ALBANY, New York, May 23, 2019 /PRNewswire/ -- The global water purifier market features an intense competition among major players due to their micro and macro-economic strategies. Thus, it is likely to witness an increase in the level of competition among them. Additionally, Transparency Market Research (TMR) estimated in their report that these players are increasingly involved in strategies such as partnerships and collaborations, in order to gain a profitable edge in the global water purifier market. GE Appliances, Eureka Forbes Ltd., Unilever N.V., LG Electronics, and Panasonic Corporation are some of the major players in the water purifier market. Additionally, other players such as Tata Chemicals Ltd., A.O. Smith Corporation, Kaz USA, Inc., Whirlpool Corporation, Philip Electronics, and Kent RO Systems Ltd. account for a substantial share in the global water purifier market.
TMR's report based on the global water purifier market estimated the growth of the water purifier market is backed by a tremendous demand for clean water for daily use and drinking globally. Thus, the market is expected to expand at a striking CAGR of 8.40% over the forecast period from 2017 to 2025. With this impressive CAGR, the market is expected to attain a value of US$110.02 bn by 2025 from a value of US$ 53.36 bn in 2016. Additionally, a growing awareness about the rising prevalence's of water-borne diseases is expected to propel the growth of the global water purifier market in the coming future.
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The Emergence of Advanced Technologies Boosting Water Purifier Market
The water purifiers have extensive demand from the industries, commercial units, and residential buildings. Thus, rising disposable income is leading to boost adoption of the advanced water purifiers such as RO-based purification. Additionally, these purifiers offer the advantage of replacing filters rather than replacing whole internal systems. Recently, key players are focusing on the repairing and replacing segment by offering this as a key service to their customers. Thanks to this ease offered by the key players; the replacement segment is likely to expand at a most lucrative CAGR of 9.5% from 2017 to 2025.
The water purifier market is gaining immense attraction from last decade owing to an awakening about living a healthier life. The shortfall of portable water is augmenting the need for taking government initiatives to avail pure and clean drinking water globally. This factor has encouraged the adoption of water purifiers across the globe and especially across developing countries such as India and China.
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Rising Need for Purification of Polluted and Contaminated Water Augments Growth
Growing industrialization across these countries is creating polluted and contaminated water on a large amount. Additionally, governments concerns about cleaning this water resource are augmenting growth of the global market for water purifier in these countries too. Thanks to the factors, Asia Pacific dominated the global water purifier market by accounting for 60% of the total share and is expected to expand at a CAGR of 11.9% over the forecast period from 2017 to 2025.
The water purifier market is witnessing most lucrative opportunities for growth across the developing countries as the developed regions such as North America and Europe are the mature markets for the water purifiers. Thus, North America is experiencing slower growth and is expected to expand at a CAGR of 5.7% in the years to come.
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This information is encompassed in the report by TMR, titled, "Water Purifier Market (Technology - Gravity Purifiers, RO Purifiers, UV Purifiers, Sediment Filters, and Water Softener; End-User - Industrial, Commercial, and Household; Accessories - Pitcher Filter, Under Sink Filter, Shower Filter, Faucet Mount, Water Dispenser, Replacement Filter, Countertop Filters, and Whole House Filters) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025."
For the study, the global water purifier market has been segmented as follows:
- Gravity Purifier
- RO Purifier
- UV Purifier
- Sediment Filter
- Water Softener
- Pitcher Filter
- Under Sink Filter
- Shower Filter
- Faucet Mount
- Water Dispenser
- Replacement Filters
- Counter Top
- Whole House
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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