Analysts’ Perspective on the Global Market for Water Purifier
The global water purifier market is anticipated to witness a rapid growth in the residential segment because of rise in health concerns amongst households. Residential users accounted for the largest share of the overall market in 2020. Moreover, the segment is anticipated to witness prominent growth in developing countries, such as China and India in the coming years, owing to increase in scarcity of clean drinking water and surge in awareness toward health and hygiene.
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Global Water Purifier Market Introduction
According to a new report published by Allied Market Research, titled global water purifier market was valued at $29,998.15 million in 2020, and is estimated to reach $92,082.60 million by 2031, growing at a CAGR of 10.1% from 2022 to 2031.
LAMEA is expected to grow at the highest CAGR of 12.3% during the forecast period, followed by Asia-Pacific, registering a CAGR of 10.3% during the forecast period.
Water Purifier Market Outlook – 2031
- RO segment is expected to grow at a CAGR of 10.4%, in terms of revenue, from 2022 to 2031.
- Commercial segment is expected to grow at a CAGR of 10.6%, in terms of revenue, from 2022 to 2031
- Asia-Pacific is expected to lead the market, growing at the highest CAGR of 10.3%, in terms of revenue, from 2022 to 2031.
- Japan is the largest country, in terms of revenue generation, in the market, and is expected to grow at a CAGR of 10.4% from 2022 to 2031.
Water purifier market analysis shows the penetration rate of water purifiers is anticipated to increase in the near future, due to rise in concerns of health and wellness among people in the LAMEA and Asia-Pacific regions creating water purifier market opportunities. However, the North American and European markets are expected to witness slower growth during the forecast period, as these markets are nearing maturity. Smart water purifier is becoming new water purifier market trends, the smart water purifiers are easy to use and has many stages of purification also it monitor the water quality and set up all setting as per requirements.
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The global water purifier market is anticipated to witness notable growth in the recent years. This is attributed to the fact that sales have surged in the past few years in Asia-Pacific, making it the largest revenue generator. Moreover, presence of huge population base and scarcity of clean drinking water drive the market in developing countries, such as India and China. The penetration rate of relatively lower priced products, such as gravity-based water purifiers is higher in developing countries of Asia-Pacific and LAMEA. These markets also witness increase in adoption of high-end products and increase in the number of international players, such as Panasonic, Amway, and others. Thus, the demand for portable water purifiers is expected to increase at a considerable rate in developed countries of Europe and North America, as these markets are nearing maturity.
On the basis of technology, the RO water purifier segment occupied the largest water purifier market share of 66.3% in 2020, followed by the UV segment with 20.4%, and is expected to grow at the highest CAGR of 9.5% from 2022 to 2031. RO water purification systems are widely adopted across the globe, due to their performance efficiency, low electricity consumption, and regular technological innovation.
On the basis of end user, the market is categorized into commercial and residential. The residential users segment occupied a significant market share of 74.3% in 2020 and is expected to grow at a CAGR of 9.9% from 2022 to 2031.
On the basis of distribution channel, the market is segmented into retail stores, direct sales, and online channels. The retail stores segment held a major share of 73.4% in 2020 as compared to others.
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Among these, Asia-Pacific accounted for around 69% of the overall market share in 2020, in terms of value, owing to increase in urbanization, surge in income levels, and rise in health awareness among people in this region Europe water purifier market size accounted for a sales revenue of $4,259.70 million in 2020 and is anticipated to grow at a CAGR of 9.1% during water purifier market forecast period. However, the North American market is expected to exhibit a CAGR of 8.4% during the forecast period, accounting for $8,747.80 million by 2031.
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Major market players
• Amway Corporation
• O. Smith Corporation (Aquasana Inc.)
• Best Water Technology
• Eureka Forbes Limited
• Halo Source Inc.
• Kent Ro System Ltd
• Lg Electronics
• Panasonic Corporation
• Suez Water Technologies & Solutions
• Tata Chemicals Ltd
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