Water Purifier Market: Rising Demand for Clean and Healthy Water for Consumption
A new market research report by Transparency Market Research states that the global water purifier market is competitive in nature and is projected to experience a rise in the level of competition in the near future. The key players in the market are focusing on the development and innovative products, which is estimated to support the market growth and enhance their market penetration worldwide. In addition to this, the increasing number of strategic collaborations and partnerships is likely to ensure the market growth in the near future. Moreover, the key players in the market are spending extensively on advertising and marketing activities, thus attracting a large number of consumers across the globe. The leading players that are engaged in the water purifier market across the globe are GE Appliances, Unilever N.V., Eureka Forbes Ltd., LG Electronics, Panasonic Corporation, Tata Chemicals Ltd., Kaz USA, Inc., A.O. Smith Corporation, Whirlpool Corporation, Kent RO Systems Ltd., and Philip Electronics.
As per the market research study by Transparency Market Research, in 2016, the global market for water purifiers was worth US$ 53.36 bn and is predicted to reach a value of US$110.02 bn by the end of 2025. The market is estimated to exhibit an 8.40% CAGR between 2017 and 2025. The replacement fillers segment is likely to lead the global water purifiers market and register a strong 9.50% CAGR throughout the forecast period.
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Rising Consumer Awareness Regarding Clean Water to Push Market Growth
A tremendous rise in the demand for clean and healthy water is one of the key factors that is expected to enhance the growth of the global water purifier market in the coming few years. The increasing population and the rising level of pollution are some of the other factors that are predicted to support the development of the market in the near future. In addition to this, the rise in the prevalence of several water-borne diseases, particularly in several under-developed and developing economies is another factor propelling the market growth in the near future.
Furthermore, public as well as private organizations, across the globe are making ardent efforts to create an awareness related to the benefits of water purifiers, which is estimated to supplement the growth of the global water purifier market throughout the forecast period. Moreover, the enhancement of the distribution network and the rising advertising activities by the leading players are further expected to offer growth opportunities in the coming few years.
Low Rate of Penetration to Restrict Market Growth in Coming Years
The global water purifier market is expected to face several challenges, which are further predicted to restrict the overall development of the market in the near future. The rise in the demand for packaged drinking water and low penetration rate are estimated to hamper the growth of the global water purifier market throughout the forecast period. Nonetheless, the high rate of industrialization, resulting in a high pollution levels and the increasing growth opportunities from developing economies are estimated to enhance the growth of the global water purification market in the coming few years.
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