Press Release Description
India Residential Water Purifier Market Projected to Flourish at a CAGR of Around 16,34% During Forecast Period
The India Residential Water Purifier Market is anticipated to grow at a CAGR of about 16.34% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The surge in waterborne diseases, encompassing ailments like cholera, typhoid, dysentery, and gastroenteritis, has sparked heightened health apprehensions among Indian consumers. Contaminated water sources have emerged as a chief conduit for these diseases, propelling individuals to seek reliable means to purify their drinking water. This has historically driven the uptake of water purifiers, specifically designed to mitigate or diminish the concentration of disease-causing microorganisms such as bacteria, viruses, and parasites.
Moreover, the escalating discharge from industries, improper sewage disposal, and runoff from agricultural activities contribute substantially to the increasing pollution of water sources nationwide, resulting in a surge in waterborne diseases. This alarming scenario has significantly intensified consumer concerns regarding the safety of drinking water, catalyzing the widespread integration of water purifiers into households.
Additionally, in the past few years, individuals have opted for bottled water as a dependable and secure substitute due to growing concerns about the quality of tap water in some areas. Additionally, bottled water offers rapid accessibility without the need for additional purification steps. This convenience has been very popular, especially for those who lead hectic lives. Due to their heavy reliance on bottled water, customers felt less urgency to purchase a home water purifier, which has had a detrimental impact on the market growth of water purifiers. Because bottled water is so easily accessible, people tend to assume that their demands for drinking water are already satisfied and they don't need to purify it further at home.
Furthermore, with rising industrialization and urbanization, the urban population of the country has been rising considerably in recent years. This has led to a significant enhancement in investments in the construction of residential buildings in recent years. Hence, as the development of the residential sector improves, it would create an opportunity for the water purifier industry in the coming years, further states the research report, “India Residential Water Purifier Market Analysis, 2024.”
Online Sales Channel to Dominate the Market
Based on the sales channel, the market is further bifurcated into Direct Sales, Retail, and Online segments. Among them, the online sales channel has been gaining popularity among consumers in recent years in India. This substantial growth of the Indian e-commerce sector has been largely attributed to the improving internet and smartphone penetration, which has been improving consumers' access to these platforms. Hence, many manufacturers have embraced direct-to-consumer approaches by establishing their e-commerce websites, capitalizing on improved sales through enticing vouchers and discounts. This strategy has notably propelled the growth of the online sales segment in the residential water purifier industry.
Additionally, many water purifier manufacturers are trying to extend their product reach through the best-suited e-commerce platforms. With the market's ongoing expansion, online sales channels are poised to diversify further, anticipating the emergence of specialized retailers catering to distinct customer segments and preferences.
Non-Portable Water Purifiers Gaining Traction in the Market
The non-portable segment has dominated the India Water Purifier Market in recent years. This is primarily because consumers prefer to install these devices at fixed points in their homes and utilize their advanced technologies. Also, the surging awareness regarding water pollution, health considerations, and the essential requirement for safe drinking water in both urban and rural areas has led to a significant rise in the demand for non-portable water purifiers in residential setups. Moreover, the escalating number of new residential unit sales in India would further fuel this demand in the forthcoming years.
With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Eureka Forbes Limited, Kent RO Systems Limited, Hindustan Unilever Limited, Whirlpool of India, Ion Exchange (India) Ltd. (Zero B), Blue Star Limited, Livpure Smart Homes Private Limited, LG Electronics, A. O. Smith India Water Products Pvt. Ltd., UrbanClap Technologies India Pvt. Ltd., Panasonic India Pvt. Ltd., Bepure, Kinsco, and others, are looking forward to strengthening their market positions.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the country?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across the country?
- How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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