The water purifier market is projected to be worth USD 140,385.0 million by 2028, registering a CAGR of 17.58% during the forecast period (2021 - 2028).
The global water purifier market is projected to register a CAGR of 17.58% and reach a value of USD 140,385.0 million by 2028.
A water purifier is a system or equipment used for the purification of drinking water. water purifiers & filters with the help of different technologies such as activated carbon, UV technology, and reverse osmosis. Due to an increase in the contaminants, dissolved solids, chemical substances, and other materials, the need for water purifiers & filters has been increasing over the years.
With the spread of COVID-19 around the globe, water purifier market manufacturers are taking extreme measures in the form of plant closures to curb the spread of COVID-19. The situation remains uncertain as an increasing number of European companies have suspended work, and manufacturers in the US and APAC regions have extended the shutdown periods. Declared a pandemic by the World Health Organization (WHO), COVID-19 has compelled the governments of several countries to impose lockdowns in an effort to reduce its spread. However, these lockdowns have impacted various industries as well as the normal lives of people across the world. It is predicted that the impact of the virus is going to be felt through the end of 2021. So, the governments of various countries are finding alternative means to bring their operations back to normalcy by introducing rescue packages or disaster management bills to boost their economies.
The COVID-19 pandemic has impacted the reverse osmosis (RO) water treatment system component market positively. As per the World Health Organization’s (WHO), the coronavirus can rapidly spread through drinking water and sewage water. This factor is expected to drive the adoption of RO water treatment systems during the COVID-19 outbreak. However, the demand for water purification through 2020 is expected to be lower than the pre-Covid period.
So far, the coronavirus has not been detected in drinking-water supplies and based on current evidence, the risk to water supplies is low. In places where safe piped water supplies and centralized water treatment systems are not available, some household water treatment technologies have been found to be effective in removing or destroying viruses by using ultrafiltration or nanomembrane filters and UV irradiation filters.
The regional impact of the pandemic outbreak is highly variable, but as it spreads, the status in the harder hit areas provide a glimpse of what may be witnessed in the near future. Asian countries, European nations, South and North American countries, and several other regions have been impacted significantly. Every country is at a different stage of this pandemic and is facing a unique set of problems. Water purifier manufacturers are facing challenges such as a decrease in the workforce, that too with the required precautions. So, ensuring the health safety of employees, along with an optimal production rate, has become a challenge for water purifiers & filters manufacturers, and the recovery process may require months to get back on track in the post-pandemic period.
The Global Water Purifier Market is expected to grow at a CAGR of 17.58% during the forecast period 2021-2028. Several factors are driving the growth of the market. Increasing awareness about water-borne diseases is majorly driving the market growth. Also, technological advancements in water purifier market are projected to contribute to the water purifiers growth. Increasing per capita disposable income in Asia-Pacific provides a lucrative market to the existing players. However, high equipment and maintenance costs is restricting the growth of the Water Purifier market.
Segments By Drivers:
The World Health Organization (WHO) organizes many campaigns to raise awareness regarding health and safety issues among individuals. Such campaigns are often aimed at educating the population regarding the causes of illness. According to the WHO, unsafe drinking water, sanitation, and hand hygiene lead to approximately 4 billion cases of diarrhea, every year, across the globe. The consumption of impure water or contaminated water is directly linked to the occurrence of several diseases, including cholera, diarrhea, dysentery, and typhoid. The rising cases of cholera and other serious illnesses such as guinea-worm disease, typhoid, and dysentery are increasingly prompting individuals to drink pure water, creating a demand for water purifiers & filters.
Governments across the world are taking initiatives for supplying clean and purified water. For instance, in December 2020, Honourable Marc Miller, Minister of Indigenous Services announced an investment of USD 1.5 billion for clean drinking water as well as USD 114.1 million per year from 2020 onwards to support daily operations and maintenance for water infrastructure on reserves. Additionally, initiatives by the Government of India, such as Jal Suddhi, which is one of the plans of the government, are expected to be launched in the next few years. Jal Suddhi is aimed at providing clean and purified water to over 21,000 habitations, including several districts in various states, and is expected to benefit around 47 million people. Under such schemes, water purifiers are expected to be installed in villages affected due to contaminated water. Thus, increasing awareness about water-borne diseases is expected to drive the growth of the global water purifier market during the forecast period.
The demand for water purifiers is limited in certain regions where the cost of the purification system is still a more prominent factor than the health of people. However, the scenario is changing with a rise in the number of diseases due to contaminated water. Such a change is expected to shift the impact of the increasing awareness about water-borne diseases on the global water purifier market from moderate to high over the forecast period.
Segments By Restraint:
There are several costs associated with the adoption of water purification systems in households and commercial spaces. The high cost is dependent on factors such as the complexity of technology, advanced features, and maintenance of such systems. These systems use purification and filtration technology such as UV technology, carbon filter, and RO, which have evolved over the last few years. The cost of the water purification systems varies as per the use and advancements in these technologies. Furthermore, the price of the water purification systems depends on the technologically advanced features incorporated into the systems such as touchscreen display, use of sensors, and Bluetooth connectivity.
