April 19, 2022 09:15 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, April 19, 2022 (GLOBE NEWSWIRE) -- The water purifier market size was valued at USD 22.85 billion in 2021. The market is estimated to rise from USD 30.62 billion in 2022 to USD 50.66 billion by 2029 at a 7.5% CAGR during the forecast period. Fortune Business Insights™ has delved into these insights in its latest research report, titled, “Water Purifier Market, 2022-2029.”
According to the analysis, commercial and residential sectors are likely to be the major recipients of water purification technology. Industry players expect RO and UV filters to be sought-after across end-use applications. For instance, in September 2021, A.O. Smith rolled out an under-the-counter water treatment unit with UV plus silver activated post-carbon technology in India.
Get a Sample PDF Brochure:
Major Players Profiled in the Market Report:
Short-term Production Halts to Have Mixed Impact
The ravage of the COVID-19 pandemic has disrupted the supply chain, with short-term production halts and the possible closure of manufacturing plants. Notably, Pentair PLC suffered production slow down & operation suspension, owing to shelter-in-place orders from governance. Meanwhile, robust government policies could have a notable influence on the business outlook. According to the WaterWorld Magazine, 60% of Water and Wastewater Equipment Manufacturers Association (WWEMA) representative members and approximately 44% of WWEMA manufacturing members took advantage of the federal Payroll Protection Program in the U.S. in 2020.
In terms of product type
The point-of-use filters are sub-segmented into countertop filters, under-the-counter filters, faucet-mounted filters, pitcher filters, and others.
On the basis of the application
Inquire Before Buying This Research Report:
The report offers a holistic view of the market size, share, volume, and revenue. It has also delved into Porters’ Five Force Analysis and SWOT analysis. The report has been prepared through qualitative and quantitative analysis to bolster the strategic approach. Primary interviews have been used to validate assumptions, findings, and the prevailing business scenarios. The report has also been prepared through secondary resources, such as annual reports, press releases, white papers and journals.
Smart Purification Trend to Propel Industry Growth
Well-established players are well poised to invest in smart purifiers through the integration of advanced technologies. Water purifier market share will gain traction from the demand for purifiers that can monitor usage and send alerts or notifications at the end of their maintenance cycle. The strong demand from emerging economies will encourage water purifier suppliers to invest in Asia Pacific and Latin America. With the demand to reduce weight and boost the immune system soaring, industry players will continue to invest in technological advancements.
However, the high maintenance cost of filters may challenge leading companies to expand their penetration in the ensuing period.
Heightened Awareness about Waterborne Diseases to Encourage Investment in Asia Pacific
With emerging economies witnessing a surge in waterborne disease, Asia Pacific is likely to provide lucrative growth opportunities. Stakeholders anticipate India and China to witness investments galore in water purification technology. The Asia Pacific market size stood at USD 10.88 billion in 2021 and will witness an upward trajectory with the growing penetration of residential and light commercial applications.
The Europe water purifier market growth will gain traction during the forecast period due to the presence of leading companies across Germany, the U.K., Italy, and France. An uptick in the use of tap water will further expedite the need for water purification systems.
Industry players expect the U.S. and Canada to witness profound investments in point-of-use filters for lighter applications. North America market outlook will be strong in the wake of the rising penetration of point-of-entry filters across residential and commercial applications. Water purification technologies, such as RO filters, will continue to receive an uptick across the region over the next few years.
Leading Players Invest in Organic and Inorganic Strategies to Expand Footprint
Stakeholders are likely to invest in product launches, research and development activities, technological advancements, and mergers & acquisitions. Well-established players and new players could invest in innovations to gain a competitive edge. In doing so, investments in geographical expansion could be noticeable in the ensuing period.
Browse Detailed Summary of Research Report with TOC:
Have a Look at Related Research Insights:
Point of Use Water Treatment Systems Market Size, Share & COVID-19 Impact Analysis, By Product Type (Under The Counter Filters, Counter Top Filters, Pitcher Filters, Faucet mounted Filters and Others), By Category (RO Filters, UV Filters, Gravity Filters, and Others), By Application (Residential and Light Commercial) and Regional Forecasts, 2021-2028
Liquid Waste Management Market Size, Share & Industry Analysis, By Source (Residential, Commercial & Industrial), By Industrial (Paper & Pulp, Chemical & Petrochemicals, Food & Beverages, Textile & Tannery and Others) and Regional Forecast, 2019-2026
Water Treatment Chemicals Market Size, Share & Industry Analysis, By Type (Coagulants & Flocculants, Corrosion & Scale Inhibitors, pH Adjusters & Stabilizers, Anti-foaming Agents, Biocides & Disinfectants, Others), By End-Use Industry (Municipal, Oil & gas, Mining, Power, Paper & Pulp, Food & Beverage, Others) and Regional Forecast, 2022-2029
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –