGS LIMITED: Brand recognition is the company’s strongest suit. It is a leader in point-of-use (POU) drinking water purification and dispensing systems and its water coolers and brands are recognized and trusted around the world. ü The company has an experienced international management team and has top operators in every line. ü Its manufacturing excellence with its state-of-the-art manufacturing facility helps offer innovative quality products that are stylish and functional. Its products are reliable, high performance, & have gone through stringent hygiene parameters and industry certifications. The company has an extensive distribution network and exceptional services.
MIDEA GROUP CO. LTD.: The company is a leading manufacturer of household appliances and dominates the major appliance segment. It provides high-quality, one-stop home solutions through its wide product range, complete with full specifications. Its global R&D resource integration capabilities allow it to continue leading in R&D and technical innovation. The company is focused on building a competitive, multi-layered global R&D system centering on user experience and product functions. In 2019, the company invested over USD 1.4 billion to this cause. ü The company has a strong distribution network across the globe through which it sells its products in over 200 countries.
A.O. SMITH CORPORATION: The company has a strong base of reliable suppliers, which enables it to overcome any supply chain bottlenecks and allows smooth operations. The company has a strong distribution network in North America and Asia with a well-established relationship with its distributors & dealers. They promote the company’s products and also train the sales teams about the numerous product benefits. The company has a strong cash flow, which allows it to expand new projects and drive revenue growth. Its strong brand portfolio has been useful in gaining new customers.
EDGAR’S WATER: Edgar’s Water is involved in the manufacturing and supply of hot and cold hydration solutions throughout the U.K. It was founded in 1992 and is headquartered in Kent, U.K. The company’s product portfolio includes bottled water coolers, mains-fed water coolers, contactless water coolers, other water solutions, coffee machines, and others. The company serves end users such as offices, schools, universities, homes, and leisure and health organizations. The company also offers services such as regular bottled water deliveries, regular sanitization programs, contractual flexibility to suit customers’ water cooler needs, and customer and technical support. Edgar’s Water is a member of The British Water Cooler Association (BWCA), which reinforces its commitment to providing consistent and quality service to its customers.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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