The research uncovers excellent insights into the industry, systematic data with detailed analysis, Industry dynamics & aspects demonstrating development and growth, meticulous information about vital players in the industry, and procured statistics about dominant regions.
The global water purifier Industry size is expected to reach USD 47.53 billion by 2028, exhibiting a CAGR of 7.2% during the forecast period. The advent of technologically advanced smart water purifier will bolster healthy growth of the industry, states in research, titled “Water Purifier Industry, 2021-2028” the industry size stood at USD 27.51 billion in 2020. The introduction of user-friendly purifiers will spur demand in the foreseeable future.
The growing knowledge about the standards of drinking water quality in the emerging nations will consequently foster the growth of the industry during the forecast period. The advancement in water purification systems will enable speedy expansion of the industry. Similarly, the implementation of point-of-entry and point-of-use filter systems to eliminate pathogens has led to the proliferation of the industry. The rising utilization of this purifier for specific and general applications such as the conversion of raw water into safe and enhanced grade water will further uplift the water purifier Industry share.
Point-Of-Use Filters Segment to Dominate the Industry
Based on product type, the global Industry is classified into point-of-use filters and point-of-entry filters. Point-of-use filters segment is further divided into under the counter filters, countertop filters, pitcher filters, faucet-mounted filters, and others. Based on category, the industry is classified into RO filters, UV filters, Gravity filters, and others. Based on the application, the industry is classified into residential and light commercial. The residential segment held the largest share in 2020.
LIST OF KEY COMPANIES PROFILED:
A. O. Smith Corporation (USA), Brita LP (USA), Pentair PLC (USA), Culligan International Company (USA), Unilever PLC (UK), Panasonic Corporation (Japan), LG Electronics (South Korea), Helen of Troy Limited (USA), Best Water Technology Group (Austria), Kent RO Systems Ltd. (India), iSpring Water Systems LLC (USA), The 3M Company (USA) , Honeywell International Inc. (Switzerland), General Electric Company (USA), Eureka Forbes Ltd. (India)
The perpetual innovation in technological processes involving ultra-violet, reverse osmosis, and gravity-based purifiers can be a vital factor augmenting the growth of the industry. The emergence of smart water purifier with trailblazing technologies will incite the adoption of purifiers in residential and commercial sectors. For instance, in April 2019, Colligan International, a water treatment company based in the US announced the release of Clear Link Connect and Drinking Water Connect accessories. The newly launched accessories can be connected through a mobile app i.e., Colligan Connect, which enables the users to monitor their drinking water systems and remain notified.
Increasing Awareness about Waterborne Diseases to Promote Growth in Asia Pacific
The Industry in Asia Pacific held the lion’s share in 2020 and is expected to lead the industry during the forecast period. The growth in the region is attributed to rising awareness regarding the adverse health effects of waterborne diseases in the region. The rising investment by pre-eminent companies such as Brita LP, A.O. Smith Corporation in the Indian Industry will significantly enable the growth of the Industry in Asia Pacific. The rising adoption of this type of purifiers in Japan, South Korea, Australia, New Zealand, and others will boost the growth of the industry in the region. Europe is predicted to hold a major share in the global Industry owing to the growing implementation of purifiers among the residents in countries such as Germany, the UK, and France. The growing consumption of tap water will further enhance the growth of the Industry in Europe. According to the German Association of Energy and Water Industries, approximately 83% of Germans drinks tap water in regular practice or occasionally with an average consumption of nine litters per person per week.
July 2019: Pentair PLC, a water treatment company announced that it has signed a partnership to acquire Pelican Water Systems, an eco-friendly water softener, and filter systems manufacturer. The agreement involved a transaction of US$ 120 million intending to expand its geographical footprints.