Wilmington, Delaware, United States, July 21, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The worth of the global water purifier market stood at US$ 38.7 Bn in 2021. The market is likely to progress at a CAGR of 10.5% during the forecast period, from 2022 to 2031. The global water purification market size is estimated to attain value of US$ 95.4 Bn by 2031. The global market for water purifiers is expected to witness a considerable rise in the demand for portable purifiers during the forecast period. M market participants are anticipated to have plenty of prospects due to the expansion of trade and investment opportunities in developing countries.
Commercial and household settings are where water purifiers are most frequently utilized. Additionally, they are utilized by hikers, campers, military personnel, and individuals who live in places with a deficit of drinking water as well as by those in disaster-prone places. Systems for treating water at the point of use are another name for water purifiers.
Depending on the type of application, water filtration systems are available in a variety of sizes. One of the major factors likely to bolster growth of the water purifier market is the increasing adoption of online sales channels. The rapid urbanization throughout the world and extensive use of the Internet have caused the online platform to develop rapidly. Customers can evaluate various products with respect to characteristics, features, and pricing due to the growing prominence of online marketplace. Therefore, it is estimated that increase in water purifier sales on online platforms will drive the global market in the years to come.
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Key Findings of Market Report
- As people's knowledge about the contaminants in water supplies rises and more water purifier firms invest in unique marketing initiatives, more people are becoming increasingly aware about the advantages of using water purifiers. Rapid expansion of retail businesses in developing nations, emergence of online marketing, and expanding range of water purifiers offered through retail services are likely to drive revenue generation opportunities for the top water purifier manufacturers.
- Large volumes of water are used in the manufacturing and processing industries. Additionally, a water crisis has the most impact on these businesses. In order to tackle the problem of water pollution, which is a result of untreated water released by processing businesses, there is a rising demand for modern technology-enabled water treatment purifiers. There is likely to be an increase in the number of production facilities in the food and beverage sector is expected to present growth opportunities for the water purifier companies.
- Due to its mobility and convenience, portable water purifiers account for a significant portion of the global market for water purifiers. It is also a significant water purifier market segmentation. The ideal users of these purifiers are those who engage in sports activities including mountain climbing, camping and so on. As a result, with the rise in adventure and sports activities worldwide, a portable water purifier is considered the best water purifier for such activities.
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Global Water Purifier Market: Growth Drivers
- The pharmaceutical industry accounted for around 65% of the global market in 2018. By 2027, it is estimated that this market category will lose some market share, but despite this, it is expected to maintain its global dominance. This factor is likely to continue to boost the need for water purifiers, which is anticipated to be driven by new pharmaceutical products.
- Due to a rise in regional population, particularly in China and India, the Asia Pacific is predicted to lead the water purifier market throughout the forecast timeline. Since nuclear families and population rise, the number of households is also increasing. As a result, the market for water purifiers is expected to observe considerable growth in the years to come.
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Global Water Purifier Market: Key Players
Some of the key market players are
- Aquatech International LLC.
- 3M Purification, Inc.
- Whirlpool Corporation
- Kent RO System Ltd
- Pentair Plc.
- Coway Co., Ltd.
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Global Water Purifier Market: Segmentation
Portability
- Portable Water Purifiers
- Non-portable Water
Technology
- Gravity Purifier
- UV Purifier
- RO Purifier
End User
- Residential
- Commercial
Distribution Channel
- Online
- Offline
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