Water Purifier Market Size Hits $92.1 Billion, Globally, by 2031

Allied Market Research published a report, titled, "Water purifier Market by Technology (Uv, Ro, Gravity Based), by End User (Commercial, Residential), by Distribution Channel (Retail Stores, Direct Sales, Online), by Portability (Portable, Non Portable): Global Opportunity Analysis and Industry Forecast, 2020-2031". According to the report, the global water purifier industry generated $29.9 billion in 2020, and is anticipated to generate $92.1 billion by 2031, witnessing a CAGR of 10.1% from 2022 to 2031.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/1394

The global water purifier market is anticipated to witness a rapid growth in the residential segment because of rise in health concerns amongst households. Residential users accounted for the largest share of the overall market in 2020. Moreover, the segment is anticipated to witness prominent growth in developing countries, such as China and India in the coming years, owing to increase in scarcity of clean drinking water and surge in awareness toward health and hygiene.

Prime determinants of growth

Increase in disposable income, demand for water purification systems, and rise in concerns toward health and well-being among the global population drive the growth of the global water purifier market. Moreover, surge in incidence of waterborne diseases presents new opportunities in the coming years.

The global water purifier market is anticipated to witness notable growth in the recent years. This is attributed to the fact that sales have surged in the past few years in Asia-Pacific, making it the largest revenue generator. Moreover, presence of huge population base and scarcity of clean drinking water drive the market in developing countries, such as India and China. The penetration rate of relatively lower priced products, such as gravity-based water purifiers is higher in developing countries of Asia-Pacific and LAMEA. These markets also witness increase in adoption of high-end products and increase in the number of international players, such as Panasonic, Amway, and others. Thus, the demand for portable water purifiers is expected to increase at a considerable rate in developed countries of Europe and North America, as these markets are nearing maturity.

Based on end user, the residential segment held the highest market share in 2020, accounting for nearly three-fourths of the global water purifier market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to deteriorating water quality, rise in urbanization, and surge in incidence of waterborne diseases. However, the commercial segment is projected to manifest the highest CAGR of 10.6% from 2022 to 2031, owing to rise in the number of offices, schools, restaurants, and hotels all around the globe.

The retail stores segment to maintain its lead position during the forecast period

Based on technology, the retail stores segment accounted for the largest share in 2020, contributing to nearly three-fourths of the global water purifier market, and is projected to maintain its lead position during the forecast period. This is owing to higher affinity of consumers toward physical stores. Moreover, the online segment is expected to portray the largest CAGR of 11.6% from 2022 to 2031, because brands in water purifiers that use retail stores and direct sales are now expanding their channel into online divisions to attract more customers.

Asia-Pacific, followed by Europe & North America to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by Europe & North America held the highest market share in terms of revenue 2020, accounting for more than two-third of the global water purifier market. This is due to increase in urbanization, surge in income levels, and rise in health awareness among people in this region. However, the LAMEA region is expected to witness the fastest CAGR of 12.3% from 2022 to 2031, owing to rise in penetration level of water purifiers, upsurge in population, and deterioration in quality of water.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/1394

Leading Market Players: -

Amway Corporation
A. O. Smith Corporation
Best Water Technology
Eureka Forbes Limited
Halo Source Inc.
Kent Ro System Ltd.
LG Electronics
Panasonic Corporation
Suez Water Technologies & Solutions (SUEZ)
Tata Chemicals Ltd.

Trending Report
Air Humidifier Market : https://www.alliedmarketresearch.com/air-humidifier-market

Body Dryer Market : https://www.alliedmarketresearch.com/body-dryer-market

Smart Connected Washing Machine Market : https://www.alliedmarketresearch.com/smart-connected-washing-machine-market

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.