Global Water Purifiers Market registering 17. 58% CAGR

Global Water Purifiers Market Overview:

Market Research Future (MRFR) confirms that the global water purifiers market is estimated to demonstrate a voluminous growth worth USD 175.54 billion by 2030, registering a striking 17. 58% CAGR during the assessment period ((2023 - 2030). Growing usages of diverse product portfolios and the vast range of benefits of water purifiers have considerably contributed to the demand in the market.

The global water purifier market 2020 is mainly driven by rising awareness regarding water-borne diseases. Moreover, there has been constant development in water purifiers' technology. With an increment in the containments, chemical substances, and dissolved solids, and other materials, the requirement for an efficient water purifier has risen from the past few years. Moreover, the increasing pollution has resulted in a surge in demand for water purifiers. Water purifiers have become a necessity for urban consumers in emerging economies due to the growing level of water pollution.

Moreover, the increasing level of disposable income, the increasing health concern are some of the most important factors augmenting market expansion during the forecast period. Besides, to control the spread of diseases like typhoid, cholera, and pneumonia, the demand for water purifiers is rising up. However, the cost of maintenance and high equipment may obstruct the expansion of the water purifier market.

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Key Players:

Some of the global water purifiers market leaders are-

Unilever

Smith

EcoWater Systems LLC

Coway Co., Ltd.

Panasonic Corporation

Livpure Pvt. Ltd.

KENT RO Systems Ltd

Global Water Purifiers Market Segmentation:

The study report is segmented into products, end-users, and regions.

The product segment is sub-segmented into UV water purifiers, RO water purifiers, activated carbon filters, and others.

The end-user segment is sub-segmented into residential and commercial.

The Region segment is sub segmented into North America, Europe, Asia-Pacific, Rest of world.

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Market USP Covered:

Market Drivers:

Water Pollution and Contamination: Rising pollution levels and the presence of contaminants in water sources have led to a surge in demand for water purifiers. Concerns about waterborne diseases and health risks associated with consuming contaminated water have prompted consumers to invest in water purification solutions.

Urbanization and Population Growth: Rapid urbanization and population growth have strained existing water supply and treatment infrastructure, leading to a greater need for individual water purification solutions in urban areas.

Health Awareness and Consumer Education: Growing awareness among consumers about the importance of clean and safe drinking water for maintaining good health has fueled the adoption of water purifiers in households and commercial establishments.

Technological Advancements: Advances in water purification technologies have resulted in more efficient and cost-effective water purifiers. Innovations such as reverse osmosis, ultraviolet (UV) purification, and activated carbon filters have improved the effectiveness of water purification systems.

Government Regulations and Initiatives: Government regulations and initiatives aimed at ensuring safe drinking water for citizens have also contributed to the growth of the water purifiers market. These regulations may set specific standards for water quality, driving the adoption of water purifiers to meet those standards.

Bottled Water Alternatives: As concerns about plastic waste and environmental sustainability increase, many consumers are shifting away from bottled water consumption and opting for home-based water purification systems as a more eco-friendly solution.

Challenges:

High upfront costs for advanced water purifiers, maintenance expenses, and the need for electricity (in some cases) were factors that could hinder market growth.

Regulatory compliance and certification requirements for water purifiers varied by region and could impact market entry and sales.

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Regional Insights:

The geographical analysis of North America, Europe, Asia-Pacific (APAC), and the rest of the world (RoW) has been conducted. As per the analysis by MRFR, the APAC region is likely to dominate the global market and is estimated to witness robust growth during the forecast period. China is the largest market for water purifiers in the APAC region. The primary factor which has resulted in China being the most significant market is the expanding economy, new domestic players, and the rising import and export trade in China. Besides, the significant regions of the region are experiencing rapid urbanization, rising standard of living, and increased disposable income.
Moreover, the presence of an enormous large consumer pool, the established players, is aiming the two fastest developing economies of the world i.e., India and China. The second position is attained by the North American region. North America is a lucrative market for key players. The demand for water purifiers has surged due to the rising concern towards health. The RoW consists of regions such as South America and MEA. The increasing disposable income has resulted in a better lifestyle, which has driven the market in terms of value for water purifiers in RoW

However, due to the outbreak of pandemic coronavirus, several regions have been adversely affected. The dynamics of the market are changed significantly due to the observation of worldwide lockdown.

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