Water Purifier Market Outlook 2031
The Global Water purifier market size was valued at USD 30.62 Billion in 2022 and is likely reach to USD 59.20 Billion by 2031, expanding at a CAGR of 7.6% during the forecast period, 2023-2031. Water purifier includes a range of devices that disinfect water from dangerous substances, microorganisms, chemicals, pathogens, and debris of dissolved solids to make it safe for use.
Water purifiers operate using various technologies such as UV technology, activated carbon, and reverse osmosis (RO). The demand for water purifiers has amplified over the last few years due to the increasing volume of contaminants, chemical substances, dissolved solids, and other debris in water.
Market Trends, Drivers, Restraints, and Opportunities:
- Consumer preference is shifting towards easy-to-use water purification devices. In developing nations, consumers prefer to low-cost water purifiers. This is expected to drive the market growth during the forecast period.
- New technology with real-time alerts is an advanced development that offers opportunity for market players. Increasing number of households is enhancing their smart home with water purifiers that offer water-quality monitoring on a regular basis.
- People are living in smaller spaces due to scarcity of land, thereby exploring compact water purifiers that are small in size and require less space, thus driving demand for portable water purifiers.
- Poor water management normally leads to the scarcity of water. This offers lucrative opportunities for water purifier manufacturers to expand their business operations. Manufacturers are focusing on the development of water purifiers to meet the demand from particular end-use industry. Old water facilities and systems in advanced nations require adoption of purifying devices to ensure safe water, which can further boost the expansion of water purifying market.
Scope of Water Purifier Market report:
The report on the global water purifier market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Water Purifier Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
2016 & 2021
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
Water Purifier Market Segment Insights:
UV & RO segment to hold a significant market share
On the basis of technology, the global water purifier market can be segmented into UV, RO, activated carbon filters, gravity-based, and others. Several consumers are demanding for UV & RO technology owing to advanced purifying qualities that is projected to boost UV & RO segment during the forecast period.
Many manufacturers are heavily investing in research & development activities to introduce advanced techniques in water purification such as reverse osmosis, ozone, ultra-violet, ultra-filtration, activated carbon, and candle filtration technology.
Retail Sales segment to hold a significant market share
Based on distribution channels, the global water purifier market can be divided into retail sales, direct sales, and online. The retail sales segment holds a major share of the water purifier market and is estimated to grow at a significant rate during the forecast period.
The segment growth can be attributed to the wide preference to in-store shopping experience among consumers from developing countries.
Water Purifier Market Regional Outlook
Asia Pacific constitutes a dominant share of the global market
In terms of regions, the global water purifier market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific, being a highly populated region, accounted for a substantial share of the global water purifier market.
The speedy growth of Asia Pacific market is attributed to the burgeoning commercial sector, increasing preference for purified water, and government initiatives. India represented a large share in the regional market for water purifiers.
North America is anticipated to constitute a significant share of the water purifiers market during the forecast period. The US is the leading consumer of water purifiers in North America.
- Activated Carbon Filters
- Wall Mounted
- Retail Sales
- Direct Sales
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- A.O. Smith Corporation
- BWT Aktiengesellschaft
- Brita GmbH
- Coway Co.
- Culligan International Company
- EcoWater Systems LLC.
- Eureka Forbes Limited
- Evoqua Water Technologies LLC
- GE Appliances
- KENT RO Systems Limited
- Kinetico Inc.
Major players in the global water purifier market include A.O. Smith Corporation, Aquatech, BWT Aktiengesellschaft, Brita GmbH, Coway Co., Culligan International Company, EcoWater Systems LLC., Eureka Forbes Limited, Evoqua Water Technologies LLC, GE Appliances, KENT RO Systems Limited, and Kinetico Inc.
Many companies have adopted research and development as a business strategy tool to withstand the competition. The strategy is aimed at providing better quality and new features products to customers.