Pune, May 20, 2021 (GLOBE NEWSWIRE) – Water Purifier Market Analysis
Market Research Future (MRFR) predicts the global water purifier market to reach a value of 82.6 billion USD, registering at a CAGR of 17.37% from 2020 to 2027 (forecast period).
Water purifiers are systems or equipment that purify drinking water. Water purifiers use a variety of technologies, including activated carbon, UV technology, and reverse osmosis (RO). The need for water purifiers has increased over time due to an increase in contaminants, dissolved solids, chemicals, and other materials.
Water quality is declining due to increasing water contamination caused by continued industrial expansion and the unmonitored discharge of wastes into water sources. In view of the growing consumer health concerns, the demand for water purifiers is expected to increase at a rapid rate during the forecast period.
Impact of COVID-19 on the Global Water Purifier Market
The global water purifier market has been hit in recent months due to lockdowns imposed in a number of countries around the world. Following the December 2019 pandemic outbreak, these lockdowns temporarily halted the development of water purifiers. Manufacturing companies face challenges due to declining demand for products and disruptions in the supply of components. In addition, many countries experienced curfew-like circumstances in which businesses (except essential services) were not allowed to operate, which had a negative impact on the demand for water purifiers. . A water purifier is a system that removes suspended solids, chemicals, unnecessary materials, and gases from water to make it suitable for a particular use. The water purifier market is primarily driven by a number of factors including increased knowledge of waterborne diseases and technological advancements in water purifiers. The high cost of equipment and maintenance may limit the growth of the water purifier market.
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The market is being propelled by a number of factors, including increased consumer awareness of the dangers of polluted surface water, which has resulted in a drastic shift in consumer preference for technology-based water purifiers in the market. whole world. The market share is comparatively higher in developed countries like the United States, Canada and Italy. Large semi-urban and rural areas in developing countries like China and India, on the other hand, remain untapped. Due to increasing microbial and chemical pollution of surface water supplies, home water filtration units are seen as a necessity, especially in subways and urban areas. The pandemic outbreak has severely hampered demand for water purifiers in recent months. However, demand for water purifiers is expected to rebound in the coming months as many governments plan to phase out lockdowns.
The global water purifier industry has been segmented on the basis of products, devices, and end user.
On the basis of the product, the global water purifier market has been segmented into RO water purifiers, UV water purifiers, and activated carbon filters. In 2019, RO water purifier segment held the largest market share of 54.8%, with a valuation of USD 27,481.7 million. It is expected to register a CAGR of 17.13% during the projected period.
On the basis of devices, the global water purifier market has been segmented into wall, countertop, tabletop, faucet and under sink (UTS) mounting.
Based on the end user, the global water purifier market has been segmented into residential and commercial. In 2019, the residential segment captured a considerable market share of 71.9%, with a valuation of $ 36,069.1 million. It is expected to register a CAGR of 18.25% during the forecast period.
Browse the in-depth market research report (140 pages) on Water purifier industry.
By region, the global water purifier market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific dominates the global water purifier industry, due to the highest population density in countries like China and India. The regional market has grown rapidly over the past two to three years due to the expansion of the commercial sector, growing consumer demand for purified water, and government initiatives. The population of these regions is also increasing which is expected to further drive the market growth. Water purifiers are in great demand in India. The rapidly changing Indian economy, government initiatives for pure water and growing population are the major factors driving the Indian market.
One of the major markets for water purifiers is North America during the forecast period. Increased demand for household products, lack of potable water and growing population are factors driving the regional market. This is supported by a better understanding of waterborne diseases. The United States represents the lion’s share of the North American water purifier industry. The market is accelerated by the growing need for optimal use of water in all strata of society.
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Supplier growth depends on market conditions, government support and industrial development. As a result, providers should focus on expanding their presence and improving their services. AO Smith, Unilever, EcoWater Systems LLC, Panasonic Corporation, Coway Co., Ltd., KENT RO Systems Ltd. and Livpure Pvt. Ltd. are among the main players operating in the global market.
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