Water purifier is an advanced device used to clean the water by removing unwanted and hazardous substances from the water. They effectively remove suspended particles, undesirable materials, chemicals, and gases from the water. They are classified into gravity purifier, RO purifiers, UV purifiers, sediment filter, and water softener. Rising water pollution due to various environmental factors such as industrialization around the globe have raised the demand for water purifier. The water purifier is available in different type such as a wall-mounted, tabletop, countertop, and faucet-mounted. They are widely used across industrial, commercial as well as household application.
The global water purifier market is estimated to be valued at US$ 78,939.1 billion in 2021 and is expected to exhibit a CAGR of 8.4% over the forecast period (2021-2028).
Recent Developments:
Asia Pacific held dominant position in the global water purifier market in 2020, accounting for 43.7% share in terms of volume, followed by North America and Europe, respectively.
Figure 1. Global Water Purifier Market Value (US$ Bn), by Region, 2020
Drivers:
Growing concern over water safety is expected to accelerate the growth of water purifier market. According to the WHO, eight billion people use a feces-contaminated drinking-water source and around 502,000 people die of diarrhea. For this government bodies are adopting various measures to overcome these issues. Thus, rising concern over water safety is expected to have positive impact on the market of water purifiers.
Increasing adoption of advanced technology for water purification systems to ensure the effective elimination of impurities from the water is driving growth of the market. Some of the major latest developments in water purification technology are acoustics nanotube technology, potable products, photocatalytic water purification technology, water filtration with nanotechnology, euglena biofiltration system, sun spring system, sunlight, and high tech materials.
Market Opportunities
Rising disposable income has increased purchasing power of the consumer is expected to raise the demand for water purifiers. Improving living standards coupled with the rising concern over water safety in developing countries and growing health-conscious people around the globe is further expected to accelerate the market growth of the water purifier.
The rising number of wastewater treatment plants around the globe is projected to foster the market growth of the water purifier. For instance, in September 2018, ACCIONA has opened a new facility of a new CA$700 billion wastewater treatment plant that will serve more than 200,000 residents and two First Nation communities in North Shore, part of the metropolitan area of Vancouver.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2020 | Market Size in 2021: | US$ 78,939.1 Bn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR: | 8.4% | 2028 Value Projection: | US$ 136,797.3 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
A.O. Smith Corporation, Aquatech International LLC, BWT Aktiengesellschaft, Brita, GmbH, Coway Co., Ltd., Culligan International Company, EcoWater Systems LLC, Eureka Forbes Ltd., Evoqua Water Technologies LLC, GE Appliances, Ion Exchange, Kaz USA, Inc., Kent RO Systems Ltd., Kinetico Inc., LG Electronics, Mitsubishi Rayon Cleansui Co., Ltd. , Panasonic Corporation, Pentair Plc, Koninklijke Philips N.V., Tata Chemicals Ltd., Unilever N.V., and Whirlpool Corporation |
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| Restraints & Challenges: |
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Market Trends
Rising trend of introducing unique design-based products such as discreet passive model, faucet mount design, under sink design, and multi-stage filter model. Moreover, the adoption of specifically membrane systems especially in the European region is further expected to propel the market growth of water purifiers over the forecast period.
Rising demand for UV and gravity-based purifiers is gaining traction in the market. A UV water purifier is used to treats contaminated water with germicidal ultraviolet light. UV lights prevent the spreading of disease by killing the bacteria present in the water and make it safe for drinking.
Figure 2. Global Water Purifier Market Share, By Technology, 2020
Key Takeaways of the Graph:
Market Restraints
The strong presence of small and medium enterprises (SMEs) that sells their products at competitive prices. This is expected to impact the market share of organized players in the region. This is expected to restraint the market growth of the water purifier.
The high cost of the water purifiers that have advanced technology is projected to restrict the adoption of water purifiers. This is projected to hamper the market growth of the water purifier.
Competitive Section:
Company Names
Recent Developments
LG Electronics
The water purifier is a system that is used for eliminating unwanted biological, chemical, and suspended particles from water. The purpose is to make water suitable for human consumption and other specific functions. Water purifiers differ from water treatment plants in that the latter has purifying purposes as well, whereas the former does not. Purifiers are very effective in removing harmful substances, such as lead, microorganisms, and others.
Market Dynamics:
Growing prevalence of water-borne disease is a prime factor driving growth of the water purifier market. According to the World Health Organization, some 829 000 people are estimated to die each year from diarrhea as a result of unsafe drinking-water, sanitation, and hand hygiene. In 2017, over 220 billion people required preventative treatment for schistosomiasis – an acute and chronic disease caused by parasitic worms contracted through exposure to infested water. Moreover, increasing number of health-conscious consumer around the globe is again fostering growth of the market.
On the other hand, high cost of the water purifier is expected to hinder growth of the market.
Key features of the study:
Detailed Segmentation
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