Key Segments Covered in the Water Purifier Market are By Product Type, By Category, By Application and Regional Forecast, 2021-2028
The global water purifiers market share is expected to reach USD 45.00 billion by 2027, exhibiting a CAGR of 7.2% during the forecast period. The advent of technologically advanced smart water purifiers will bolster healthy growth of the market, states Fortune Business Insights in a report, titled “Water Purifiers Market Size, Share and Industry Analysis, By Product Type (Point-of-use Filters {Under the Counter Filters, Counter Top Filters, Pitcher Filters, Faucet-mounted Filters, and Others} and Point-of-entry Filters), By Category (RO Filters, UV Filters, Gravity Filters, and Others), By Application (Residential and Commercial) and Regional Forecast, 2021-2028”
The market is projected to grow from USD 29.12 billion in 2021 to USD 47.53 billion in 2028 at a CAGR of 7.2% during the 2021-2028 period.
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Market Driver:
Rising Preference for Quality Drinking Water to Bolster Growth
The growing knowledge about the standards of drinking water quality in the emerging nations will consequently foster the growth of the market during the forecast period. The advancement in water purification systems will enable speedy expansion of the market. Similarly, the implementation of point-of-entry and point-of-use filter systems to eliminate pathogens has led to the proliferation of the market. The rising utilization of water purifiers for specific and general applications such as the conversion of raw water into safe and enhanced grade water will further uplift the water purifiers market share. The perpetual innovation in technological processes involving ultra-violet, reverse osmosis, and gravity-based purifiers can be a vital factor augmenting the growth of the market. The emergence of smart water purifiers with trailblazing technologies will incite the adoption of purifiers in residential and commercial sectors. For instance, in April 2019, Culligan International, a water treatment company based in the US announced the release of ClearLink Connect and Drinking Water Connect accessories. The newly launched accessories can be connected through a mobile app i.e., Culligan Connect, which enables the users to monitor their drinking water systems and remain notified.
Regional Analysis:
Increasing Awareness about Waterborne Diseases to Promote Growth in Asia Pacific
The market in Asia Pacific held the lion’s share in 2019 and is expected to lead the market during the forecast period. The growth in the region is attributed to rising awareness regarding the adverse health effects of waterborne diseases in the region. The rising investment by pre-eminent companiessuch as Brita LP, A.O. Smith Corporation in the Indian market will significantly enable the growth of the market in Asia Pacific. The rising adoption of water purifiers in Japan, South Korea, Australia, New Zealand,and others will boost the growth of the market in the region. Europe is predicted to hold a major share in the global market owing to the growing implementation of purifiers among the residents in countries such as Germany, the Uk, and France. The growing consumption oftap water will further enhance the growth of the market in Europe. According to the German Association of Energy and Water Industries, approximately 83% of Germans drinks tap water in regular practice or occasionally with an average consumption of nine liters per person per weak
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Key Development:
July 2019: Pentair PLC, a water treatment company announced that it has signed a partnership to acquire Pelican Water Systems, an eco-friendly water softener, and filter systems manufacturer. The agreement involved a transaction of US$ 120 millionintending to expand its geographical footprints.
Key Players:
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Press Release Distributed byThe Express Wire
To view the original version on The Express Wire visit Water Purifier Market 2021 Size, Share, Industry Trends, Future Development, Outlook, Growth Analysis and 2028 Forecast
