June 21, 2021 09:30 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, June 21, 2021 (GLOBE NEWSWIRE) - By 2028, the global water purifier market is expected to reach USD 47.53 billion, with a compound annual growth rate of 7.2% during the forecast period. Fortune Business Insights pointed out in a report entitled "Water Purifier Market, 2021-2028" that the emergence of technologically advanced smart water purifiers will promote the healthy growth of the market. The market size in 2020 will be USD 27.51 billion. In the foreseeable future, friendly purifiers will stimulate demand.
Insufficient manpower in manufacturing units causes market shrinkage
The supply chain disruption caused by the pandemic has caused huge losses to the global market. The labor shortage caused the production process of each facility to stop. For example, Pentair PLC, a leading supplier of water purification systems, recorded slow production and operations due to regulatory authorities’ “shelter-in-place” orders. Nevertheless, some companies are adopting business plans to mitigate the impact of the epidemic. Similarly, the government is revising its lending policy and supporting the cash flow of small and medium-sized manufacturing industries.
According to WaterWorld Magazine, in 2020, approximately 44% of Water and Wastewater Equipment Manufacturers Association (WWEMA) manufacturing members and 60% of WWEMA representative members received help through the U.S. Federal Payroll Protection Program
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The list of leading companies introduced in the global water purifier market are:
Point-of-use filter market segment dominates the market
According to the product type, the global market is divided into point-of-use filters and point-of-entry filters. The point-of-use filter market segment is further divided into under-counter filters, countertop filters, kettle filters, faucet-installed filters, etc. According to the category, the market is divided into RO filters, UV filters, gravity filters, etc. According to the application, the market is divided into residential and light commercial. The residential sector will occupy the largest share in 2020.
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Increase the preference for high-quality drinking water to promote the growth of the water purifier market
Therefore, increasing understanding of drinking water quality standards in emerging countries will promote market growth during the forecast period. Advances in water purification systems will make the market expand rapidly. Similarly, the implementation of entry point and point-of-use filtration systems to eliminate pathogens has led to a surge in the market. The continuous improvement of the utilization rate of this kind of purifier in specific and general applications, such as the conversion of raw water into safe and higher grade water, will further increase the market share of water purifiers.
Continuous innovation in technical processes involving ultraviolet light, reverse osmosis, and gravity-based purifiers may be important factors to promote market growth. The emergence of smart water purifiers with groundbreaking technology will stimulate the adoption of water purifiers in residential and commercial sectors.
For example, in April 2019, Culligan International, a water treatment company based in the United States, announced the release of ClearLink Connect and Drinking Water Connect accessories. The newly launched accessory can be connected via a mobile app, Culligan Connect, which enables users to monitor their drinking water system and stay informed.
The report reveals excellent insights into the market, detailed analysis of system data, market dynamics and aspects showing development and growth, detailed information about important market players, and procurement statistics about advantageous regions.
Raise awareness of water-borne diseases to promote growth in the Asia-Pacific region
The Asia-Pacific market will occupy the largest share in 2020 and is expected to lead the market during the forecast period. The region’s growth is attributable to increasing awareness of the adverse health effects of water-borne diseases in the region. The increasing investment of well-known companies such as Brita LP and AO Smith Corporation in the Indian market will significantly promote the growth of the Asia-Pacific market.
Increasing adoption of this type of purifier in Japan, South Korea, Australia, New Zealand and other countries will promote the growth of the market in this region. As residents of countries such as Germany, the United Kingdom, and France increasingly use purifiers, Europe is expected to occupy a major share of the global market. The increase in tap water consumption will further promote the growth of the European market. According to data from the German Energy and Water Industry Association, approximately 83% of Germans drink tap water regularly or occasionally, and consume an average of 9 liters per person per week.
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July 2019: Water treatment company Pentair PLC announced that it has signed a cooperation agreement to acquire Pelican Water Systems, a manufacturer of environmentally friendly water softeners and filtration systems. The agreement involves a $120 million transaction aimed at expanding its geographic footprint.
Take a look at the relevant research insights:
Point-of-use water treatment system market size, share, and COVID-19 impact analysis, by product type (under-counter filter, countertop filter, water tank filter, faucet-installed filter, and others), by category (reverse osmosis filter) , UV filters, gravity filters and others), forecast by application (residential and light commercial) and area, 2021-2028
Liquid waste management market size, share and industry analysis, by source (residential, commercial and industrial), by industry (paper and pulp, chemical and petrochemical, food and beverage, textile and tanning, etc.) and regional forecasts, 2019-2026
Water treatment chemicals market size, share and industry analysis, by type (coagulants and flocculants, corrosion and scale inhibitors, pH regulators and stabilizers, defoamers, fungicides and disinfectants, others), by final Application industry (municipal, oil and gas, mining, power, paper and pulp, food and beverage, others) and regional forecasts, 2021-2028
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