Water Purifier Market Expected to Expand at a High CAGR By End of 2025
The global water purifier market is anticipated to testify the stand out dominance of new product launch in the vendor landscape as players constantly look to grab a major share while gaining a competitive edge over their challengers. Bluewater Group's three new products launched in 2016 were deemed to help the company to strengthen its foothold in the market and attract more consumers. All of the products showcase a one-of-a-kind nature in terms of affordability, technology, and design. Products equipped with advanced water purification technologies could gain a major prominence in the market. In this regard, it could be said that companies could continue to invest heavily in research and development.
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One of the noticeable results of increasing research and development activities has been the introduction of water purifiers equipped with candle filtration, activated carbon, ultra-filtration, ultra-violet, ozone, and reverse osmosis (RO) technologies. The global water purifier market is predicted to witness the emergence of more products developed with cutting-edge innovation to cater to the rising demand for potable water. There has also been a massive launch of products equipped with filter pitchers and Wi-Fi technology in the market. Companies have been taking on innovative marketing strategies such as offering free demos to capitalize on an improved market share.
Poor water quality, pollution rising to dangerous levels, growing industrialization, and rising disposable income are some of the factors foreseen to augment the demand for water purifier in developing regions. Furthermore, rising health concerns and improved standard of living could provide a strong boost to the global water purifier market in emerging countries.
Global Water Purifier Market: Overview
The alarming rate of water pollution has led to the birth of several water-borne diseases and contaminated water bodies. Furthermore, the limited sources of freshwater reserves have also led to paucity of clean water for consumption. Owing to these reasons, countries are relying of desalination of ocean water and water treatment plants to provide consumers adequate drinking water. In view of this circumstance, the demand of water purifiers have undergone a tremendous change and is expected to make generous contributions to the soaring revenue of the global water purifier market.
Global Water Purifier Market: Drivers and Trends
The demand for water purifiers is anticipated to soar in the coming years as the need for clean water continues to rise in every part of the world. The rapid pace of urbanization and relentless population growth have collectively led to shortage of water supply in several urban areas. Subsequently, this has led to digging of well to pump out underground water reserves, which over time have also begun to deplete. The problem of fresh water has further been exacerbated due to global warming, which has caused draught in many parts of the world. All of these reasons have augmented the demand for water purifiers, which are needed for treating water for daily consumption.
The rising levels of water pollution has also aggravated the issue, causing people to be a prey to a range of water-borne diseases. In the light of this unfortunate fact, the demand for water purifiers have witnessed a significant boost. The various technologies available in the global water purifier market are gravity purifier, UV purifier, RO purifier, water softener, and sediment filter among others. Analysts project that the RO purifier technology is likely to dominate the global market in the coming years as it is known for its efficiency in water purification.
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Global Water Purifier Market: Market Potential
Innovation is projected to be the undertone of every company's plan to make it big in the global water purifier market. For instance, Walty, a solar-powered water purifier states that it is has been designed and developed to not just treat water but also to provide Wi-Fi within a kilometer radius. The creator, Marco Attisani states that Walty has the capacity to provide its unique services to about 3,000 people in the community. The aim of this project to provide its users access to clean water, internet, and electricity. Thus, not only is Walty a perfect solution for developing countries but also for places that have excessive sunlight and no clean water.
Countries such as Saudi Arabia, the United Arab Emirates, and Texas, U.S. have shown a keen interest in Walty. Developing countries of Africa and South America are also considering using Walty for changing the game of water purification in the region. Besides governments, major telecoms have also approached the designer for understanding how this technology could benefit them. Thus, innovations that go beyond the basic function of water purifiers are likely to set players apart from each other in the coming years.
Global Water Purifier Market: Regional Outlook
In terms of geography, the global water purifier market is segmented into Europe, North America, the Middle East and Africa, Asia Pacific, and South America. The analysts anticipate that Asia Pacific will lead the pack in the coming years due to an exponentially growing population. As majority of the countries in the region are developing, basic necessities such as access of clean water has continued to remain challenge. Thus, several households and commercial zones are opting for water purifiers to acquire clean, drinking water. Additionally, the ongoing issue of excessive environmental pollution and reducing groundwater resources have also triggered a significant demand for water purifiers.
The research report also predicts that South America will also be a key contributor to the surging revenues of the overall market. The region is expected to show steady growth in faucet mount and pitcher filter segments. Furthermore, the uptake of point-of-use accessories are expected to witness a spike as they are the most economical way solving the need for safe water sources.
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Key Players Mentioned in the Report are:
The leading operating in the global water purifier market are GE Corporation, Pentair Residential Filtration, LLC, Tata Chemicals Ltd, Eureka Forbes, Brita GmBH, Kent RO Systems Ltd., Culligan International Company, and A.O Smith Corp. (Aquasana, Inc.) among others.
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