DUBLIN, Feb. 28, 2023 /PRNewswire/ — The “Consumer Water Purifier Market – Forecasts from 2022 to 2027” report has been added to ResearchAndMarkets.com’s offering.
Water purification is when undesired chemicals are removed from water by using chemicals and various processes. Water purification systems are various electronic machines used to purify water from unwanted substances. The market for consumer water purifiers is projected to witness healthy growth over the next five years, mainly because of the raising concerns regarding the benefits of clean drinking water, especially in underdeveloped economies where the purchasing power is comparatively low.
The rapid growth in the number of deaths due to water-related diseases is one of the leading causes of the inclination of people toward water purification systems. According to the statistics from the World Health Organization, around 3.4 million people die each year due to water-related diseases, and the WHO states these can be mitigated to some extent with the use of various inexpensive purification systems.
Furthermore, the rapid urbanization in the developing economies of the region coupled with a rise in the middle-class population in various countries, including India, China, Brazil, and Indonesia, among others, are also some of the key factors propelling the demand for water purification systems, thereby driving the market growth during the next five years.
Furthermore, the improvement in standards of living is also driving the demand for water purifiers in undeveloped and developing economies as well. Also, the availability of clean and safe water by municipalities of various countries has led to a decent increase in the adoption of water purifiers. This, in turn, is also projected to impact the consumer water purifier market growth positively.
Rapid technological advancements are driving the market growth significantly
The rapidly growing consumer requirements have led to constant participation by the key market players in the development and launch of new products to expand their market share and gain a competitive edge over other players. For instance, in August 2019, Kent RO Systems announced the launch of a new purifier product KENT Ace Star RO Water Purifier. Furthermore, the investments by new market players in the market for entering into new business segments are also considered a prime factor supporting the market growth during the next five years.
The market is also poised to grow because of the rising government focus on developing commercial infrastructure that includes hotels, airports, metros, shopping malls, movie theatres, and commercial buildings such as offices. The successful initiatives by the governments of various countries are also propelling the opportunities for the key manufacturers and vendors to invest more in the market and gain a competitive edge over other players.
For instance, Saudi Arabia and UAE have their main focus on the development of commercial infrastructure, which is indicated by the fact, that there are various initiatives taken by the government of major countries like Saudi Vision 2030, UAE Vision 2021, and UAE Vision 2023 that include the construction of new hotels, airports, and metros. This, in turn, is also expected to add up to the requirements of commercial water purifiers, thus driving the market growth during the next five years.
The consumer water purifier market has been segmented based on technology, end-use, mobility, distribution channel, and geography. Based on technology, the market has been classified into UV, RO, and others. Based on end-use, the segmentation of the market has been done as residential and commercial. By mobility, the classification is done into portable and non-portable. Based on the distribution channel, the segmentation is done online and offline. Geographically, the consumer water purifier market has been segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The Asia Pacific to hold a considerable market share
The Asia Pacific region is projected to hold a considerable market share throughout the forecast period. The major factor bolstering the share of the APAC region includes the presence of a considerably large population base across the region, especially in countries like India and China, among others. Furthermore, the growing middle-class population and rapid urbanization in the developing countries of the region are also vital factors bolstering growth during the next five years. Also, the presence of key market players in the region is further supplementing the market growth throughout the forecast period.
By Distribution Channel
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- Eureka Forbes Ltd
- Kent RO Systems
- LG Electronics
- TATA Chemical Ltd.
- Panasonic Corporation
- A.O. Smith Corporation
- SAR Group (livpure)
- Alfaa UV
- Samsung Electronics Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/ihq56j-water?w=5
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