Pune, India, Dec. 20, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™, the global water purifier market size was USD 30.62 billion in 2022 and is anticipated to expand from USD 33.65 billion in 2023 to USD 54.48 billion by 2030, exhibiting a CAGR of 7.6% over the forecast period. The increase is fueled by the accessibility of diverse purifiers employing various technologies, including ultra-violet, reverse osmosis, and gravity-based purification methods.
The rapid expansion of the worldwide market, especially in residential and commercial sectors, has prompted major industry players to emphasize broadening their product ranges in emerging markets. For example, in September 2021, A.O. Smith strategically unveiled an innovative under-the-counter water treatment unit featuring UV plus silver-activated post-carbon technology in the Indian market. This product launch was designed to offer a unique combination of cutting-edge features, advanced purification technology, and aesthetic appeal. Fortune Business Insights™ in its research report, titled “Water Purifier Market, 2023-2030”.
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Scope and Segmentation of the Report:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 7.6% |
| 2030 Value Projection | USD 54.48 Billion |
| Market Size in 2022 | USD 30.62 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 180 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Water Purifier Market Growth Drivers | The significant demand is expected to drive the prominence of the residential segment. |
| Leading firms enter into partnership agreements to bolster the growth of the industry. |
Key Players Mentioned in the Water Purifier Market Report:
- Helen of Troy Limited (U.S.)
- Best Water Technology Group (Austria)
- Kent RO Systems Ltd. (India)
- The 3M Company (U.S.)
- Honeywell International Inc. (Switzerland)
- General Electric Company (U.S.)
- A. O. Smith Corporation (U.S.)
- Brita LP (U.S.)
- Pentair PLC (U.S.)
- Unilever PLC (U.K.)
- Panasonic Corporation (Japan)
- LG Electronics (South Korea)
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Drivers and Restraints:
The expansion of the water purifier market is driven by the diverse benefits associated with the use of these products. The consumption of purified water contributes to enhanced skin health, weight reduction, and improved digestive system function. Nevertheless, the high maintenance costs of water filters may pose a potential constraint on industry growth.
Segmentation:
Point-of-Use Filters Segment to Lead Driven by Ease of Fitting
Categorized by product type, the water purifier market is divided into point-of-use and point-of-entry filters. The point-of-use filters segment is anticipated to dominate the market throughout the forecast period, driven by the superior quality of water output these filters provide.
RO Filters Segment to Gain Traction Impelled by Presence of Excellent Barriers
Categorized by category, the market is segmented into UV filters, RO filters, gravity filters, and others. The RO filters segment is projected to experience significant growth during the forecast period, attributed to their effective barriers against harmful minerals.
Residential Segment to Emerge Prominent Impelled by Large Requirement
In terms of application, the water purifier market is divided into light commercial and residential segments. The residential segment is poised to exhibit significant traction throughout the analysis period, driven by the increased demand for water purification products due to rapid urbanization.
Based on region, the market for water purifiers has been analyzed across Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Regional Insights:
The rising awareness of waterborne diseases is anticipated to boost the market share of water purifiers in the Asia Pacific during the forecast period. The product has a high penetration rate in countries like New Zealand, Australia, South Korea, and Japan. The European market is expected to witness significant growth over the estimated period, fueled by the increasing adoption of water purifiers due to the rising use of tap water in the region.
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Competitive Landscape:
Major industry participants are adopting a range of strategic initiatives for strengthening their business positions. These comprise acquisitions, merger agreements, and the launch of new solutions. Some companies are also focused on forging partnership agreements and alliances for the expansion of their geographical footprints.
Report Coverage:
The report provides a comprehensive analysis of the primary factors propelling industry growth in the forthcoming years. Moreover, it offers in-depth coverage of major trends contributing to the overall improvement of the global business landscape over the projected period. Additionally, the report outlines the key initiatives undertaken by leading companies to fortify their market positions.
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Detailed Table of Contents:
- Introduction
- Market Segmentation
- Research Scope
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Trends
- Latest Technological Advancements
- Key developments: Acquisition, Collaboration, Strategic Partnership, and Joint Venture
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- COVID-19 Impact Analysis
- Supply Chain Challenges
- Steps taken by companies to overcome the COVID-19 impact
- Potential Opportunities due to COVID-19 impact
- Global Water Purifier Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type (Value)
- Point-of-Use Water Filters
- Countertop Filters
- Under the counter Filters
- Pitcher Filters
- Faucet-mounted Filters
- Others
- Point-of-Entry Water Filters
- Point-of-Use Water Filters
- Market Analysis, Insights and Forecast – By Category (Value)
- RO Filters
- UV Filters
- Gravity Filters
- Others
- Market Analysis, Insights and Forecast – By Application (Value)
- Residential
- Commercial
- Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Water Purifier Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type (Value)
- Point-of-Use Water Filters
- Counter top Filters
- Under the counter Filters
- Pitcher Filters
- Faucet-mounted Filters
- Others
- Point-of-Entry Water Filters
- Point-of-Use Water Filters
TOC Continued…!
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Read Related Insights:
U.S. Water Purifier Market to Reach USD 9.10 Billion by 2029 | United States Water Purifier Industry Register a CAGR of 5.8%
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