Water Purifier Market to Grow at 11.9% CAGR by 2030
Rise in waterborne diseases, deteriorating quality of water due to pollution along with the increasing need of water purifiers in urban areas for purifying municipal water are among the key factors driving the growth of water purifier market.
The Water Purifier Market is expected to grow at a CAGR of 11.9% from 2021-2030, according to a new research report by Next Move Strategy Consulting.
Water purifier uses advanced technologies such as UV, RO to remove harmful chemicals from water. Most of the water supplied by municipalities in urban areas contain bacteria, toxin, zinc, mercury and virus and thereby, needs further purification to make it suitable for drinking. The demand for water purifier in developing countries has been increasing due to the scarcity of fresh water and growing practice of water recycling projects. However, presence of various substitutes in the market such as packaged drinking water, portable pump filter, and chemical disinfectants are expected to restrain the market growth.
Based on technology, the water purifier market is segmented into UV, RO, and gravity based. Based on distribution channel, the market is classified into retail sales, direct sales, and online. Based on portability, the market is divided into portable and non-portable. Based on end-user, the market is categorized into residential and commercial. Based on geography, the market is segmented into North America, Europe, Asia Pacific and RoW.
According to the report, Asia Pacific holds the lion share of the water purifier market during the forecast period, as the region accommodates almost 60% of the world’s population in countries including China, India, Vietnam, Thailand, Indonesia, and others. Europe holds the second largest market share due to increasing practice of water recycling projects, rising adoption of RO water purifiers, significant demand from the municipal and industrial sectors and stringent guidelines for water treatment.
However, North America is expected to grow steadily in terms of market share during the forecast period This is attributed to the factors such as surging number of waterborne diseases, industrial development leading to water pollution and rising health concerns.
According to the report, the key players of the market are Amway Corporation, A. O. Smith Corporation (Aquasana Inc.), Best Water Technology, Eureka Forbes Limited, Halo Source Inc., Kent Ro System Ltd., LG Electronics, Panasonic Corporation, Suez Water Technologies & Solutions (SUEZ), and Tata Chemicals Ltd.
Browse key industry insights from the report, “Water Purifier Market by Technology (UV, RO and Gravity based), by Distribution Channel (Retail sales, Direct sales and Online), by Portability (Portable and Non- portable), and by End User (Commercial and Residential)- Global Opportunity Analysis and Industry Forecast 2021-2030.”
Key Insights from the Water Purifier Market Report:
- Current emerging trends and opportunities are extensively analysed in the water purifier market report.
- The forecast of the water purifier market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report water purifier market- segmented by technology, distribution channel, portability, end- user and geography.
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