USD 38.7 billion
Report ID: SQSG20D2019 | Region: Global | Published Date: November, 2022 | Pages: 165 | Tables: 117 | Figures: 77
Water Purifier Market size was valued at USD 38.7 billion in 2021 and is poised to grow from USD 42.74 billion in 2022 to USD 95.4 billion by 2030, growing at a CAGR of 10.5% in the forecast period (2023-2030).
Rising disposable income in emerging economies drives the expansion of the water purifier market. Customers' purchasing power increases as their income levels rise, raising their standard of living. In addition, the increased supply of safe water by municipalities and the rise in the number of water recycling treatments are fueling the demand for water purification systems in developing nations. Due to population skill growth and an increase in employment in service-oriented industries, certain emerging economies, including Brazil and China, have seen their discretionary income surge. As a result, there was an increase in the need for water purification systems in these industries, which has contributed to the growth of the water purifier market.
Hygiene methods have become more popular as global population concerns about health and wellbeing have grown. This is a crucial element that significantly aids in the expansion of the global industry. Additionally, the health of consumers in numerous places has improved due to the wide availability of healthcare services, changes in economic and social systems, and enhanced diagnostics. The demand for purifiers is therefore fueled by an increase in health awareness and an increase in the occurrence of waterborne infections.
US Water Purifier Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 38.7 billion
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The Global Water Purifier Market is segmented based on product type, category, portability, application, and region. Based on Product Type, Water Purifier Market is categorized into Point-of-use Filters and Point-of-entry Filters. The Point-of-use segment is further categorized into Under the Counter Filters, Counter Top Filters, Pitcher Filters, and Faucet-mounted Filters. Based on Category, Water Purifier Market is categorized into RO Filters, UV Filters, and Gravity Filters. Based on Portability, Water Purifier Market is categorized into Portable Water Purifiers and Non-portable Water Purifiers. Based on Application, Water Purifier Market is categorized into Residential and Commercial. Based on region, Water Purifier Market is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Water Purifier Market Analysis by Product Type
On the basis of product type, the point-of-use segment is currently dominating the global water purifier market. Point-of-use filters are compacted units that can be easily installed without taking up a lot of room. These filters are suited for light applications where water is utilized because of their modest volume capacity. Countertop filters accounted for a significant revenue share in the market for point-of-use water filters. A growing number of people are using RO point-of-use water filters because of their high water output and compact designs.
The market's second-largest product category is the point-of-entry filter segment. These systems are best used for domestic purposes and are typically installed at the mainline where raw water enters the home. Whole-house filters are the name given to these filters. The restroom, kitchen, refrigerator, toilet, and washing machine all receive the treated water. In comparison to point-of-use filters, point-of-entry filters are more expensive and have higher water treatment volumes.
Water Purifier Market Analysis by Category
On the basis of category, the RO filters segment is expected to dominate the global water purifier market over the forecast period. The premium RO water filters are made to generate high-quality bottled water. These advanced filters can get rid of 99 percent of pollutants. Due to their superior barrier against damaging minerals, RO filters are strongly suggested for treating hard water. These RO filters frequently block vital minerals like calcium, magnesium, and iron that affect water flavor.
The market's second-largest share belonged to the gravity filters sector. By the power of gravity, water is filtered in these filters. Water is filtered as it naturally flows from the top compartment to the bottom compartment. Additionally, gravity-based water filters are less expensive, simple to install anywhere, and powered neither by electricity nor running water. These kinds of filters have a long lifespan if properly & promptly replaced.
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Based on the region, the Asia Pacific region currently dominates the global water purifier market. Asia Pacific held the greatest market share for water purifiers globally in 2021. Japan is the second-largest stockholder after China. Although there is a lower adoption rate of these filtration devices in India, public awareness of waterborne illnesses and the harmful effects they have on the body's health is rising. A.O. Smith Corporation, Brita LP, as well as other large global players are also making significant investments in the Indian water purification sector. India is projected to expand at the quickest rate during the predicted period as a result. Developed nations with high rates of product penetration for water filtration include Japan, South Korea, Australia, and New Zealand.
The second-largest market share in the market was accounted for by Europe. Germany has the greatest market share in Europe, followed by the United Kingdom. The main element fueling the market's expansion in Europe is the rise in tap water usage. The third-largest market share belonged to North America. Due to the existence of various water purifier producers in the area and the developed market, the US is the main contributor to the growth of the North American market, followed by Canada. The majority of Americans are aware of how important clean water is. In order to have access to clean water, the majority of homes employ these purifying devices.
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Water Purifier Market Drivers
Water Purifier Market Restraints
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The well-known market participants are concentrating on releasing high-quality products with cutting-edge water purifying techniques. The major tactic employed by the market leaders for their success is a wide product portfolio, complemented by superior operational efficiency & new technologies. Additionally, filter pitchers and purifiers equipped with Wi-Fi are now available on the market. To meet the growing demand for potable water, market players are anticipated to provide more cutting-edge goods and services.
Water Purifier Market Top Players Company Profiles
Water Purifier Market Recent Developments
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According to the analysis, the global water purifier market is currently led by countries in the Asia Pacific region, due to the increasing installations of water purifiers in this region. Along with this, the RO filters segment is projected to lead the market due to the various advantages associated with it, over the forecast period.
|Market size value in 2021||USD 38.7 billion|
|Market size value in 2030||USD 42.74 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Water Purifier Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Water Purifier Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Water Purifier Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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