Dublin, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The "Water Purifier Market by Technology, by Portability, by Distribution Channel, and by End-User: Global Opportunity Analysis and Industry Forecast, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
Water Purifier Market size was valued at USD 36.55 billion in 2021 and is projected to reach USD 82.66 billion by 2030 with a CAGR of 8.2% during the forecast period, 2022-2030.
Water purifiers are increasingly in demand due to the growing water pollution caused by rapid industrialization and urbanization, chemicals and sewage in water bodies, and the disposal of wastes. Also, the growing concern and awareness regarding the benefits of drinking purified water such as improved digestion, a stronger immune system, and aid in skin health are expected to propel the growth of the water purifier industry.
Further, the integration of advanced technologies such as artificial intelligence (AI) and the internet of things (IoT) in smart water purifiers that are easy to use and have multiple stages of purification stimulates the UV water purifier market.
However, the high maintenance cost of filters is expected to limit the water purifier market's growth during the forecast period. On the contrary, the increasing implementation of nanotech-based water purification processes that are regarded as highly efficient, cost-effective, and able to trace elements such as arsenic compared to conventional water purification systems is anticipated to create ample growth opportunities for the water purifier market in the coming years.
Segment Overview
The global water purifier market is segmented based on technology, portability, distribution channel, end-user, and geography.
- Based on technology, the market is classified into UV, RO, and gravity-based.
- Based on portability, the market is segmented into portable and non-portable.
- Based on distribution channels, the market is categorized into retail sales, direct sales, and online sales.
- Based on end-users, the market is bifurcated into commercial and residential.
- Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and RoW.
Regional Analysis
The Asia-Pacific market is projected to remain dominant through 2030
Asia-Pacific dominates the global water purifier industry and is expected to remain dominant in the market throughout the forecast period. This is attributed to proactive government initiatives through various policies and campaigns about the advantages of consuming clean water.
Moreover, aggressive marketing campaigns and the development of innovative water purifiers by key players are increasing sales that boost the RO water purifier market in this region. For instance, in October 2021, LG announced its new 2021 range of water purifiers in three models, WW184EPB, WW184EPC, and the WW174NPC, equipped with a new RO recovery plus filter. The new range of water purifiers is equipped with a new RO recovery plus filter that helps recover more than 60% water.
Key Market Players
Some of the emerging and leading key players in the water purifier market include:
- Evoqua Water Technologies
- Whirlpool Corporation
- 3M Company
- Pall Corporation
- Suez Water Technologies and Solutions
- Pentair Plc
- Brita LP
- Veolia
- LG
- Unilever PLC
- Kent RO Systems
- A.O. Smith Corporation
- Eureka Forbes
- Coway Co Ltd.
- General Electric Company
Recent Developments
June 2022
Evoqua Water Technologies announced that it has entered into a definitive agreement to acquire a privately-held firm, Smith Engineering, Inc. The acquisition would enhance Evoqua's portfolio of high-purity water treatment systems and expand its service footprint across North America.
June 2022
A.O. Smith announced a strategic acquisition of Atlantic Filter Corporation, a Florida company, for water purification in a monetary transaction. This acquisition enabled them to expand its capabilities and grow its water treatment business in North America.
March 2022
LG Electronics expanded its water purifier portfolio with the launch of the UF+UV Water Purifier in India. The purifier comes with a new Post CarbonFilter, a technology that uses electrostatic absorption to eliminate viruses from water.
Market Dynamics
Drivers
- Emergence of Smart Purification
- Multiple Benefits Associated With the Use of Water Purifiers
- Increasing Regulation on Industrial and Municipal Wastewater Disposal
Restraints
- High Cost of Water Purifiers Along With Energy Consumption and Maintenance
Opportunities
- Introduction of Nanotechnology in Water Purifiers
Key Topics Covered:
1. Introduction
2. Water Purifier Market - Executive Summary
3. Market Overview
4. Market Share Analysis
5. Global Water Purifier Market, by Technology
6. Global Water Purifier Market, by End Use
7. Global Water Purifier Market, by Distribution Channel
8. Global Water Purifier Market, by Portability
9. Global Water Purifier Market, by Region
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/rk37w
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