BURNABY, Canada, June 9, 2015 /PRNewswire/ --
Increasing water contamination and advancement in water purification technologies to drive South Korea water purifier market through 2020
According to TechSci Research report, "South Korea Water Purifiers Market Forecast & Opportunities, 2020", the market for water purifiers in South Korea is anticipated to grow at a CAGR of over 16% during 2015-20. In South Korea, water supplied through public water utility systems is unsafe for drinking, and consequently, the demand for water purifiers is growing in the country. High phosphorus and chemical oxygen demand (COD) levels in rivers, which are the main source of drinking water for the Korean population, are further contributing to the demand for water purifiers. Moreover, growing awareness among consumers about various health related disorders associated with drinking contaminated wateris also propelling South Korea's water purifiers market.
South Korea water purifier market is dominated by membrane based water purifiers, which held the majority revenue share in 2014. On account of increasing chemical oxygen demand (COD) and total phosphorus (T-P) levels in the rivers of the country, this segment is expected to maintain its dominance over the next five years as well. Central region accounted for the largest share in South Korea water purifiers market in 2014, followed by northern and southern regions of the country.
"South Korea water purifier market is set to exhibitrobust growth during the next five years on account of increasing water pollution levels coupled with rising health awareness among consumers. Moreover, major players such as Coway, Tongyang Magic, ChungHoNais, and LG have started incorporating various advanced technologies to counter the entry of new global players in the market. With development of new products, adoption of water purifiers integrating advanced purification technologies like RO (Reverse Osmosis), UF (Ultrafiltration) or UV (Ultraviolet) filtration is also rising across the country.", said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.
"South Korea Water Purifier Market Forecast & Opportunities, 2020" has evaluated the future growth potential of South Korea Water Purifier Market and provides the statistics and information on market structure, industry behavior and trends. The report includes water purifier market projections and demand forecasting. The report is intended 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 available in water purifier market in South Korea.
About TechSci Research
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