Coway to Maintain its Leadership Position in South Korea Water Purifier Market until 2023
Rising water
contamination, increasing investment in residential sector and launch of
innovative water purification systems to propel demand for water purifiers in
South Korea through 2023
According to TechSci Research
report, “South
Korea Water Purifier Market By Type, By Application, By Sales Channel, Competition
Forecast & Opportunities, 2013 – 2023’’, water purifier market in
South Korea is forecast to surpass USD4.3 billion by 2023 owing to rising water
contamination levels in the country’s water bodies. South Korea majorly draws
its water from artificial reservoirs, which have high eutrophication levels,
which is turn generates the need for water purifiers in the country. Moreover, rising
concerns associated with water borne diseases coupled with increasing
purchasing power of consumers is expected to further push demand for water
purifiers in the country over the next five years. Further, increasing number
of smart city project investments in the country along with upcoming new huge construction
projects in South Korea are anticipated to positively impact water purifier sales
in the country for both point of use and point of entry usage. Demand for point-of-use
water purifiers is high compared to point-of-entry water purifiers on account
of higher preference for counter top water purification systems that offer
storage option as well, making them convenient for consumers to use.
Browse 45 market data Figures and Tables
spread through 93 Pages
and an in-depth TOC on "South
Korea Water Purifier Market"
https://www.techsciresearch.com/report/south-korea-water-purifier-market/2098.html
Based on the application
category, the South Korea water purifier market is segmented into residential,
commercial, industrial, healthcare and food & beverages segments. Demand
for water purifiers in the residential sector would continue to flourish at a
robust pace in the coming years, with the residential application segment maintain
its market dominance through 2023. In terms of sales channel, direct sale of
water purifiers in South Korea is a preferred mode, with majority of the
leading water purifier companies selling their products directly through door
to door sales channel or through company websites or authorized stores.
In 2017, the central region
of South Korea accounted for the largest share in the country’s water purifier market
mainly due to large and rising number of commercial, industrial and residential
buildings in the region. “In 2017, Coway captured the largest market share in
South Korea water purifier market, followed by Cuckoo Electronics, ChungHo
Nais, SK Magic, and Korea Amway. As companies focus towards launching
innovative water purifiers that cater to multiple consumer needs such as hot
water, cold water, coffee machine, ice machine, water purifier sales in South
Korea will continue to grow at a significant pace over the next five years.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
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“South Korea Water Purifier Market By Type, By
Application, By Sales Channel, Competition Forecast & Opportunities, 2013 –
2023” has evaluated the future growth
potential of water purifier market and provides statistics and information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
evaluation. Besides, the report also identifies and analyzes the emerging
trends along with essential drivers, challenges and opportunities in South
Korea water purifiers market.
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