Water Purifier Market Size will Escalate Rapidly in the Near Future
As per a report by Transparency Market Research, the global water purifier market will register a healthy 8.4% CAGR from 2017 to 2025. At this rate it is expected to grow its value from US$ 53.36 bn in 2016 to US$110.02 bn by 2025.
Small Cycle Time Makes Replacement Filters Market Leading Accessories Segment
Depending upon the type of accessories, the water purifier market is divided into pitcher filter, under sink filter, shower filter, faucet mount, water dispenser, replacement filters, counter top filters, house hold filters, etc. Among them, the segment of replacement filters is growing at a healthy clip because of their affordable prices and small cycle time. The TMR report forecasts the market for replacement filter to expand at a strong CAGR of 9.5% between 2017 and 2025.
Geographically, the key segments of the global water purifier market are North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific, of them, is a key region and is expected to surpass all other regions in terms of growth rate. According to the TMR report, the region will likely clock a robust 11.9% CAGR from 2017 to 2025. The market in the region is primarily being fuelled by its 4.4 billion population, which is about 60.0% of the world population. To satiate their need for clean water, water purifiers are seeing swift uptake. The high levels of water pollution and depleting groundwater resources are also pushing up demand for water purifiers. The RO purifier technology is said to be spearheading the growth in the Asia Pacific market.
Demand for Clean Water Catalyses Growth
At the forefront of driving growth in the global water purifier market is the burgeoning global population. Their growing demand for clean water for consumption has generated strong demand in the market. This demand in urban areas is higher thanks to high levels of water pollution resulting from industries dumping their waste in water bodies advertently or inadvertently.
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Moreover, uncertain availability of freshwater from resources in many countries, particularly in the Middle East region, forces them to depend on the water from ocean water, which requires desalination. This has also been stoking demand in the market.
“Negligence in maintenance of water infrastructure has severely damaged many water supply lines. This has also polluted the water supply, leading to demand for water purifiers in all the major sectors. The industrial sector is worst affected during water crises, and hence is a strong driver of demand for water recycling processes. Additionally, increasing awareness among the consumer about drinking water quality and expanding residential and commercial construction activities have also increased the demand for water purifiers,” elaborates the lead analyst of the TMR report.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The companyРђЎs exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMRРђЎs experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMRРђЎs data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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