Pune, India, Aug. 10, 2023 (GLOBE NEWSWIRE) -- 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 surge is driven by the availability of various purifiers with a range of technologies such as ultra-violet, reverse osmosis, and gravity-based purification processes.
This information is provided by Fortune Business Insights™ in its research report, titled “Water Purifier Market, 2023-2030”.
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List of Key Players Mentioned in the Water Purifier Market Report:
- A. O. Smith Corporation (U.S.)
- Brita LP (U.S.)
- Pentair PLC (U.S.)
- Culligan International Company (U.S.)
- Unilever PLC (U.K.)
- Panasonic Corporation (Japan)
- LG Electronics (South Korea)
- Helen of Troy Limited (U.S.)
- Best Water Technology Group (Austria)
- Kent RO Systems Ltd. (India)
- iSpring Water Systems LLC (U.S.)
- The 3M Company (U.S.)
- Honeywell International Inc. (Switzerland)
- General Electric Company (U.S.)
Report Scope & Segmentation:
| 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 |
|
| Regions Covered |
|
| Water Purifier Market Growth Drivers | Residential Segment to Emerge Prominent Impelled by Large Requirement |
| Key Companies Ink Partnership Deals to Strengthen Industry Expansion |
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Segmentation:
Point-of-Use Filters Segment to Lead Driven by Ease of Fitting
By product type, the market for water purifiers is fragmented into point-of-use and point-of-entry filters. The point-of-use filters segment is expected to lead the market over the projected period. The surge is on account of the high-quality water output of these filters.
RO Filters Segment to Gain Traction Impelled by Presence of Excellent Barriers
Based on category, the market is classified into UV filters, RO filters, gravity filters, and others. The RO filters segment is estimated to register considerable expansion throughout the forecast period. The expansion is due to the presence of excellent barriers against harmful minerals.
Residential Segment to Emerge Prominent Impelled by Large Requirement
By application, the market for water purifiers is categorized into light commercial and residential. The residential segment is set to depict notable traction throughout the analysis period. The rise is propelled by the rapid urbanization that elevates the demand for water purification products.
Based on region, the market for water purifiers has been analyzed across Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
COVID-19 Impact:
Industry Expansion Impacted on Account of Disruptions in Supply Chain
The market growth was affected amid the COVID-19 pandemic driven by continuous lockdowns across major manufacturing countries. The restrictions led to short-term halts in production. However, the market is set to recover on account of the implementation of mitigation strategies and business continuity plans.
Report Coverage:
The report offers an in-depth analysis of the significant factors impelling the industry expansion over the forthcoming years. It further provides comprehensive coverage of the major trends boosting the global business scenario throughout the projected period. It also gives an account of the key initiatives undertaken by leading companies for reinforcing their market footing.
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Drivers and Restraints:
Escalation in Market Value Owing to Numerous Benefits of Water Filters
Water purifier market growth is being propelled by the wide range of benefits associated with the usage of these products. The consumption of clean water helps in the improvement of skin health, reduction of weight, and the improvement of the digestive system.However, the high costs associated with the maintenance of water filters could restrain industry expansion to some extent.
Regional Insights:
Asia Pacific to Dominate Driven by Rising Product Usage
Surging awareness regarding waterborne diseases is expected to augment the water purifier market share in the Asia Pacific over the forecast period. The penetration rate of the product is high in countries such as New Zealand, Australia, South Korea, and Japan. The Europe market is slated to expand at a considerable pace over the estimated period. The surging product adoption is driven by the increasing use of tap water in the region.
Competitive Landscape:
Key Companies Ink Partnership Deals to Strengthen Industry Expansion
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.
Key Industry Development:
January 2022 – Pentair announced the launch of Pentair Water Solutions, an updated website focused on offering a range of innovative solutions for residential water treatment issues.
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Detailed Table of Content:
- 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
- Counter top 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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