Water Purifier Market to Worth USD 50.66 Billion by (2022-2029) | Water Purifier Industry to Exhibit 7.5% CAGR During the Forecast Period - Digital Journal

2022-05-11 08:28:25 By :

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Key Segments Covered in the Water Purifier Market are By Product Type, By Category, By Application and Regional Forecast, 2021-2028

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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.

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The Russia-Ukraine war could change the Water Purifier Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Water Purifier Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.

There is hardly any sector that the war has left untouched, especially aggravating the business landscape of sectors ranging from aerospace to oil and gas. Amidst prevailing challenges, stakeholders are gearing to turn adversities into opportunities. However, soaring military aid for Ukraine could provide impetus to stakeholders. Meanwhile, it is to be noted that the relevant sanction could augment operating costs and disrupt industries.

The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.

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 and 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 market is segmented into point-of-entry filters and point-of-use filters. The point-of-use filters are sub-segmented into counter top filters, under the counter filters, faucet-mounted filters, pitcher filters, and others.

Based on category, the market is segregated into gravity filters, UV filters, RO filters, and others.

On the basis of application, the market is segmented into light commercial and residential.

On the geographical front, the market covers Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America.

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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 and 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.

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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.

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Water Purifier Market to Worth USD 50.66 Billion by (2022-2029) | Water Purifier Industry to Exhibit 7.5% CAGR During the Forecast Period

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