Global Water Purifier Market Trends, Demand and Forecast To 2023
According to Market Research Future (MRFR)’s recent study, the global water purifier market is expected to thrive at 9.55% over the forecast period 2018 to 2025. The market is prognosticated to scale a decent valuation by 2023 up from USD 43,504.7 Mn in 2017. The rising awareness about waterborne diseases is expected to drive market growth over the next couple of years. The awareness campaigns and other schemes launched by the government and non-government organizations are prognosticated to have a favorable impact on the expansion of the global water purifier market in the foreseeable future.
Key players are focusing on technological advancements for capitalizing on developmental opportunities. The innovations introduced in the water purification technology are forecasted to drive the proliferation of the water purifier market over the assessment period. For instance, the integration of IoT, automation and sensor technology is presumed to catalyze the adoption of water purifiers globally.
The growth of the middle-income population is another major factor responsible for boosting the sales of water purifiers. With the emergence of urban migration, the standard of living has been elevated in the developing nations. This, in turn, is projected to boost the future trajectory of the water purifier market in the upcoming years. On the contrary, the high cost of sophisticated technology is likely to check the expansion of the market across the projection period.
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Market Segmentation:
By product, the global water purifier market has been segmented into RO water purifier, UV water purifier, and activated carbon filters. Among these, the RO water purifier segment is likely to hold its pole position thriving at a CAGR of 9.76% during the review period. The UV water purifier segment has been forecasted to train the RO water purifier segment in terms of market size and revenue.
By end users, the water purifier market has been segmented into residential and commercial. Among these, the residential segment currently accounts for a dominant share of the market and was valued at USD 30,977.8 Mn in 2017. The segment has been projected to strike a CAGR of 9.71% during the assessment period.
Regional Analysis:
By region, the global water purifier market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
Based on the geographical distribution, the region of Asia Pacific is expected to retain its high market position depicting a strong growth pattern throughout the review period. The luxurious market growth is the result of rapid urbanization, the rising standard of living, as well as the growing per capita income. The report states that Asia Pacific held almost 40% share of the global water purification market in the year 2017. Apart from this, the presence of emerging nations like India and China will leave a favorable impact on the regional market in the coming years. Besides, owing to the massive consumer pool in the region, the ambitious players are striving to target such economies in order to capture a bigger share of the regional market.
The North America region, on the other hand, is on its way to secure the second position at a global platform during the assessment period, since the region presents numerous growth opportunities to the market players. Not only this, but the growing demand for water purifiers in the region owing to the increasing number of health-conscious consumers will also be an instrumental factor responsible for the market growth in the near future.
The Europe water purifier market is exhibited to register a lavish market growth during the conjectured time frame with the growing health-conscious population giving rise to new trends in the region. Moreover, the internet is also playing a stellar role in creating awareness regarding the need for pure water for drinking. Additionally, the various government bodies within the region are actively working towards augmenting the knowledge about clean water, further accelerating the demand for the water purifier market in the region.
The water purifier market in the rest of the world, including the Middle East and Africa, will also fare well in the near future, backed by the increasing incidences of water-borne diseases combined with the surging demand for clean and safe water.
Competitive Dashboard:
Some of the important players operating in the global water purifier market are 3M, Hindustan Unilever Limited, BWT AG, Shenzhen Angel Drinking Water Equipment Co., Ltd., Pentair plc., COWAY CO., LTD, Mitsubishi Chemical Corporation, Brita, LP, Culligan, EcoWater Systems LLC, TORAY INDUSTRIES, INC., ENMETEC GmbH, Panasonic Corporation, Koninklijke Philips N.V., Carrier Midea India, Eureka Forbes, Kent RO Systems Ltd., A. O. Smith India Water Products Pvt. Ltd., Livpure Pvt. Ltd., and Ningbo Lamo Drinking Water Equipment Co., Ltd.
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