Residential Water Purifiers Market to Grow at a CAGR of 13.43% until 2027
Global Residential Water Purifier Market is driven by surging
demand for clean, pure and hygienic water for drinking purposes in the forecast
period, 2023-2027.
According to TechSci Research report, “Residential Water
Purifier Market
- Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027”, the global residential water purifier market was valued USD20783.78
million in 2021 and is forecast to grow at a CAGR of 13.43% through 2027. The
market growth can be attributed to the factors like surging demand for clean,
pure and hygienic water for drinking purposes.
Growing prevalence of water borne diseases like cholera, diarrhea,
typhoid, dysentery, hepatitis A, further drives the growth of the global
residential water purifier market in the upcoming five years. In addition to
this, growing population is expected to further upsurge the demand for water
purifiers, and thereby support the growth of the global residential water
purifier market in the next five years.
Moreover, the population is highly concerned about
consumption of clean water. Increasing health awareness and growing instances
of infectious diseases aids the market growth. The demand for water purifiers
further increases from the developing nations like India, Vietnam, Indonesia,
etc. The quality of water in these countries is poor and causes health hazards.
Technological advancement, consistent research for
innovative product development and increased manufacturing of water purifiers
further aids the growth of the global residential water purifiers market in the
forecast years through 2027.
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Residential Water Purifiers Market"
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The global residential water purifiers market segmentation is based on
technology, sales channel, regional distribution, and competitional landscape. Based
on technology, the market is further segmented into RO, media, UV, UF, and
others like nanofiltration, etc. RO technology is anticipated to hold the
largest revenue shares of the market and dominate the market segment in the
upcoming five years on the grounds of surging demand for purified drinking
water.
Usage of reverse osmosis technology further drives the growth of the
global residential water purifiers market in the next five years. Reverse
osmosis technology functions on the basic principle of movement of water from
higher concentration to lower concentration with ability to filter out
impurities larger than or equal to 0.3 micron. The water purifier with the RO
technology has a partially permeable membrane that allows the transfer of water
from one gradient to another.
Basically, a partially permeable filter screen that can allow the
passage of ions, minerals, and water molecules through but restricts the
movements of impurities like microorganisms, and other larger chemical
components. Through this method even the salt water can be converted into fresh
drinkable water. But the system has a fault, that is restricts movement of
certain larger mineral molecules and thus fresh water is drinkable but not
healthy.
Based on sales channel, the market is further differentiated between
direct and indirect sales. Indirect sales are anticipated to hold the largest
revenue shares of the market and dominate the market segment in the upcoming
five years on grounds of surging demand for clean and purified water at home.
Increasing residential infrastructures and corporate offices and the
construction of the buildings further drives the growth of the global
residential water purifier market in the next five years.
Some of the market players, dominating the global residential water
purifier market are:
·
Midea Group Co. Ltd.
·
Coway Co. Ltd.
·
Brita GmbH
·
A.O. Smith Corporation
·
Eureka Forbes Limited
·
Culligan International Company
·
BWT Holding GmbH
·
Unilever PLC
·
Panasonic Corporation
·
Kent R O Systems Limited
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“Asia Pacific region is anticipated to hold the largest revenue
shares of the market and dominate the market in the upcoming five years due to
higher demand for the product from the developing nations like India, Vietnam,
China, Indonesia, etc. Rising prevalence of water-borne diseases and increasing
consumer awareness regarding safe drinking water, and innovative products to
purify the water. Water supply in the countries like Vietnam, Indonesia lacks
proper piped system. Although the demand for water purifiers is increasing, the
infrastructure and piped system required for a stable water supply in all the
regions of these countries is difficult and are point of concerns. Increasing
demand for purifier water as a concern against spreading infectious diseases
are further substantiating the growth of the global residential water purifiers
market in the forecast years. New market players may focus on the technological
advancements and innovative product development along with increasing
investments and establish their brands in the market,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Residential Water Purifier Market - Global Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027 Segmented By Technology (RO, Media, UV, UF, others
(nanofiltration, etc.)), By Sales Channel (Indirect and Direct), By Region”,
has evaluated the future growth potential of global residential water purifiers
market and provides statistics & 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 decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in global residential water
purifiers market.
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