Water Purifiers Market to Unveil 15% CAGR till 2021
Growing health concerns among
consumers coupled with rising discretionary spending to steer growth in global
residential water purifiers market
According to TechSci Research
report, “ Global Residential Water Purifiers Market By Technology, By Sales Channel,
By Region, Competition Forecast and
Opportunities, 2011 - 2021”, the global market for residential
water purifiers is forecast to grow at a CAGR over 15% during 2016-2021, on
account of deteriorating water quality and increasing awareness regarding
health risks posed by presence of dissolved solids in drinking water. Growing urban
population coupled with rising purchasing power of consumers across the globe
is expected to augment demand for water purifiers from the residential sector
through 2021. Additionally, increasing penetration of water purifiers in the
emerging economies in Asia-Pacific over the next five years is also expected to
be a major contributor to the robust growth in demand for residential water
purifiers in the coming years. Furthermore, continuing increase in adoption of
advanced purification technologies is forecast to steer growth in the global residential
water purifiers market through 2021.
In
2015, membrane based residential water purifiers garnered the largest share in
global residential water purifiers market due to the ability of these
purification systems to lower the amount of total dissolved solids in drinking
water. Increasing consumer adoption due to high product efficiency, integration
of advanced technologies and comparatively higher per unit prices results in
higher revenue generation from this product segment. Over the last five years,
sales of combination systems that utilize more than one purification
technology, has exhibited strong growth across the globe. Global residential water purifiers market is highly fragmented and few
of the major players operating in the market include Midea Water Appliances, Coway,
HUL, Eureka Forbes and Kent RO Systems.
“Globally, around 1
billion people do not have access to safe drinking water and about 2 million
deaths per year are caused due to consumption of contaminated water. Hence,
increasing awareness regarding waterborne diseases and associated heath issues
among consumers is expected to increase sales of residential water purifiers
during the forecast period. Residents are educated about harmful effects of
polluted water bodies, from where water is supplied to households by
municipalities. Rising internet penetration and increasing disposable income
levels has not only increased awareness about the benefits of these water
purification systems, but is also driving adoption of these water purification
technologies over the course of next five years.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“ Global Residential Water Purifiers Market By Technology, By Sales Channel, By Region, Competition Forecast and Opportunities, 2011 - 2021” has evaluated the future growth potential
of global water purifiers market and provides statistics and information on
market structure, consumer behaviour and trends. The report is intended to
provide cutting-edge market intelligence and help decision makers take sound
investment evaluation. Besides, the report also identifies and analyzes
emerging trends along with essential drivers, challenges and opportunities in the
global residential water purifiers market.
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