New York, US, June 13, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Water Purifier Market Research Report Information by Region, Product Type, and End-Use - Forecast Till 2030”, the water purifier market is predicted to grow substantially over the assessment timeframe from 2022 to 2030 at a healthy CAGR of around 17.58%. The reports even share predictions regarding the market's growing revenue share, which is likely to attain a market of USD 175.54 billion by the end of 2030. As per the study documents, the market was worth around USD 56.5 billion in 2022.
Water Purifiers Market Overview:
The global water purifier market has advanced enormously. The primary aspect causing a surge in the performance of the market is Smart Purification's development. Furthermore, the various benefits of water filters are also considered to be one of the crucial parameters enhancing market development. Moreover, the advent of smart purifiers with cutting-edge technologies and growing awareness regarding clean water will likely catalyze the market's growth over the coming years.
Competitive Analysis
The catalog of the top leaders across the global Market for Water Purifiers includes players such as:
- KENT RO Systems Ltd.
- O. Smith
- Panasonic Corporation Coway Co. Ltd.
- Unilever
- Livpure Pvt. Ltd.
- EcoWater Systems LLC
- Among others.
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Water Purifier Market USP Covered
Market Drivers
The global Water Purifiers industry has advanced enormously in recent years. The primary aspect causing a surge in the performance of the market is Smart Purification's development. Furthermore, the various benefits of water filters are also considered to be one of the crucial parameters enhancing market development. Moreover, the advent of smart purifiers with cutting-edge technologies and growing awareness regarding clean water will likely catalyze the market's growth over the coming years.
Market Restraints
However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 175.54 billion |
| CAGR during 2022-2030 | 17.58% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Operating Platforms, and Region |
| Key Market Opportunities | Increase in per capita disposable income of Asia-pacific countries |
| Key Market Dynamics | Rapidly developing economy Government initiatives for pure water Growing population |
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Water Purifier Market COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Water Purifiers industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era.
Water Purifier Market Segment Analysis
Among all the product types, the RO-based product sector secured the leading position across the global market for water purifiers in 2022, with the largest contribution of nearly 38.00%. The main parameter supporting the segment's expansion is that it outperformed other products in terms of decontamination. In addition to removing microorganisms, RO-based purifiers also remove dissolved solids, pesticides, and heavy metals. Consumers are more concerned about the health concerns associated with tainted drinking water because of the rise in waterborne illness incidents. In addition, it is predicted that over the next few years, demand for residential water purifiers will rise because of the growing penetration of low-cost residential water purifiers.
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Among all the end-users, the residential sector secured the leading position across the global market for water purifiers in 2022. Residential buildings utilize much more water for daily activities like bathing, cleaning, cooking, and other activities than commercial buildings. In addition, growing urbanization is predicted throughout the forecast period to escalate the demand for water purification products.
Water Purifier Market Regional Analysis
The Global Market for Water Purifiers is analyzed across five major parts: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
The research documents by MRFR indicate that the Asia-pacific Region had the top position across the global Water Purifiers industry in 2022 with the largest contribution of nearly USD 25.9 billion, contributing around 45.80%. India, China, and Indonesia are the leading development contributors in the region. Further, the China Water Purifier Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The main aspect supporting regional market expansion is the massive number of participants and significant expenditures in R & D. Furthermore, businesses such as Eureka Forbes have a significant customer base and are also anticipated to positively impact the growth of the regional market over the coming years.
The European Region is anticipated to secure the second position across the global Water Purifiers industry over the coming years. The region has France, Germany, and the U.K. as the leading development contributors. Further, the German Water Purifier Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The main parameter supporting the development of the regional market is the rise in tap water usage.
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The North American is anticipated to hold the third position across the global Water Purifiers industry in 2021. The region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Water Purifier Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional market expansion is the existence of water purifier manufacturers in the area. Furthermore, the presence of developed markets across the region, with the U.S. as the main contributor to the growth of the North American market. The majority of the houses employ these purifying devices to have access to clean water.
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