Market Research Future has published a cooked research report on the Global Water purifier market, 2019–2028. The global water purifier market is projected to exhibit a CAGR of 17.58% during the forecast period of 2021 to 2028.
Market Research Future has recognized the following companies as the key players in the global water purifier market: Panasonic Corporation (Japan), Coway Co ltd (South Korea), Xiaomi Inc. (China), A. O. Smith (US), Unilever (UK), Eureka Forbes (India), BWT AG (Austria), Culligan (US), EcoWater Systems LLC (US) and Brita LP (US).
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Water Purifier Market Research Report
Market Highlights
The global water purifier market is projected to be valued at USD 140,385.0 million by 2028, recording a CAGR of 17.58% during the forecast period. Several factors are driving the growth of the market. Increasing awareness about water-borne diseases is majorly driving the market growth. Also, technological advancements in water purifier is projected to contribute to the water purifier market growth. Increasing per capita disposable income in Asia-Pacific provides a lucrative market to the existing players. However, high equipment and maintenance costs is restricting the growth of the market.
Segmental Analysis
The global water purifier market has been segmented based on product type, end-use and region.
Based on product type the global water purifier market has been segmented into RO water purifier, UV water purifier and activated carbon filters. The RO water purifier segment accounted for the largest market share of 54.72% in 2020. Reverse osmosis (RO) is a process that ensures the reduction of particles from any solution. RO technology works for the removal of contaminants from water by pushing the water through a semi-permeable RO membrane, which allows the passage of only water molecules and rejects almost all dissolved salts, organics, and bacteria.
Based on the end-use, the global water purifier market has been segmented into residential and commercial. The residential segment accounted for a larger market share of 72.47% in 2020. The residential segment is expected to grow due to the increasing population and rapid urbanization across the world. There has been a shift in the population to urbanized areas, especially in developing countries. This transition has increased the demand for pure water for drinking and cooking, driving the growth of the water purifier market.
Regional Analysis
On the basis of region, the water purifier market has been categorized as North America, Europe, Asia-Pacific, and the Rest of the World. As per MRFR analysis, Asia-Pacific dominates the water purifier market with a market share of 42.95% with a CAGR of 19.07% during the forecast period 2021-2028. With the highest population density in countries such as China and India, Asia-Pacific dominates the global water purifier market. The market has been experiencing rapid growth in the last two to three years, owing to the growing commercial sector, rising preference towards purified water, and government initiatives. The population of these regions has also been increasing, which is expected to boost market growth further. India has considerable demand for water purifiers. The key factors that are driving the Indian market is the rapidly developing economy, government initiatives for pure water, and growing population. For instance, ‘Jal Shuddhi,’ one of the plans of the Government of India, is expected to benefit around 47 million people, including several districts of states such as Punjab, Rajasthan, Andhra Pradesh, and Karnataka. Under this scheme, water purifiers will be installed in the villages affected due to contaminated water. North America accounted market share of 27.36% of the global water purifier market in terms of value in 2020 growing at a CAGR of 16.78% during the forecast period. North America is one of the largest markets for water purifiers during the forecast period. Factors that drive the regional market include the increased demand for household products, scarcity of clean water, and growing population. The growing awareness of water-borne diseases backs this. The US holds the largest share of the North America water purifier market. The rising concerns for optimal water use across all sections of society drive the market. The US Environmental Protection Agency (EPA) has also set several standards and rules based on the contaminant type for drinking water. Furthermore, growing water usage in commercial and household sector, high GDP rate in the US, and growth in the per capita household disposable income fuel the growth of the water purifier market in the US. Europe dominates the water purifier market with a market share of 21.83% with a CAGR of 15.11% during the forecast period 2021-2028. In the water purifier market, Europe is one of the key regions in terms of revenue. Countries such as Germany, France, and the UK are the leading markets for water purifiers in Europe. In Germany, the growing population and higher economic performance of the country are the major factors that have driven the market. However, the major factor that has driven the UK market is the rising preference for purified water, high standard of living of people, and initiatives to prevent water-borne diseases. Moreover, an increase in the number of households in Spain is driving the water purifier market in the country. For instance, according to the Instituto Nacional de Estadística (Spanish Statistical Office), the number of households in Spain has increased in 2020 and reached approx. 18,754,800, which represents a hike of 0.7% over the previous year (129,100 more homes). The increase in households requires clean and potable water, which is increasing the demand for water purifiers in the country. Rest of the World holds a market share of 7.87% of the global water purifier market in 2020, growing at a CAGR of 17.39% during the forecast period. The rest of the world comprises regions such as Latin America and the Middle East & Africa. Rising per capita disposable income and improved lifestyles drive the growth of the market for water purifiers in these regions. In Latin America, the water purifier market is growing at a decent pace, mainly due to a higher number of people being diagnosed with various water-borne diseases. According to the World Bank Group, In Latin America, three-quarters of the region’s wastewater is discharged into rivers and other water sources, which contaminates the water sources.
Key Findings of the Study:
- The global water purifier market is projected to register a growth rate of 17.58% from 2021 to 2028.
- The RO water purifier segment is estimated to retain its dominant share with 54.72 in 2020, whereas the UV water purifier segment is estimated to register the highest CAGR of 19.92% during the forecast period.
- The residential segment is estimated to retain its dominant position with a market share of 72.47% in 2020 and is estimated to register the highest CAGR of 18.48% during the forecast period.
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Companies Covered | 15 |
Pages | 100 |
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