Global Market for Water Purifiers, in terms of value, is estimated to reach a value of USD 78.6 Billion by 2025, registering a 17.37% CAGR during the forecast period.
The report covers the segmentation and drivers for a better glimpse of the market in the coming years. Water purifiers have witnessed a significant growth in adoption rates over the past few years owing to the increasing awareness about water-borne diseases and technological advancements in water purifiers. The World Health Organization (WHO) organizes many campaigns to raise awareness regarding health and safety issues among individuals. Such campaigns are often aimed at educating the population regarding the causes of illness. According to the WHO, unsafe drinking water, sanitation, and hand hygiene lead to approximately 4 billion cases of diarrhea, every year, across the globe. The rising cases of cholera and other serious illnesses such as guinea-worm disease, typhoid, and dysentery are increasingly prompting individuals to drink pure water, creating a demand for water purifiers.
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Global Water Purifier Market is characterized by the presence of many local, regional, and global vendors. The market is highly competitive, with all the players continually competing to gain a larger market share. High competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the critical factors that could restrain the market growth. The vendors compete in terms of cost, product quality, reliability, and aftermarket services. Vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.
The growth of the vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. A. O. Smith, Unilever, EcoWater Systems LLC, Panasonic Corporation, Coway Co., Ltd., KENT RO Systems Ltd., and Livpure Pvt. Ltd. are some of the key players operating in the global market. These companies compete in terms of availability, quality, price, and technology and consider product development & acquisition as their key strategies in the global Water Purifier Market. Although the international players are dominating the market, regional and local players with small market shares also have a significant presence. The international players may strengthen their presence in the global market by heavily investing in product development during the forecast period.
Increasing awareness about water-borne diseases and technological advancements in water purifiers will spur market growth. The global water purifier market has been segmented based on products, devices, and end-user.
Based on the product, the global market has been segmented into RO water purifier, UV water purifier, and activated carbon filters. In 2019, the RO water purifier segment accounted for the largest market share of 54.8%, with a market value of USD 27,481.7 million. It is projected to register a 17.13% CAGR during the projected timeframe.
Based on devices, the market has been segmented into wall-mounted, countertop, tabletop, faucet-mounted, and under-the-sink (UTS).
Based on end-user, the global market has been segmented into residential and commercial. In 2019, the residential segment accounted for a considerable market share of 71.9%, with a market value of USD 36,069.1 million. It is projected to register an 18.25% CAGR over the forecast period.
Based on region, the report on the global water purifier market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
With the highest population density in countries such as China and India, Asia-Pacific dominates the global water purifier market. The market has been experiencing rapid growth in the last two to three years, owing to the growing commercial sector, rising preference towards purified water, and government initiatives. The population of these regions has also been increasing, which is expected to boost market growth further. India has considerable demand for water purifiers. The key factors that are driving the Indian market are the rapidly developing economy, government initiatives for pure water, and growing population.
North America is one of the largest markets for water purifiers during the forecast period. Factors that drive the regional market include the increased demand for household products, scarcity of clean water, and growing population. The growing awareness of water-borne diseases backs this. The US holds the largest share of the North American water purifier market. The rising concerns for optimal water use across all sections of society drive the market.
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