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Water Purifier Market - Growth Forecast Analysis by Manufacturers, Regions, Types and Applications to 2024

10-30-2017 06:50 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
The growing awareness about the water-borne diseases has augmented the demand for water purifiers across India. The uptake of water purifying technology is also expected to increase as growing number of consumers are expected to realize the benefits of consuming cleaner water. Owing to these reasons, the India water purifier market is expected to reach a valuation of US$4.1 bn by the end of 2024 as against US$1.1 bn in 2015. During the forecast years of 2016 and 2024, the overall market is expected to register a CAGR of 15.4%.

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Government Initiatives Push Consumers to Install Water Purifiers

India water purifier market is being fuelled by increasing awareness about the benefits of pure water, rampant urbanization, booming industrialization, and government initiatives through various policies and campaign about advantages of consuming clean water. Despite the strong market drivers, the challenge of educating the masses about the efficiency of these purifying technologies across rural India is expected to restrain the market. A huge chunk of the population still relies on boiling water to ensure purification. However, the rising adoption of water purifier in urban areas of India is anticipated to open up lucrative opportunities in the market.

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RO Water Purifiers Win Dominant Share in Overall Market

The various technologies available in the India water purifier market are gravity purifier, RO purifier, UV purifier, sediment purifier and water softener. The RO technology held a lion’s share of about 37% of the total market in terms of revenue, in 2015. Analysts anticipate that the gravity purifier is expected to exhibit a steady growth rate during the forecast period as the rural areas of India will incline towards using this technology. On the other hand, the water softener technology will register continuous growth as growing number of consumers are investing in RO and UV technology.

The various accessories sold in the market are faucet mount, water dispenser, under sink filter, pitcher filter, and shower filter. In 2015, water dispenser held a leading share in the overall market, accounting for nearly 30% of it. In the coming few years, the pitcher filter and under sink filter are also projected to show a noticeable growth rate.

Household Consumers to Show Interest in Water Purifiers during Forecast Period

The three end users of water purifier technologies are the household, industrial, and commercial sector. In 2015, the household segment accounted for a share of 55% of the overall end-user segment. This segment is expected to retain its dominance in the coming years as the demand for affordable and clean water in India household continues to be on the rise. Additionally, the demand for commercial water purifier technologies and solutions will also gain momentum as several small shops, cafés, and public places in India are complying to government initiatives of creating an availability of purified water across the country.

The key players operating in the India water purifier market are Whirlpool India Ltd. Hi-Tech RO Systems, Essel Nasaka, Eureka Forbes, Kent Ro system Ltd., Godrej Industries Ltd., Panasonic India Pvt. Ltd., Brita GmbH and Kaz USA, Inc. The market is quite consolidated due to the presence few leading players. However, in the coming years, the competition is expected to get stiffer due to the introduction of several small and local players.

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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