Huge Growth and Opportunities in Global Water Purifier Market Till 2025
Posted: Mar 02, 2019
The global water purifier market has been experiencing recurring revenue growth over the last few years, which Market Research Future (MRFR) believes should continue over the forecast period of 2018-2025. The global water purifier market was valued at USD 43,504.7 Mn in 2017 and is expected to grow at a compound annual growth rate of 9.55% over the forecast period.
The growth of the global water purifier market is sustained by raising awareness about waterborne diseases. Waterborne diseases are widespread, especially in the emerging economies. Diseases such as diarrhea, typhoid, and dysentery can be directly linked to the consumption of contaminated water. The World Health Organization (WHO) along with various governments undertake initiatives and organize multiple campaigns focused at ensuring safety, raising awareness and educating the mass about the problem of water contamination which increases the adoption of water purifier systems.
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Technological advancements in water purification technology have also significantly triggered the adoption of water purifiers. The global water purifier market being very competitive, experiences outlay of massive amounts on research & development which has resulted in innovation in water purification technology. Developments such as the integration of the internet of things (IoT), touch technology and Bluetooth with water purifiers have opened up new avenues for market growth.
The complexity of water purification technology, advanced features, and maintenance of sophisticated technology involves considerable costs which is a key restraint to the growth of the water purifier market. The price of water purifiers is directly proportional to the technologically advanced features which also require maintenance at regular intervals to ensure smooth functioning. This might limit the adoption of o0f water purifiers to some extent. However, the surge in the purchasing power of individuals, especially in the developing economies are expected to spur the adoption of water purifiers over the forecast period.
The global water purifier market has been segmented based on product and end-user. By product, the market has been segmented into RO water purifier, UV water purifier, and activated carbon filters. The RO water purifier segment attained the largest revenue of USD 23,799.8 Mn in 2017 and is expected to continue its dominance with a CAGR of 9.76% over the forecast period. The UV water purifier segment is the second largest segment.
By end users, the market has been segmented into residential and commercial. The residential segment was the largest segment in 2017 which was valued at USD 30,977.8 Mn. The residential segment is expected to grow at a CAGR of 9.71% over the forecast period.
North America, Europe, Asia Pacific, and the Rest of the World are the key markets of the global water purifier market.
Asia Pacific dominates the global water purifier market with 41.56% share of the global market and was valued at USD 18,079.7 Mn in 2017.Asia Pacific water purifier market is expected to expand at a CAGR of 9.73% over the forecast period. Highest population density across countries such as China and India and the emergence of various domestic players in the region drives the Asia Pacific market for water purifier. Surging demand for purified water from application industries, raising awareness and rise in disposable income are other driving factors. China, India, and Japan are the key contributors to the Asia Pacific market while Indonesia is expected to emerge as a significant growth pocket in the Asia Pacific market over the forecast period.
North America accounts for the second largest share of 24.04% of the global water purifier market. A booming population in the region, scarcity of clean water and growing awareness of waterborne diseases drives the market in North America. Moreover, the US Environmental Protection Agency (EPA) has set several standards and regulations for drinking water. To comply with such standards, water purifiers are increasingly being adopted in the region. In addition, governments in the region have been working towards the establishment of an improved water treatment system which further bolsters the growth of the market. The North America market is expected to expand at a CAGR of 9.43% over the forecast period.
3M, BWT AG, Pentair plc., Hindustan Unilever Limited, COWAY CO., LTD, Culligan, EcoWater Systems LLC, Mitsubishi Chemical Corporation, Brita, LP, TORAY INDUSTRIES, INC., Koninklijke Philips N.V., ENMETEC GmbH, Panasonic Corporation, Carrier Midea India, A. O. Smith India Water Products Pvt. Ltd., Eureka Forbes, KENT RO Systems Ltd., Livpure Pvt. Ltd., Shenzhen Angel Drinking Water Equipment Co., Ltd., and Ningbo Lamo Drinking Water Equipment Co., Ltd.
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