PUBLISHER: SkyQuest | PRODUCT CODE: 1179221
PUBLISHER: SkyQuest | PRODUCT CODE: 1179221
Global Water Purifier Market was valued at USD 22.92 billion in 2021, and it is expected to reach USD 50.66 billion by 2028 at a CAGR of 7.5% over the forecast period (2022-2028).
Due to increased public awareness of the pollutants in the water supply and rising investments by water purifier businesses in creative marketing initiatives, people are becoming more familiar with the advantages of water purifiers. Demand for water treatment solutions is being boosted by the introduction of digital marketing, the rapid expansion of retail businesses in developing nations, and the ongoing availability of water purifiers purchased through retail services. These factors will drive market demand.
Top-down and bottom-up approaches were used to estimate and validate the size of the global water purifier market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The Global Water Purifier Market is segmented based on product type, category, portability, application, and region. Based on Product Type, it is categorized into Point-of-use Filters and Point-of-entry Filters. The Point-of-use segment is further categorized into Under the Counter Filters, Counter Top Filters, Pitcher Filters, and Faucet-mounted Filters. Based on Category, it is categorized into RO Filters, UV Filters, and Gravity Filters. Based on Portability, it is categorized into Portable Water Purifiers and Non-portable Water Purifiers. Based on Application, it is categorized into Residential and Commercial. Based on region, it is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Driver
Depending on its intended application, water filtration systems come in a variety of sizes. One of the major factors affecting the growth of the water purifier market is the increase in the use of online sales channels. The fast rise in urbanization around the world and widespread Internet use has caused the online platform to grow. Customers may evaluate various products in terms of features, characteristics, and cost, thanks to the online marketplace. Therefore, it is projected that growth in water purifier sales on online platforms will fuel the water purifier market in the near future.
Restraint
To keep the water's quality high, the filters used for filtration must be changed on a regular schedule. The parameters for filter replacement vary depending on the product type and technology utilized in the purification systems. POU filters need to be changed every 6 to 12 months, but point-of-entry filters normally need to be replaced every 5 to 6 years. The entire maintenance cost of the water filtration system consequently increases dramatically. The high price of filters is, therefore, one of the main barriers to the growth of the water purifier market.
Market Trends
To preserve their competitive edge and broaden their worldwide reach and portfolio, major companies in the water purifier market frequently collaborate with one another. Businesses are concentrating on achieving long-term success through efficient integration, ongoing improvement, and water purifier innovation. Urbanization expansion and increased consumer knowledge of filtered water in the Asia Pacific are giving market players attractive prospects. During the projected period, the market for water purifiers is expected to witness a considerable rise in the demand for portable purifiers. During the projection period, market participants will likely have plenty of chances due to the expansion of trade and investment options in developing regions.