Market Synopsis
As per the research by Market Research Future Reports (MRFR), the global water filter market is estimated to expand at a CAGR of 9.55% during the forecast period. The global water purifier market 2020 is mainly driven by rising awareness regarding water-borne diseases. Moreover, there has been constant development in water purifiers’ technology. With an increment in the containments, chemical substances, and dissolved solids, and other materials, the requirement for an efficient water purifier has risen from the past few years. Moreover, the increasing pollution has resulted in a surge in demand for water purifiers. Water purifiers have become a necessity for urban consumers in emerging economies due to the growing level of water pollution.
Moreover, the increasing level of disposable income, the increasing health concern are some of the most important factors augmenting market expansion during the forecast period. Besides, to control the spread of diseases like typhoid, cholera, and pneumonia, the demand for water purifiers is rising up. However, the cost of maintenance and high equipment may obstruct the expansion of the water purifier market.
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Regional Analysis
The geographical analysis of North America, Europe, Asia-Pacific (APAC), and the rest of the world (RoW) has been conducted. As per the analysis by MRFR, the APAC region is likely to dominate the global market and is estimated to witness robust growth during the forecast period. China is the largest market for water purifiers in the APAC region. The primary factor which has resulted in China being the most significant market is the expanding economy, new domestic players, and the rising import and export trade in China. Besides, the significant regions of the region are experiencing rapid urbanization, rising standard of living, and increased disposable income. Moreover, the presence of an enormous large consumer pool, the established players, is aiming the two fastest developing economies of the world i.e., India and China. The second position is attained by the North American region. North America is a lucrative market for key players. The demand for water purifiers has surged due to the rising concern towards health. The RoW consists of regions such as South America and MEA. The increasing disposable income has resulted in a better lifestyle, which has driven the market in terms of value for water purifiers in RoW
However, due to the outbreak of pandemic coronavirus, several regions have been adversely affected. The dynamics of the market are changed significantly due to the observation of worldwide lockdown
Key Players
The forefront players of the global water purifier market are Ningbo Lamo Drinking Water Equipment Co., Ltd. (China), BWT AG (Austria), 3M (US), Pentair Plc. (UK), COWAY CO., LTD (South Korea), Hindustan Unilever Limited (HUL) (UK), Culligan (US), EcoWater Systems LLC (US), Brita LP (US), Mitsubishi Chemical Corporation (Japan), Toray Industries, Inc. (Japan), Enmetec GmbH (Germany), Koninklijke Philips N.V. (the Netherlands), Panasonic Corporation (Japan), A. O. Smith India Water Products Pvt. Ltd. (US), Carrier Midea India (India), Eureka Forbes (India), Livpure Pvt. Ltd. (India), KENT RO Systems Ltd. (India), Shenzhen Angel Drinking Water Equipment Co., Ltd. (China), and others.
Market Segmentation
The global water purifier market can be segregated on the basis of end-user, product devices, and region.
On the basis of end-user, the global water purifier market can be classified into commercial and residential.
On the basis of the product, the global water purifier market can be classified into UV water purifier, RO water purifier, and activated carbon filters.
On the basis of region, the global water purifier market can be classified into North America, Europe, Asia-Pacific (APAC), and the rest of the world (RoW).
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