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Water Filters Global Market Analysis, Trends, Growth, Research And Forecast 2033
Water Filters Global Market Analysis
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According to The Business Research Company's, The water filters market size has grown strongly in recent years. It will grow from $13.97 billion in 2023 to $15.04 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to water contamination concerns, health awareness and safety, environmental awareness, urbanization and industrialization, infrastructure challenges.
The water filters market size is expected to see strong growth in the next few years. It will grow to $20.58 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to stringent government regulations, consumer demand for convenience, continued global water crisis, shift from bottled water, emphasis on healthier lifestyles. Major trends in the forecast period include introduction of digital tools, smart app integration, technological advancements, collaborations.
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Market Drivers and Trends:
The rising manufacturing industry is expected to propel the growth of the water filters market going forward. The manufacturing industry encompasses the production of physical goods through various processes, from raw materials to finished products. Water filters play a crucial role in removing impurities, particles, metals, chemicals, sediments, and microorganisms from water used in industrial processes. Industrial water filters are essential for ensuring the quality and purity of the water used in manufacturing processes, and they contribute to maintaining the efficiency and reliability of industrial operations. For instance, in July 2023, according to Eurostat, a Luxembourg-based government statistical agency, industrial output in the European area witnessed a 0.2% increase. Moreover, a 0.1% increase was reported in the European Union during the period between May and April 2023. Therefore, the rising manufacturing industry is driving the growth of the water filters market.
Technological development is a major trend gaining popularity in the water filters market. Major companies in the water phase filtration sector are focused on technological advancements and sustainable alternatives to expand market reach and presence. For instance, in April 2022, Pentair, a US-based water treatment company, launched a long-lasting water filtration device that gives customers better tap water. The device is powered by InstaClean Technology and certified to reduce or remove 76 contaminants. By decreasing the usage of single-use plastic water bottles and giving customers access to cleaner household water, the company hopes to offer a sustainable substitute for bottled water.
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Major Key Players of the Market:
Eaton Corporation, Suez Water Technologies & Solutions, Veolia Water Technologies & Solutions i, Dow Water & Process Solutions, EvoQua Water Technologies.CORP, MANN+HUMMEL Gruppe, Pall Corporation, Pentair PLC, Lydall Industrial Filtration, Meissner Corporation, Mantec Filtration, Mitsubishi Chemical Corporation, EcoWater Systems LLC, ION EXCHANGE, COWAY CO.LTD, BRITA GmbH, Eureka Forbes, Abhiro water purifier, ADSORBIT, Ahlstrom-Munksjö Oyj, Alfa Laval Corporate AB, AmeriWater LLC, Aquafresh RO Systems, Aquasana Inc., Best Water Technology AG, Freudenberg Filtration Technologies SE & Co. KG, Nitto Group Company, JMCC Water Filters, Lenntech B.V., Toray Advanced Materials Korea Inc.
Water Filters Market 2024 Key Insights:
• The water filters market size is expected to see strong growth in the next few years. It will grow to $20.58 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
• The Rising Emphasis On Water Purification And Quality Is Fueling The Expansion Of The Water Filtration Market
• Pentair Introduces Sustainable Water Filtration Device With Instaclean Technology
• Asia-Pacific was the largest region in the water filters market in 2023
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