Additionally, there are other costs associated with the water purification systems, such as the maintenance cost. Post-installation, the components of water purifiers, such as reverse osmosis (RO) membrane and other filters such as sediment filters and carbon filters, require regular maintenance at regular intervals. Thus, the high equipment and maintenance costs are expected to restrict the growth of the global water purifier market during the forecast period. However, many key water purifier manufacturing companies are strategizing to reduce these costs by investing in the improvement of water purifier maintenance services. Thus, the impact of the high equipment and maintenance costs on the global water purifier market share is expected to shift from high to moderate during the forecast period.
Segments By Opportunities:
The per capita income in developing countries in Asia-Pacific has been increasing in the last few years. Countries such as China, India, Indonesia, Thailand, and the Philippines have stable household incomes. Their financial strength is further expected to increase their purchasing power and improve their lifestyles.
The improving lifestyles of individuals in Asia-Pacific are increasing concerns regarding water-borne diseases and water contamination. Such factors are expected to increase expenditure on the installation of water purifier systems.
The awareness regarding consumption of clean water is backed by high household income, which would lead to a higher demand for water purifiers both in households and at workplaces in developing countries. Thus, the increasing per capita disposable income in Asia-Pacific is expected to create opportunities for the players in the global water purifier market during the study period.
Global Insights By Product Type
Based on product type the global water purifier system market has been segmented into RO water purifier, UV water purifier and activated carbon filters. The RO water purifier segment accounted for the largest market share of 54.72% in 2020. However, the UV water purifier segment is projected to register a higher CAGR of 19.92% during the period of 2021-2028.
Global Insights By End-Use
Based on the end-use, the global water purifier market has been segmented into residential and commercial. The residential segment accounted for a larger market share of 72.47% in 2020 and is projected to register a higher CAGR of 18.48% during the forecast period.
Global Water purifier Market Share, by region, 2020 (%)Sources: MRFR Analysis
By region, the global Water purifier market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific accounted for the largest market share of 42.95% in 2020, the market is expected to register the highest CAGR of 19.07% during the forecast period. North America was the second-largest market in 2020, the market is projected to exhibit a CAGR of 16.78%.
Asia-Pacific Industry Analysis
Asia Pacific region is accounting for 42.95% of market proportion in the year of 2020 and it is projected to expand at a high CAGR of 19.07% the forecast period of 2021-2028. With the highest population density in countries such as China and India, Asia-Pacific dominates the global water purifier market. The market has been experiencing rapid growth in the last two to three years, owing to the growing commercial sector, rising preference towards purified water, and government initiatives. The population of these regions has also been increasing, which is expected to boost market growth further. India has considerable demand for water purifier market. The key factors that are driving the Indian market is the rapidly developing economy, government initiatives for pure water, and growing population. For instance, ‘Jal Shuddhi,’ one of the plans of the Government of India, is expected to benefit around 47 million people, including several districts of states such as Punjab, Rajasthan, Andhra Pradesh, and Karnataka. Under this scheme, water purifiers will be installed in the villages affected due to contaminated water.
North America Industry Analysis
North America is also accounting for significant market share in the global water purifier market in the year of 2020 and is expected to grow at a CAGR of 16.78% during the forecast period 2021-2028. North America is one of the largest markets for water purifier market during the forecast period. Factors that drive the regional market include the increased demand for household products, scarcity of clean water, and growing population. The growing awareness of water-borne diseases backs this. The US holds the largest share of the North America water purifier market. The rising concerns for optimal water use across all sections of society drive the market. The US Environmental Protection Agency (EPA) has also set several standards and rules based on the contaminant type for drinking water. Furthermore, growing water usage in commercial and household sector, high GDP rate in the US, and growth in the per capita household disposable income fuel the growth of the water purifier market in the US.
The water purifier system market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have a global reach and diverse product portfolios. Companies such as Panasonic Corporation (Japan), Coway Co ltd (South Korea), Xiaomi Inc. (China), A. O. Smith (US), and Unilever (UK) dominate the global market due to brand reputation, product differentiation, financial stability, and diversified regional presence.
Prominent players in the global water purifier market include Panasonic Corporation (Japan), Coway Co ltd (South Korea), Xiaomi Inc. (China), A. O. Smith (US), Unilever (UK), Eureka Forbes (India), BWT AG (Austria), Culligan (US), EcoWater Systems LLC (US) and Brita LP (US).
Few developments that occurred in recent times influencing the growth of Water purifier market are listed below:
Water Purifier Market Outlook by Product Type
Water Purifier Market Outlook by End-Use
Water Purifier Market Outlook by region
|Market Size||140,385.0 million|
|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||
Water Purifier Market share will be growing at a CAGR of 17.58% by valuation during 2021 - 2028.
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.
Eureka Forbes, KENT, AO Smith, Ion Exchange, LG Electronics India Private Limited, Tata Chemicals, Okaya Power, Aquapot, and many others.
RO Water Purifiers
UV Water Purifiers
Activated Carbon Filters
segments are the best to sell.
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.