Water Purifier Market Trends 2021: COVID-19 Impact 2021-2023: Industry Analysis
Posted by Komal Boudhh on January 25th, 2021
Global Market for Water Purifiers, in terms of value, is estimated to reach a value of USD 78.6 Billion by 2025, registering a 17.37% CAGR during the forecast period.
The report covers the segmentation and drivers for a better glimpse of the market in the coming years. Water purifiers have witnessed a significant growth in adoption rates over the past few years owing to the increasing awareness about water-borne diseases and technological advancements in water purifiers. The World Health Organization (WHO) organizes many campaigns to raise awareness regarding health and safety issues among individuals. Such campaigns are often aimed at educating the population regarding the causes of illness. According to the WHO, unsafe drinking water, sanitation, and hand hygiene lead to approximately 4 billion cases of diarrhea, every year, across the globe. The rising cases of cholera and other serious illnesses such as guinea-worm disease, typhoid, and dysentery are increasingly prompting individuals to drink pure water, creating a demand for water purifiers.
Increasing awareness about water-borne diseases and technological advancements in water purifiers will spur market growth. The global water purifier market has been segmented based on products, devices, and end-user.
Based on the product, the global market has been segmented into RO water purifier, UV water purifier, and activated carbon filters. In 2019, the RO water purifier segment accounted for the largest market share of 54.8%, with a market value of USD 27,481.7 million. It is projected to register a 17.13% CAGR during the projected timeframe.
Based on devices, the market has been segmented into wall-mounted, countertop, tabletop, faucet-mounted, and under-the-sink (UTS).
Based on end-user, the global market has been segmented into residential and commercial. In 2019, the residential segment accounted for a considerable market share of 71.9%, with a market value of USD 36,069.1 million. It is projected to register an 18.25% CAGR over the forecast period.
Based on region, the report on the global water purifier market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
With the highest population density in countries such as China and India, Asia-Pacific dominates the global water purifier market. The market has been experiencing rapid growth in the last two to three years, owing to the growing commercial sector, rising preference towards purified water, and government initiatives. The population of these regions has also been increasing, which is expected to boost market growth further. India has considerable demand for water purifiers. The key factors that are driving the Indian market are the rapidly developing economy, government initiatives for pure water, and growing population.
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About the AuthorKomal Boudhh
Joined: July 17th, 2020
Articles Posted: 121
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