New York, US, Oct. 24, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Water Purifier Market Research Report: Information by Product Type, End-Use, and Region —Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 140,385.0 Million by the end of 2028. The reports further predict the market to flourish at a robust CAGR of over 17.58% during the assessment timeframe.
Water Purifier Market Overview:
Water purifiers are crucial for eliminating water-borne vectors, infection-causing bacteria, and toxins. Having access to safe drinking water is essential to maintain proper health. The bleeding-edge technologies of water purifiers are designed to make drinking water equitable from sustainable options. UV water purifiers and AI-based water purification systems are the latest trends in the market.
Key players active in the global water purifier market are-
- Unilever
- A. O. Smith
- EcoWater Systems LLC
- Coway Co., Ltd.
- Panasonic Corporation
- Livpure Pvt. Ltd.
- KENT RO Systems Ltd.
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A UV water purifier treats microbiologically unsafe water using ultraviolet (UV) radiation that restricts viruses, bacteria, and fungi from reproducing and replicating, destroying their DNAs. AI-based water purification system has emerged as the key enabler of the sustainable industries of tomorrow.
The growing adoption of AI-enabled water purification systems in one of the fastest growing and flourishing industries, like the hospitality industry, to offer better water quality offers significant market opportunities. Due to advancing technology, the global water purifier market will observe significant growth in the next few years.
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2028 | USD 140,385.0 Million |
| Growth Rate | CAGR of 17.58% from 2021 to 2028 |
| Base Year | 2020 |
| Study Period | 2021-2028 |
| Key Market Opportunities | Increase in per capita disposable income of Asia-pacific countries |
| Key Market Drivers | · Rapidly developing economy · Growing awareness of water-borne diseases |
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Industry Trends
The ever-increasing population worldwide boosts the market demand, creating the need for safe, clean drinking water. Also, rapid urbanization increases the usage of water purifiers, demanding clean and safe drinking water. The demand for drinking water has been tremendously growing due to the rapidly pharmaceutical industries worldwide.
Moreover, the availability of diverse product portfolios and various benefits of water purifiers substantiate market revenues. On the other hand, the price volatility of raw materials restricts the growth of the water purifier market. Nevertheless, the increasing use of water purifiers in the rapidly growing healthcare and hospitality industry would support market growth in future years.
Water Purifier Market Segments
The water purifier market is segmented into devices, products, end-users, and regions. The product segment comprises RO water purifiers, UV water purifiers, activated carbon filters, and others. Similarly, the device segment comprises countertop, wall-mounted, tabletop, faucet-mounted, under-the-sink (UTS), and others. The end-user segment comprises residential and commercial. The region segment is sub-segmented into Asia-Pacific, Europe, North America, and the Rest-of-the-World.
Regional Analysis
APAC dominates the global water purifier market, witnessing the growing demand from the residential and commercial sectors. Besides, the spurring rise in the commercial sector escalates the market value. The rising awareness of the clean drinking water benefits and growing prevalence of water-borne diseases, alongside government initiatives in the region, boost the market size.
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Additionally, the rapidly developing economy, industrialization, and growing population bolster the water purifier market revenues. China, Japan, and India are significant markets for water purifiers in the region. The growing utilization of water purifiers in the region attracts investors and encourages manufacturers to shift their production bases to these countries. The APAC water purifier market is likely to witness vast demand from residential sectors.
North America is another rapidly growing market for water purifiers. The increasing demand from food & beverage, cosmetics & personal care, and pharmaceutical industries boost the market size. With the large technological advances, the North American water purifier market is set to grow at a higher CAGR throughout the assessment period.
Europe is set to observe significant growth in the global water purifier market. The increased demand is fueled by stringent government regulations for safe drinking water. Germany, Italy, and the UK are projected to lead the water purifier market in this region owing to rapid technology upgrades and growing usage. The European water purifier market is predicted to witness rapid growth during the review period.
Competitive Analysis
The highly competitive global water purifier market looks diversified, with several well-established players forming a competitive landscape. These players adopt approaches such as mergers & acquisitions, collaborations, innovation, and product launches. Leading manufacturers strive to develop new products that can reach even higher efficiencies with lower or zero contaminations.
Consumer durables major acquire bigger plays eyeing investments in water purifier businesses. Such buyouts help industry players gain a hefty boost in their water purifier market shares. Players collaborate with research institutes or form partnerships with other players to design, develop, and manufacture cost-effective and highly configurable technologies. The market is likely to witness many product launches, further intensifying market competition.
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For instance, on Oct 07, 2022, AquaTru, a leading water purifier company, launched revolutionizing at-home water purification system - AquaTru Carafe. The new water purifier with a smaller countertop footprint is designed for individuals and smaller households. Reverse osmosis and an elegant half-gallon glass carafe allow easy pouring and storage in the fridge.
Leveraging AquaTru's proprietary and installation-free 4-Stage ultra reverse osmosis purification technology, AquaTru Carafe is proven to remove the most harmful contaminants from tap water. Reverse osmosis filtration technology is a gold standard in water filtration, significantly reducing many dangerous contaminants. It pushes contaminants through ultrafine filters removing particles larger than water molecules.
In another instance, on Sep 21, 2022, Xiaomi launched MIJIA Water Purifier 1600G with an OLED display-packing faucet. The new water purifier can output up to 1600 gallons of water at a flow rate of 4.25L/min, using a 100mm roll film to offer a 3:1 ratio for pure to wastewater. The new Xiaomi water purifier features the LPD low water pressure mode providing water in high-rise buildings with low water pressure.
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