Water Purifier Market To Surpass US$ 154.8 Bn By 2030

Water Purifier is the equipment used to purify and remove contaminants from water, such as chemicals, pathogens, harmful substances, microorganisms, and other dissolved solids, to make it clean and portable. Tese purifiers utilize chemical processes, physical barriers, and biological processes. They use different processes and filters to purify the water which includes adsorption, sieving, ion-exchange, biological metabolite transfer, and other processes in order to remove impurities from water. These filters clean water based on the application such as public and private aquaria, drinking water, irrigation purpose, and ponds & swimming pools application. Water purifiers are gaining huge demand on account of the increasing of risk of water contamination due to water pollution.

Market Statistics:

The global water purifier market is expected to surpass US$ 154.8 Bn by the end of 2030.

Drivers

Increasing water pollution

Increasing water scarcity due to rising underground water pollution and other environmental factors are expected to augment the growth of the global water purifier market. For instance, in January 2022, Whirlpool Corporation a manufacture of purifier announced the establishment of its Global Technologies & Engineering Center (GTEC) at Pune, India in order to develop new technology for its products. One of the largest innovation hubs in the world for Whirlpool Corporation, GTEC plays a significant role in the company's global product research and development. GTEC is working to develop cutting-edge technologies including Industry 4.0, IoT, and others.

Market Opportunities

Increasing cases of water-borne diseases worldwide are expected to fuel the demand for water purifiers. According to the World Health Organization (WHO), diarrhea causes 4% of all deaths and 5% of health loss to disability. It is most commonly caused by gastrointestinal infections, which kill around 2.2 billion people globally each year, mostly children in developing countries. Diarrhea is caused by a host of bacterial, viral, and parasitic organisms present in contaminated water.

Recent Developments

In October 2020, Livpure, an India-based manufacturer of water purifiers, launched Zinger and Platino+ Copper Water Purifer, which delivers 70% water recovery

Market Restraints

Lack of awareness regarding the importance of water purification and filtering process among the rural population is expected to hamper the global water purifier market growth. Rural consumers utilize alternative methods such as chlorinating, cloth straining, boiling, and slow sand filtration. This is expected to hamper the global water purifier market growth.

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Key Takeaways:

The global water purifier market was valued at US$ 83.31 Bn in 2022 and is forecast to reach a value of US$ 154.8 Bn by 2030 at a CAGR of 78% between 2023 and 2030.

Based on end user, the household segment was valued US$ 83.31 Bn in 2022 and is expected to witness a CAGR of 8% over the forecast period. Owing to the increasing population coupled with rise in families and households across the globe, the demand for water purifiers in houses as been surging in household category.

Impact of Coronavirus (COVID-19) Pandemic

Because of containment methods such as lockdowns and social isolation, the COVID-19 pandemic has caused significant disruption in demand and supply, as well as raw material supply. During the epidemic, the installation of such laws slowed market expansion.

Market Trends

The rising trend of green movement and convergence of water and energy is projected to accelerate the market growth. Moreover, increasing investments in the Middle East region in desalination technology of water is also expected to augment the market growth over the forecast period.

The major market players operating the market are introducing water purifiers with Wi Fi technology and filter pitchers in order to expand their market presence. For instance, in January 2020, DuPont, a company delivering a broad range of technology-based products and solutions, completed the 2019 acquisition of Desalitech, inge GmbH, Memcor, and OxyMem Limited; adding to its leading portfolio of water purification and separation technologies including ultrafiltration, reverse osmosis, and ion exchange resins.

Competitive Section: