Water Purifier Market Research Report - Global Forecast till 2028

Water Purifier Market Research Report: Information By Product (RO Water Purifier, UV Water Purifier and Activated Carbon Filters), Devices [Wall Mounted, Countertop, Tabletop, Faucet-Mounted and Under-The-Sink (UTS)], End-User (Residential and Commercial) and Region - Forecast till 2030

ID: MRFR/IA - E/1617-CR | August 2020 | Region: Global | 185 pages

Water Purifier Market Overview


Water purifier market is projected to be worth USD 82.54 Billion by 2030, registering a CAGR of 8.5% during the forecast period (2022 - 2030), The market was valued at USD 39.61 billion in 2021. 


The water purifier is a device used for purifying drinking water. It functions using different technologies like activated carbon, UV technology, and reverse osmosis (RO). The water purifier is very essential these days and the demand for the purifiers has increased over the years due to the rise in contaminants, chemical substances, dissolved solids, and other materials. The water purifier makes the water purified by removing chemicals, unwanted materials, suspended solids, and gases. 


Market penetration in developed countries like Canada, the US, and Italy is relatively high and the developing countries like China and India remain untapped. Owing to the growing microbial and chemical contamination in the surface water sources, home water filtration is required mostly in metros and urban areas. To raise awareness regarding health and safety issues, the WHO (World Health Organization) conducted many campaigns that aim to educate the population regarding the causes of illness. The World Health Organization (WHO) states that sanitation, unsafe drinking water, and hand hygiene causes diarrhea for approximately 4 billion cases annually across the globe.


COVID-19 Analysis:


The COVID-19 pandemic spread from one place to another very fastly all over the world. To curb the spread of the virus, most of the country’s governments imposed lockdowns. The water purifier market is negatively impacted by this pandemic. This pandemic affected most of the business sectors drastically. Moreover, several countries witnessed the curfew-like situation that halts business operations. 


Due to the lockdowns, the manufacturing industries are facing various issues like lack of raw materials, shortage of labor, and supply chain disruptions. The manufacturing of water purifiers was halted temporarily leads to reduced product demand and interruptions in the component supply. Hence, in this way the market is highly impacted by the pandemic. Further, the introduction of advanced technologies in water purifiers and government initiatives to lift the lockdowns results in the growth of the market.


Competitive Landscape


The prominent key players in the water purifier market outlook are the following:



  • EcoWater Systems LLC

  • O.Smith

  • Panasonic Corporation

  • KENT RO Systems Ltd

  • Unilever

  • Coway Co., Ltd.,

  • Livpure Pvt Ltd


Recent Developments



  • In December 2019, one of the top key players, Kent RO Systems Ltd planned to develop a new manufacturing unit in the next three years with an investment of US$19 million. The company is aiming to add an annual capacity of 0.4 million through its third unit for increasing its revenue.

  • In April 2019, the highly populated vendor, Culligan International introduced ClearLink connect and Water Connect accessories which are connected to the drinking water system using a mobile app and Wi-Fi. This advanced technology allows consumers to regularly monitoring the economic and technical performance of drinking water systems.


Market Dynamics:


Drivers:


Growing awareness among the people regarding the ill effects of contaminated surface water leads to a significant shift in consumer preference towards technology-based water purifiers. Increasing awareness among people regarding water-borne diseases and the technological innovations in water purifiers are boosting the water purifier market growth. Growing income level surges the purchasing power of customers leads to an improved standard of living. The rise in the availability of safe water by municipalities and an upsurge in the number of water recycling treatments fuels the demand for water purification systems in developing countries.


Due to the skill development of the population and rise in employment in service-centered industries, the few emerging nations like Brazil and China witnessed a spur in disposable income. Thus the demand for water purifiers increases which propels the growth of the market. However, growing health consciousness and an upsurge in the incidence of waterborne diseases are accelerating the water purifiers market growth.


Restraint:


The water purifier requires high equipment and its maintenance also needs high costs which are hindering the market growth.


Opportunities:


The rise in per capita disposable income of Asia-Pacific countries boosts the growth of the market. The market players are investing heavily in research & development activities to design advanced technologies equipped with ultra-violet, ultrafiltration, reverse osmosis, activated carbon, and candle filtration technologies. Apart, purifiers equipped with Wi-Fi technology and filter pitchers are introduced in the market which may escalate the growth of the market.


Challenges:


The purification (POE) filters need to replace for every 5 to 6 years, while the POU filters need to change every 6 to 12 months which leads to an increase in the water purification cost. This high maintenance cost is the challenge of this market.


Segment Overview:


The global water purifier market has been divided into segments based on product, devices, end-user, and region.


Based on Product


The global market by product is trifurcated into RO water purifiers, UV water purifiers, and activated carbon filters. Among them, the RO water purifier segment holds the largest market share of 54.8% with the global water purifier market size of USD 27,481.7 million in 2019 and is expected to reach 17.13% CAGR during the review period. The RO purifiers are adopted due to their low electricity consumption, performance efficiency, and regular new technologies.


Based on Devices


The global market based on the devices is classified into wall-mounted, countertop, tabletop, faucet-mounted, and under-the-sink (UTS). Among them, countertop accounted largest revenue share.


Based on End-user


The global market by end-user is categorized into two types as residential and commercial. Out of these, the residential segment is holding the largest market of 71.9% with the market size of USD 36, 069.1 million in 2019 and is anticipated to reach the significant rate of 18.25% CAGR in the coming years. Due to the surge in the incidence of waterborne diseases, deteriorating water quality,  and rise in urbanization, the residential segment has witnessed demand in the industry.


Based on Region


Region-wise, the global market is divided into four main geographies such as Europe, North America, Asia-Pacific, and the Rest of the World. Asia-Pacific dominates the largest market share due to the presence of high population density in emerging countries like India, and China.


Regional Analysis -


Geographically, the water purifier market is analyzed into four main regions like Europe, North America, Asia-Pacific, and the Rest of the World. Out of these regions, Asia-Pacific holds the leading position in the market for the presence of high population density in emerging countries like China and India. Due to the rising commercial sector, rising preference towards purified water, and government initiatives, the growth of the market is boosting from the last two to three years. Water purifiers are highly demandable in India. The rapidly developing economy, growing population, and government initiatives for pure water are the factors driving the market growth in India. 


Due to the growing demand for household products, rising population, and scarcity of clean water, North America is anticipated to hold the largest share in the market. The rising awareness among people regarding water-borne diseases and the growing need for optimal water use across society are driving the market in this region.


Report Overview:


This global water purifier market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the market drivers, restraints, challenges, and opportunities. The global market forecast segments are product, devices, end-user, and region.


Segmentation Table


The water purifier market trends have been segmented globally based on the product, devices, end-user, and region.


By Product


RO water purifiers, UV water purifiers, and activated carbon filters are the three types of water purifiers. 


By Devices


Wall-mounted, countertop, tabletop, faucet-mounted, and under-the-sink (UTS).


By End-user


Residential and commercial.


By Region


Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in the market. 



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: USD 82.54 Billion
  CAGR   8.5% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product , Devices and End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   A. O. Smith, Unilever, EcoWater Systems LLC, Panasonic Corporation, Coway Co., Ltd., KENT RO Systems Ltd., and Livpure Pvt. Ltd.
  Key Market Opportunities   Increase in per capita disposable income of Asia-pacific countries
  Key Market Drivers

  • Rapidly developing economy
  • Government initiatives for pure water
  • Growing population
  • Growing awareness of water-borne diseases


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    Frequently Asked Questions (FAQ) :


    Water Purifier Market will be growing at a CAGR of 17.37% by valuation in the future.

    The growing awareness over the water-borne diseases and technological advancement of purifiers are factors leading to the water purifier market.

    North America, Europe, Asia-Pacific are the regions topping the water purifier market.

    In 2020, the global water purifier market was led by Asia-Pacific by revenue.

    North America is the second-largest market for water purifiers.

    Product, devices, end-user are the segments of the water purifier market.

    COWAY CO., LTD (South Korea), BWT AG (Austria), 3M (US), Hindustan Unilever Limited (HUL) (UK), Pentair Plc. (UK) Culligan (US) are the leading market players in the water purifier market.