by The global water purifier market is on the brink of significant expansion, poised to exceed the US$20 billion mark by the end of 2021, according to a comprehensive study. This robust growth trajectory is driven by several key factors that are shaping the industry landscape.
Smart Filtration Revolutionizes the Water Purifier Market
Technological innovation is reshaping the consumer goods sector, and water purifiers are no exception. The emergence of smart water purifiers with advanced features is a booming trend in the consumer electronics industry. These intelligent filtration systems are user-friendly, boasting multiple stages of water purification. Smart filters are capable of monitoring water usage and mineral content, automatically adjusting purification settings as needed. They can even generate maintenance alerts and notifications for users. As global living standards rise and consumer spending capacity increases, there is a growing demand for smart water purifiers with cutting-edge technology. Manufacturers are responding by developing more efficient products that cater to this technological inclination, making smart water filtration products a significant driver of growth in the water purifier market.
Marketing Channels Enhance Awareness and Drive Market Growth
The markets growth is further fueled by the increasing awareness of water purification products and their technologically advanced features, thanks to innovative marketing campaigns by manufacturers. Digital marketing strategies, coupled with the expansion of retail stores, have contributed to the overall value growth of the water purifier market. Seasonal discounts offered during festivals, both in emerging and developed economies, are also expected to significantly boost water purifier sales.
Escalating Waterborne Diseases Fuel Demand
The rising prevalence of waterborne diseases has led to a surge in the use of water purification systems. According to the World Health Organization, over 3 million people die each year due to illnesses related to contaminated water consumption. Children under the age of 15 are particularly vulnerable, with around 85,700 deaths annually attributed to diarrhea caused by unsafe water. As a result, a large percentage of individuals are now turning to safely managed water services. In 2020, approximately 74% of the global population relied on such services. This has led to increased use of water purifiers in public places, parks, malls, theaters, and museums, further driving market growth. With over 2 billion people living in countries facing water challenges and 2 billion using contaminated water sources, the demand for efficient water treatment solutions is steadily rising, contributing to the expansion of the water purifier market.
RO Filters Gain Momentum
Reverse osmosis (RO) filters are expected to gain widespread adoption in the coming years due to their superior filtration capabilities and the removal of contaminants compared to other filter types. RO filters are particularly effective in treating hard water, offering a superior barrier against undesirable minerals. This makes them a preferred choice in areas with a high percentage of hard water, further bolstering the water purifier markets value growth.
Asia Pacific Emerges as a Key Market
The Asia Pacific region is poised to become a crucial revenue pocket in the global water purifier market. Emerging economies in the region are experiencing a surge in waterborne diseases, resulting in a growing health burden. For example, in India alone, approximately 37 million people are affected by waterborne diseases each year, with 1.5 million children dying from diarrhea, creating a significant economic burden. The regions increasing population also drives the demand for pure water, making it an attractive market for water purifier manufacturers.
Competitive Landscape
Key players in the water purifier market include A. O. Smith, Pentair PLC, General Electric Company, Panasonic Corporation, LG, Unilever PLC, and Kent RO Systems Ltd.
As the global water purifier market continues to grow, manufacturers are expected to innovate further, introducing advanced technologies and features to meet the increasing demand for clean and safe drinking water.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/water-purifier-market
Visit Our Blogs:
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: sales@fairfieldmarketresearch.com
This press release first seen on Brilad
COMTEX_442108590/2840/2023-10-19T04:37:34
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.