Quite a few prominent players operate in the global Water Purifier Market. Prominent among them are Panasonic Corporation, Tata Chemicals Ltd., Philip Electronics, Kent RO Systems Ltd., Unilever N.V., Eureka Forbes Ltd., and Whirlpool Corporation. Healthy competition exists among them as each one of them experiments with various strategies to surge ahead in the market.
Transparency Market Research’s latest report on the Water Purifier Market predicts it to rise at a CAGR of 8.4% between 2017 and 2025 to become worth US$110.02 bn by the end of 2025 from US$ 53.36 bn in 2016.
Some of the factors stoking the Water Purifier Market are:
Rise of a new tribe of health conscious people keen on buying new devices to improve the quality of water
Potable water getting scantier in the face of a rising population worldwide thus placing the onus upon local authorities and even federal governments to increase the supply of clean, drinking water
Widespread industrialization across nations, particularly developing ones, that is fast contaminating water bodies thereby necessitating measures to purify them
Threat of severe ailments, namely typhoid, cholera, and pneumonia resulting from the intake of impure, contaminated water has also promoted the usage of water purifiers
Constant thrust by players to create more innovative and effective products and thrust on making their prices more affordable is also having a positive impact on the market
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The report finds that on account of the aforementioned factors, water purifiers are seeing solid uptake across households, commercial units, and industries. The industrial sector, among the three is responsible for driving most of the demand. Expanding commercial and residential activities are also stoking the market.
For players wanting to bet sagaciously on the market, here are a few key pointers to enable them to spot opportunities.
The different types of accessories for water purifiers available in the market are faucet mount, water dispenser, replacement filters, under sink filter, household filter, shower filter, and counter top filter. Among them, the replacement filter segment is seeing maximum uptake on account of small cycle time and affordable prices. Apart from that, sediment filter, counter top, and pitcher filter are also witnessing impressive adoption thereby spelling opportunities for key players.
Asia Pacific holds out maximum opportunities for players at present. This is because the region is home to about two thirds of the world population which is roughly about 4.4 billion people. This has put a severe strain on natural resources, especially in densely populated developing nations of India and China. This, coupled of the increasing spending capacity of people and rising awareness on account of swift urbanization has filliped the demand for water purifiers in the region. Over the course of the forecast period, Asia Pacific market will rise at maximum pace, predicts the report by TMR.
The Middle East is another driver of demand. This is because of the acute scarcity of freshwater from natural resources in the region, which forces it to bank upon salty ocean water to satisfy daily household, commercial, and industrial needs. To make the ocean water befitting for use, desalination is needed.