The Water Purifiers by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Water Purifiers, The water purifiers market size has grown strongly in recent years. It will grow from $32.47 billion in 2023 to $34.84 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increasing health awareness, technological advancements in water purifiers, economic growth in emerging markets, rise in disposable income, growing population, growing urbanization and government initiatives for pure water.
The water purifiers market size is expected to see strong growth in the next few years. It will grow to $47.23 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to scarcity of safe water, growing awareness of water-borne diseases, and growing water pollution levels. Major trends in the forecast period include investing in developing internet of things (iot) enabled water purifiers to capitalize on the changing consumer trends and to increase revenues, manufacturing solar powered water purifiers to reduce the environmental footprint of the products, developing customizable water purifiers to the growing popularity of these products and to increase revenues, collaborating or partnering with other companies to provide innovative products or post purchase services, and m&a growth strategies to expand the customer base and their geographic markets.
The scarcity of safe water is contributing to the growth of the water purifier market. According to the United States National Ocean Service, about 97.0% of the water on earth is salt water and the remaining 3.0% is available in the form of ice, vapor, groundwater, and freshwater sources. Factors such as growing industrialization, urbanization, and increased population are contaminating water with harmful contaminants. Contaminants in water can be found in the form of disinfection by-products, solvents and pesticides, arsenic, and others. Also, depleting water sources further adds to the safe water crisis across the globe. Water must be treated or purified before use and this is done by the water purifiers. In October 2020, according to a water quality report published by the Center for American Progress, more than 80,000 miles of rivers and streams are labelled as impaired due to nutrient pollution, and over 2.5 million acres of ponds, reservoirs and lakes are unsafe due to nutrient pollution in US. Therefore, the rise in the scarcity of safe water is expected to boost the demand for water purifiers over the forthcoming years.
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The water purifiers market covered in this report is segmented –
1) By Technology Type: RO Water Purifier, UV Water Purifier, Gravity-Based Water Purifier
2) By Portability: Portable, Non-Portable
3) By Device Type: Wall Mounted, Countertop And Tabletop, Faucet-mounted, Under-The-Sink (UTS)
4) By Distribution Channel: Retail Stores, Direct Sales, Online
5) By End-User: Industrial, Commercial, Household
The increased usage of internet of things technology (IoT) enabled water purifier is an emerging trend in the water purifiers market. The Internet of Things is a network that contains interrelated physical components which can be accessed using the internet for collecting and exchanging data. In water purifiers, the Internet of things is used to give information on the water quality, life of the filters, total dissolved solids levels, and service support. For instance, MI (Xiaomi), a Chinese smartphone manufacturer recently launched the Mi Smart Purifier which is app-enabled and can be linked to the Xiaomi Home app. The app gives the data of total dissolved solids (TDS), and remaining filter life. Most of the recent products nowadays are enabled by the internet of things, so it is expected to be an emerging trend in the water purifiers market.
The water purifiers market report table of contents includes:
- Executive Summary
- Water Purifiers Market Characteristics
- Water Purifiers Market Trends And Strategies
- Water Purifiers Market – Macro Economic Scenario
- Global Water Purifiers Market Size and Growth
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- Global Water Purifiers Market Competitive Benchmarking
- Global Water Purifiers Market Competitive Dashboard
- Key Mergers And Acquisitions In The Water Purifiers Market
- Water Purifiers Market Future Outlook and Potential Analysis
- Appendix
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