Parks Are Key End User Group For Outdoor Drinking Fountains In North America
By Shilpa Tiku
The North American Outdoor Drinking Fountains Market was valued at over $30.0 million in 2021. The market is largely dependent on economic conditions and citizens’ perceptions towards public drinking water systems. Key drivers in this market include the emphasis on environmentally-friendly drinking water solutions, school mandates, the infrastructure bill, grants, financial aid, rising health consciousness, and instances of extreme warm weather and dehydration.
Water consumption and wellness are growing trends, with most U.S. citizens believing in the health benefits of drinking the optimum amount of water and hydration. Moreover, key organizations such as the World Health Organization (WHO) and the Center for Disease Control and Prevention (CDC) emphasize drinking adequate water for healthy functioning of the body. The CDC recommends carrying a water bottle and refilling it. Consumers have access to numerous articles and podcasts that discuss the health benefits of drinking water and recommend using a reusable bottle.
The COVID-19 pandemic resulted in supply chain bottlenecks, and labor shortages which significantly impacted companies’ operations and increased lead times. Additionally, 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.
In 2021, direct sales was the most popular sales channel in the North American Outdoor Drinking Fountains Market, followed by online sales. An estimated 95% of sales by revenue in 2021 were from non-refrigerated units. The chart below highlights market share, by revenue, by refrigeration, for 2021. Additionally, most of the revenue was generated from replacement units versus newly constructed units. Free-standing units are more popular as compared to wall mounted units.
Source: Verify Markets
Trends By End User Applications
In 2021, more than 50% of sales by revenue were from parks. Educational institutes are expected to undergo increased demand for drinking fountains in coming years. The demand will likely be driven by mandates to provide free potable water in schools and rise in HOAs and condominium construction.
Replacement units accounted for more than 50% of the market by revenue, and more than 50% of sales were from unfiltered units.
Bottle Fillers Are Gaining Traction
According to a leading market participant, “In my opinion, I believe the bottle fillers will grow probably four to five times the value of fountains because fountains are going to be depicted purely based on construction. And as economy has dipped today, all the projects in place that are out there for fountains are being fulfilled, and there will be no new ones going on the books. No new construction. While I say none, there will be very little new construction. It is going to be a downturn until economy comes back and starts over again. Bottle fillers, I would say, are going to replace fountains in the industry. So, there will be a little bit of growth from that factor.”
“Drinking fountains were really kind of the king. However, I think with COVID-19, it has unlocked the door to these bottle fillers; people are sticking with them. We have had several different institutions, everything from government office buildings to schools, have told us that their goal is to replace all drinking fountains with bottle fillers, to have those filling stations rather than drinking fountains. Whether they are willing to spend all the money to get that done yet, I think it's in process, but I think it may be kind of the wave of the future.”
Regional breakdown - The west and southeast regions are likely to see more demand for outdoor drinking fountains, given warm weather conditions, high disposable incomes, and economic growth.
Key market players - The key players in this market include Most Dependable Fountains, Inc., Haws Corporation, Elkay Manufacturing Company, Murdock Manufacturing, Inc., Stern-Williams Products, LLC, Willoughby Stainless Fountains, and several others.
Pricing trends - 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% of the drinking fountains are available at lower-mid price range ($2,000.00-$5,000.00), with an average price of $3,197.78.
About Verify Markets
The Verify Markets team is a group of market experts, creative thinkers, business analysts, and independent consultants located around the world. We work with our clients to bring solutions to every project and deliver reliable data and trends based on primary research. Our Research & Consulting practice provides global industry analysis, custom engagements, end-user analysis, strategy consulting, strategic market intelligence, and forecasts that are designed to facilitate strategic decision-making. Our team continuously monitors and evaluates information to create insights for your business needs.
Shilpa Tiku is the Chief Research Officer at Verify Markets. Ms. Tiku has experience in research and consulting for over 19 years. She focuses on monitoring and analyzing emerging trends, technologies, and market dynamics in several global markets. To reach her for comments, interviews, or market consulting, call +1 210.595.9687 or email her at shilpa.tiku@verifymarkets.com.