Posted On: 2020-08-20
Global Water Purifier Market is projected to proliferate at a healthy rate in the forecast period on account of increasing disposable income and increasing investments in residential and commercial segments during the forecast period. -6WResearch
The rising instances of water contamination around the world are expected to propel the global water purifier demand during the forecast period. For instance, lead contamination in regions of the United States and Canada caused by antiquated water infrastructure would drive the demand for water purifiers in the region, on account of increasing awareness about the harmful health effects of lead, especially among children, including anemia, weakness, and kidney and brain damage. Moreover, increasing investments in the residential sector is also expected to accelerate the demand for water purifiers in several regions as waters purifiers are generally being incorporated in the condominiums by builders. However, in 2020, the sales of water purifiers are expected to drop during 2020, the effect of which would vary from country to country, owing to the coronavirus pandemic. This case could be attributed to a disruption in supply chain and people’s reluctance to buy luxury products such as water purifiers as they are expected to lean more towards buying first-priority products such as food and groceries amid a lockdown.
According to 6WResearch, Global Water Purifier Market size is projected to grow at a CAGR of 7.3% during 2020-26. The growing urban population is expected to flock to urban parts in the regions and the numbers are projected to grow rapidly over the coming years. The development of the urban population would act as a catalyst in the growth of water purifiers in the region's residential and commercial domain during the forecast period.
According to Kanika Arora, Senior Research Analyst, 6WResearch, “Asia acquired major revenue and volume share in the global water purifier market in 2019 and is anticipated to maintain its position on account of rising in disposable income of people, as well as rapid urbanization in the region over the coming years. Africa and Middle East regions are expected to grow substantially due to increasing risk posed by water-borne illnesses and efforts by national and international organizations to raise awareness about quality of drinking water in the regions during the forecast period.”
“RO water purifiers have a stronghold on the market owing to the consumer preferences for affordable and effective technologies for removing metallic contaminants. Further, RO+UV and RO+UV+UF are likely to register considerable growth due to growing consumer inclination towards improved technologies.”, Kanika Arora further added.
According to Akshay Kumar, Research Associate, 6WResearch, “Residential sector acquired the majority of the revenue share in the applications segment in 2019 as the demographic buying the water purifiers mostly purchase the product for the household. Further, increasing awareness among residential consumers about health risks posed by water contamination would accelerate the demand for water purifiers in the regions.”
Some of the key players in the global water purifier market are 3M Company, BRITA GmbH, Culligan International Company, LG Electronics Inc., Unilever PLC, Xiaomi Corporation, Toray Industries, Inc., Panasonic Corporation, BWT Aktiengesellschaft and Whirlpool Corporation.
“Global water purifier market (2020-2026)" report provides an in-depth analysis with 186 figures with 87 tables, covered in 317 pages. The report estimates and forecasts the overall global water purifier market by technology, distribution channels, end-users and regions including the Americas, Europe, Asia, Middle East and Africa. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.