Water Purifier Market | NextGen Technology for Purifying Water, Analysis by TMR
The market for water purifiers has gained immense traction in recent years due to an awakening towards healthier living. The scantiness of potable water has placed an onus upon national governments to provide pure drinking water to the populace. This has propelled the demand for water purifiers across the globe. Furthermore, the growth of industrialization across several regional pockets has resulted in the contamination of water bodies, thus, depleting fresh water resources. Pure drinking water is the most essential part of a healthy lifestyle but the current fettle has made it impossible to fetch pure water from the available sources.
Hence, there is a dire need to have water purifying systems across households, industries, commercial units, and all other establishments. Owing to this reason, the market is experiencing an unprecedented demand from across the globe. Diseases such as cholera, typhoid, and pneumonia are caused due to consumption of impure and contaminated water, and in order to reduce the toll of such diseases, it is important to have water purifying systems.
Transparency Market Research (TMR) prognosticates the market to expand at a CAGR of 8.4% over the period from 2016 to 2025. The market was valued at US$ 53.36 bn in 2016, and is expected to reach a valuation of US$110.02 bn by 2025. These are robust figures that are indicative of the bright future prospects of the market.
The market could be segmented along several parameters such as technology, end-user, accessories, and geography. Based on the type of accessories, the market can be segmented into water dispenser, faucet mount, replacement filters, household filter, under sink filter, counter top filter, and shower filter. Of these categories, the replacement filter segment is expected to transcend as the most lucrative segment with a CAGR of 9.5% over the period from 2017 to 2025.
Other segments that are expected to reap a substantial market share include counter top, water dispenser, and pitcher filter. On the basis of technology, the market spans across Water softeners, sediment filter, RO purifier, gravity purifier, UV purifier, and others. The water purifiers are employed across several end uses within industrial, residential, and commercial units, thus, showing the pervasiveness of the market. The rising population has been a key driver for the market because there is a greater need to give the benefits of pure drinking water to this expensive population.