Market overview:
The water purifier market is expected to be worth USD 140,385.0 million by 2028, growing at a 17.58% CAGR between 2021 to 2028.
Increased water-borne infections have created a business boom in agricultural countries. It is also more successful than other water purifiers since it eliminates many impurities such as dissolved salts, heavy metals, bacteria, and pesticides. As a result, there is an increase in demand for RO water purifiers. Similarly, sulfate-free RO water is widely employed in many sectors, including pharmaceutical, food & beverage, semiconductor, and many others. The burgeoning middle class in emerging markets is driving growth in the water purifier industry. Rising income levels increase purchasing power among users and customers, eventually improving the quality of life. As a result, there has been a rise in interest in water filtration systems in these areas, which has aided in the growth of the water purifier market. The choice to use cleaning drills results from expanding worldwide concerns about welfare and development.
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This pandemic had a significant impact on most commercial sectors. Furthermore, some countries experienced a curfew-like scenario that halted economic activity. The industrial industries are experiencing various challenges due to the lockdowns, including a lack of raw materials, a manpower shortage, and supply chain disruptions. The temporary suspension of water purifier production results in lower product demand and disruptions in component supply. As a result, the pandemic has significantly influenced the market. Furthermore, the development of new technology in water purifiers, as well as government attempts to abolish lockdowns, contribute to the expansion of the water purifier market.
Market segmentation:
The worldwide water purifier market has been segmented by device, product, and end-user.
According to the device:
- Countertop
- Wall-mounted
- Tabletop
- Under-the-sink (UTS)
- Faucet-mounted
According to the product:
- UV water purifiers
- RO water purifiers
- Activated carbon filters
According to the end-user:
- Commercial
- Residential
- Industrial
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Regional analysis:
The water purifier market is segmented geographically into four major regions: Europe, Asia-Pacific, North America, and the Rest of the World.
Asia-Pacific is the market leader because of the high population density in rising nations such as China and India. The market has been growing in the previous two to three years due to the growing business sector, increased desire for filtered water, and government efforts. Water purifiers are quite popular in India. India’s growing population, fast-increasing economy, and government attempts to promote clean water are driving market expansion.
North America is expected to have the highest market share due to increased demand for home products, expanding population, and a lack of clean water. Rising public awareness of water-borne illnesses and the growing requirement for effective water usage throughout society are driving the market in this area.
Recent developments:
- In June 2022, A. O. Smith announced the all-cash acquisition of Atlantic Filter Corporation, a water purifying business organization serving residential, commercial, and industrial applications.
- BWT Group announced a multi-year extension of its agreement with Formula 1 in July 2021. Water stations will be installed throughout the paddock and at the club.
Key Players
- A. O. Smith
- Unilever
- EcoWater Systems LLC
- Panasonic Corporation Coway Co. Ltd.
- KENT RO Systems Ltd.
- and Livpure Pvt. Ltd.
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