China Water Purifier Market Set To Grow At 24% CAGR Till 2018
Excessive use of ground water as drinking source coupled with rapid industrialization will accelerate the Chinese water purifier industry
The water purifiers market in China is expected to grow at the CAGR of around 24% during 2013-2018, according to the recent report‘China Water Purifier Market Forecast & Opportunities, 2018’, published by TechSci Research, a research based global management consulting firm.
The market for water purifiers in China is the largest in the world and is also leading the Asia Pacific market, the report mentions. The majority share of the water purifiers market in China is held by 3M China. Low cost availability of labour and raw materials are aiding the industry players to optimize their production outputs.
China being the global industrial hub is witnessing rapid increase in environmental pollution as a result of swift industrialization. China is constantly witnessing dynamic economic growth which off-late started replicating into serious environmental concerns. According to Chinese Academy of Science, 436 out of 532 rivers in China are highly contaminated. In the northern region of China, neurological or cardiovascular diseases are increasing fast. The increasing level of impurities in the country’s natural water resources is pushing the demand for water purifiers.
Ground and surface water contamination is an outcome of massive industrialization and urbanization in the country. The gradually degrading water quality in China is compelling the masses to deploy water purifiers in their homes. According to WHO, about 300 Million people in China do not have access to safe drinking water and about 700 Million people consume water below the standards set by WHO (World Health Organization).
Majority of the market for water purifiers in China is held by membrane-based purifiers. “China Water Purifier Market Forecast and Opportunities, 2018” report reveals that the strong efficiency and multistage purification capabilities are driving the revenue growth of membrane-based water purifier segment. Presence of impurities in ground water such as arsenic, lead, cadmium, mercury, etc. is increasing the demand for membrane-based water purifiers in China.
The report also analyses the opportunities in the market. According to the report, low penetration of water purifiers compared to developed countries indicates growth potential for the country’s water purifier market. However, counterfeiting of products and poor after sale services are restraining the growth potential to an extent.
“During 2012-2018, the production of water purifiers in China is anticipated to increase by three folds. The continued focus on R&D along with replacement of conventional filters with innovative filters such as KDF filter, catalytic activated carbon filter, etc. will boost the market for water purifiers in China,” said Mr. Karan Chechi, Research Director, TechSci Research.
“China Water Purifier Market Forecast and Opportunities, 2018” has analyzed the potential of the water purifiers market in China and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyses the emerging trends along with essential drivers and key challenges faced by the industry.
About TechSci Research
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