Water Purifiers Market Overview:
Market Research Future (MRFR) confirms that the Water purifier market is projected to be worth USD 82.54 Billion by 2030, registering a CAGR of 8.5% during the forecast period (2022 - 2030), The market was valued at USD 39.61 billion in 2022.
The global water purifiers market is demonstrating notably positive growth. The increasing population is driving the demand for clean water. Increased urbanization increases usage of water purifiers, demanding clean and safe drinking water. The demand for drinking water has been increasing tremendously owing to the pharmaceuticals and cosmetics industry.
Growing usages of diverse product portfolios and the vast range of benefits of water purifiers have considerably contributed to the demand in the market. Due to advancing technology, the global water purifiers market is expected to observe significant growth in the next few years. On the other hand, factors such as the price instability of the raw materials may restrict the growth of the global water purifiers market. Nevertheless, the increasing usages of water purifiers in hospitals and the hospitality industry would support the market growth throughout the review period.
Some of the global water purifiers market leaders are Unilever, A. O. Smith, EcoWater Systems LLC, Coway Co., Ltd., Panasonic Corporation, Livpure Pvt. Ltd., and KENT RO Systems Ltd., among others.
Industry/ Innovation/ Related News:
Sep. 10, 2021 – Havells, consumer durables major, announced its plan to acquire Eureka Forbes, eyeing a bigger play in the water purifier business in India. The buyout would help Havells gain a hefty boost in its negligible market share in the water purifier business. Currently, Forbes Co., a subsidiary of the listed entity, has initiated the process of demerging Eureka Forbes, seeking approval from the National Company Law Tribunal.
Global Water Purifiers Market – Segments
The study report is segmented into products, devices, end-users, and regions. The product segment is sub-segmented into UV water purifiers, RO water purifiers, activated carbon filters, and others. The device segment is sub-segmented into wall-mounted, countertop, tabletop, faucet-mounted, under-the-sink (UTS), and others. The end-user segment is sub-segmented into residential and commercial.
Water Purifiers Market - Regional Analysis
The Asia Pacific region dominates the global water purifiers market. Growing demand from the residential as well as commercial sectors, alongside the spurring rise in the commercial sector drives the market growth. Besides, rising awareness for the benefits of clean drinking water, growing water-borne diseases, and government initiatives in the region foster the market size.
Other key factors bolstering the water purifier market are the rapidly developing economy, industrialization, and growing population. China, Japan, and India hold considerable shares in the regional market. The growing consumption of water purifiers in the region would encourage manufacturers and investors to shift their production bases to these countries.
Water Purifiers Market - Competitive Analysis
The global water purifiers market looks diversified and highly competitive, with the presence of several large and small players churning the competition in the market. Mergers acquisitions, collaborations, innovation, and brand reinforcement are the key trends of matured players. These key manufacturers strive to develop new products that can reach even higher efficiencies with lower or zero contaminations.
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