According to MarkNtel Advisors, the Global Water Purifier Market is likely to grow at a CAGR of 9% in the forecast period of 2021-26. The market growth is primarily due to the rising prevalence of water-borne diseases & mounting water contamination. Besides, the snowballing concerns towards wellbeing and health among people and increasing government initiatives to improve water quality are fueling the Global Water Purifier Market.
"Global Water Purifier Market Analysis, 2021" also cites that the introduction of low-price water purifiers by manufacturers and the growing income level of people are the factors that are likely to increase the penetration of water purifiers across rural areas of the countries, especially in countries like India.
Key Questions Answered in the Study
Covid-19 Positively Impacted the Global Water Purifier Market
The outbreak of the COVID-19 pandemic has brought the whole world to a standstill position owing to nationwide lockdown. Due to this, the temporary shutdown of factories and restriction on the movement of people has further disrupted the entire value chain.
However, the pandemic positively impacted the Global Water Purifier Market by disrupting the supply chain of bottled water, thereby propelling the sales of water purifiers. Moreover, the pandemic also led to burgeoning health awareness among people worldwide, thereby leading them to adopt healthy practices like water purification before consumption, which further augmented the demand for sustainable water treatment products.
Point-of-Entry Filtration to Witness Rapid Growth in the Forecast Period
Amongst the Type, the Global Water Purifier Market bifurcates into Houseware, Countertop Carbon, under sink Filtration, under sink Others, Point-of-Entry Filtration, and Point-of-Entry Softening segment. Of all, the Point-of-Entry Filtration segment is likely to grow at a substantial rate during the forecast period.
The Point-of-Entry Filtrations are installed at the waterline and act as centralized water purifiers for residential & commercial units. The POE filtration water purifier reduces the end user's cost of purchasing & installing individual air purifiers. Therefore, the demand for Point-of-Entry Filtration Water Purifiers is growing immensely in the global market.
"Global Water Purifier Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Water Purifier providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
North America & Europe Accounted for a Significant Share of the Global Water Purifier Market
Region-wise, the water purifier market is analyzed mainly across North America, Europe, and Asia-Pacific. Among these, Europe accounted for a growth rate of around 3 to 4% in 2020 (Y-oY growth), owing primarily to the surging demand for water purifiers in the residential sector. In 2020, the residential water purifier market exceeded USD 1.5 Billion bar alone in Europe.
Besides, the North American region witnessed a growth rate of 5% in 2020 (Y-oY growth). The growing water contamination & scarcity were the major factors propelling the demand for water purifiers, with the government initiative to shift the consumer preference toward energy-saving & electric-based solutions.
Moreover, the Asia-Pacific region held a substantial share in the previous years, due to the rising urbanization and health awareness among people. People are inclining toward using water purifiers to resist the spread of diseases like Ulcers & Cholera.
However, participation from countries like China is driving the Global Water Purifier Market subsequently. The increasing requirement of water purifiers in urban households and water contaminations are other crucial aspects propelling their demand across China, reveals MarkNtel Advisors in their research report, "Global Water Purifier Market Analysis, 2021."
Competitive Landscape
According to MarkNtel Advisors, the leading players in the Global Water Purifier Market are O. Smith Corporation (Aquasana Inc.), SUEZ Water Technologies & Solutions, Panasonic Corporation, LG Electronics, Eureka Forbes Limited, Kinetico Inc., Unilever Plc, GE Appliances, Ion Exchange LLC Aquatech International LLC, EcoWater Systems LLC., Whirlpool Corporation, Pentair Plc, 3M Company.
Market Segmentation: