Published On: December 2022
Drinking clean and safe water can help us feel better overall, including our digestion, weight loss, skin health, energy levels, and immune system. However, the poorer water quality that results in various waterborne illnesses puts our health in considerable danger. The WHO estimates that 3.4 million people die each year from waterborne infections brought on by consuming tainted water.
According to the water purifier market analysis, the water filtration industry is predicted to expand dramatically due to the rising number of deaths from diseases that are spread through water. In addition, as industrialization grows and waste, chemicals, and sewage are dumped into waterways, there is a growing need for point-of-use (POU) water purifiers on the market. Factors anticipated to fuel water filtration industry growth include rising consumer income levels and purchasing power and rising consumer awareness of the advantages of drinking purified water. Growing health consciousness and increasing urban demand for water purifiers to clean municipal water are anticipated to fuel the expansion of the water filtration industry.
According to the water purifier market outlook, the water purifier market is forecasted to be worth USD 140,385.0 million by 2028, at a CAGR of 17.58% during the projected period (2021 - 2028).
Multiple Advantages Of Using Water Filters To Increase Demand
POU water purifier removes harmful bacteria, viruses, and other contaminants to offer safe drinking water. Getting rid of giardia and cryptosporidium reduces the risk of digestive illness by 33%. It also eliminates chlorine and its metabolites, which lowers the risk of bladder and rectal cancer. Additionally, consuming clean water promotes weight loss, improved skin health, ideal energy levels, and a stronger immune system overall. With water treatment, purified water makes food taste better. Household water filters can reduce the overall quality of the water by removing minerals. The piping's lifespan increases, and the purification significantly decrease maintenance expenses at the water entering point.
Expensive Equipment And Up Keeping Acts As A Restraint
Adopting water filtration devices in residential and commercial settings comes at several expenses. Technological complexity, cutting-edge features, and system upkeep influence the high cost. These water treatment systems utilize recently developed purification and filtering technologies like UV, carbon filters, and RO. The price of water purification systems varies depending on how they are used and how far these technologies have come. Additionally, the cost of the water treatment is determined by the technologically cutting-edge features included in the systems, like Bluetooth connectivity, touchscreen displays, and sensor use.
The maintenance charges for the water filtration systems are one more expense connected with them. Reverse osmosis (RO) membrane and additional filters, including sediment filters and carbon filters, which are part of water purifiers, need routine maintenance after installation. Therefore, according to the water purifier market analysis, it is anticipated that the high equipment and maintenance costs will impede the growth of the worldwide water purifier market in the future. However, many significant water purifier manufacturers are planning to cut these expenses by improving water purifier maintenance services.
Supply Chain And Production Disruptions Caused By COVID-19 Will Slow Market Expansion
Although the water filtration sector belongs to essential services, the COVID-19 supply chain disruption has had a substantial negative influence on the global market expansion. Ongoing or partial lockdowns in important manufacturing nations brought on short-term production halts and changes in manufacturing schedules. For instance, due to "shelter in place" directives from the government, major providers of water purification systems experienced a manufacturing slowdown and operation halt. Due to the implementation of business continuity plans and mitigation measures by manufacturers and tier 1, 2, and 3 distributors, the water purifier market outlook predicts that the worldwide market will recover more slowly in the following years.
Regional governments are also changing loan regulations and boosting cash flow management to protect small and medium-sized manufacturing companies.
As per the water purifier market analysis, the sector has recently experienced tremendous growth due to altering lifestyles, particularly in metropolitan regions. The domestic authorities are required by the lack of drinking water to supply the populace with an acceptable amount. Companies like Eureka Forbes and Aquaguard have taken advantage of this chance to become the market leaders in the home market. The COVID-19 outbreak has harmed the world market for water purifiers. Because of lockdowns, water purifier production has been temporarily halted.