The water purifier market will reach $ 47.53 billion by 2028;
Pune, India, June 21, 2021 (GLOBE NEWSWIRE) – The world water purifier market size is expected to reach USD 47.53 billion by 2028, with a CAGR of 7.2% during the forecast period. The advent of a state-of-the-art smart water purifier will enhance healthy market growth, says Fortune Business Insights in a report titled “Water Purifier Market, 2021-2028 » the market size was USD 27.51 billion in 2020. The introduction of user-friendly purifiers will boost demand for the foreseeable future.
Impact of COVID-19:
Lack of manpower in manufacturing units to reduce the market
The disruption of the supply chain caused by the pandemic has resulted in immense loss to the global market. The labor shortage interrupted the production process at various facilities. For example, Pentair PLC, a leading supplier of water purification systems, experienced slow production and operations due to “safe-in-place” orders from governance. Nevertheless, some companies are adopting business plans to mitigate the effect of the epidemic. Likewise, governments are changing lending policies and supporting cash flow for small and medium-scale manufacturing.
According to WaterWorld magazine, in 2020 approximately 44% of Water and Wastewater Equipment Manufacturers Association (WWEMA) member manufacturers and 60% of WWEMA representative members were assisted by the Federal Payroll Protection Program in the United States.
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The list of major companies presented in the Global Water Purifier Market are:
- O. Smith Corporation (United States)
- Brita LP (United States)
- Pentair PLC (United States)
- Culligan International Company (United States)
- Unilever PLC (UK)
- Panasonic Corporation (Japan)
- LG Electronics (South Korea)
- Helen of Troy Limited (US)
- Best Water Technology Group (Austria)
- Kent RO Systems Ltd. (India)
- iSpring Water Systems LLC (United States)
- 3M Company (United States)
- Honeywell International Inc. (Switzerland)
- General Electric Company (United States)
- Eureka Forbes Ltd. (India)
Point-of-use filters segment to dominate the market
Based on the product type, the global market is categorized into point-of-use filters and point-of-entry filters. The point-of-use filters segment is further divided into undercounter filters, countertop filters, pitcher filters, faucet mounted filters and others. Based on the category, the market is categorized into RO filters, UV filters, gravity filters, and others. Based on the application, the market is categorized into residential and light commercial. The residential segment held the largest share in 2020.
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Growing Preference for Quality Drinking Water to Boost Water Purifier Market Growth
The increasing knowledge of drinking water quality standards in emerging countries will therefore promote the growth of the market during the forecast period. The advancement of water purification systems will allow rapid expansion of the market. Likewise, the establishment of point-of-entry and point-of-use filtration systems to remove pathogens has led to the proliferation of the market. The increasing use of this purifier for specific and general applications such as converting raw water to safe and improved quality water will further increase the market share of water purifiers.
Perpetual innovation in technological processes involving ultraviolet, reverse osmosis and gravity purifiers can be a vital factor increasing the market growth. The emergence of smart water purifiers with pioneering technologies will drive the adoption of purifiers in the residential and commercial sectors.
For example, in April 2019, Culligan International, a US-based water treatment company, announced the launch of ClearLink Connect and Drinking Water Connect accessories. Newly launched accessories can be connected through a mobile app, i.e.Culligan Connect, which allows users to monitor their drinking water systems and stay informed.
The report suggests?
The report reveals excellent market insights, systematic data with detailed analysis, market dynamics and aspects demonstrating the development and growth, meticulous insights into key market players, and statistics obtained about the dominant regions. .
Raising awareness of waterborne diseases to promote growth in Asia-Pacific
The Asia-Pacific region market held the lion’s share in 2020 and is expected to dominate the market during the forecast period. The growth in the region is attributed to a growing awareness of the adverse health effects of waterborne diseases in the region. The growing investment of leading companies such as Brita LP and AO Smith Corporation in the Indian market will significantly enable market growth in Asia Pacific.
The increasing adoption of this type of purifiers in Japan, South Korea, Australia, New Zealand and others will drive the market growth in the region. Europe is expected to hold a significant share of the global market due to the increasing implementation of purifiers among residents of countries like Germany, UK and France. The increasing consumption of tap water will further enhance the market growth in Europe. According to the German Association of Energy and Water Industries, around 83% of Germans drink tap water regularly or occasionally with an average consumption of nine liters per person per week.
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Detailed table of contents:
- Scope of research
- Market segmentation
- Research methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Key ideas
- Key trends
- Latest technological advances
- Overview of the regulatory scenario
- Porters Five Forces Analysis
- Main developments: acquisition, collaboration, strategic partnership and joint venture
- COVID-19 impact assessment
- Supply chain challenges
- Actions taken by businesses to overcome the impact of COVID-19
- Potential opportunities due to the impact of COVID-19
- Global Water Purifier Market Analysis, Outlook and Forecast – by Product Type, 2017-2028
- Main conclusions / Summary
- Market analysis, information and forecast – by product type
- Point of use water filters
- Countertop filters
- Under the counter filters
- Pitcher filters
- Tap mounted filters
- Point-of-entry water filters
- Point of use water filters
July 2019: Pentair PLC, a water treatment company, has announced a partnership agreement to acquire Pelican Water Systems, a manufacturer of environmentally friendly water softeners and filtration systems. The deal involved a US $ 120 million transaction to expand its geographic footprint.
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