Rapid Population Growth and Urbanization to Drive Water Purifier Market to US$95.57 bn by 2023

2024-12-24 05:41:31 News & Society

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According to a new market report published by Transparency Market Research entitled ?Water Purifier Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,? the global water purifier market is expected to reach a value of US$95.57 bn by 2023. The market is estimated to expand at a CAGR of 9.0% during the forecast period from 2015 to 2023. The increasing scarcity of fresh water resources, rapid population growth, aging water infrastructure, need for water reuse and recycling in water intensive industries, increasing consumer awareness about drinking water quality, and expanding commercial and residential construction activities are the key factors driving the growth of water purifier market, globally.

Asia Pacific was the largest geographical segment of the water purifier market in 2014 with about one-third of the share of the total market. The increasing population growth, coupled with the rapid pace of industrialization and agricultural development are the primary drivers of growth for water purifiers in Asia Pacific. Demand in this region is also supported by increasing awareness among the rural population regarding cost-effective water purifiers. Moreover, water regulation initiatives taken in in countries such as India and China have also intensified the demand for water purifiers, mainly in the household and industrial end-use sectors.

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The RO purifier segment occupied a major share of the water purifier market by technology in 2014. The RO purifiers use a semipermeable membrane to remove larger contaminants from water, specifically in households and industrial settings. Seawater and brackish water desalination processes form the major use for RO membranes. The RO purifier segment is anticipated to grow the fastest, with an expected CAGR of 10.1% during the forecast period due to their high efficiency in water purification.

The household end-user segment acquired the majority share of the water purifier market, accounting for the majority of the water purifier market in the year 2014. It is also the fastest-growing segment, projected to expand at a CAGR of 10.6% from 2015 to 2023. Rising health concerns related to water contamination among consumers, especially in rural areas, has led to high adoption of water purifiers among household end-users.

Leading water purifier manufacturers in 2014 include Tata Chemicals Ltd., Pentair Residential Filtration, LLC (EVERPURE), GE Corporation (Water), Eureka Forbes, Kent RO Systems Ltd, Aquatech International, Aquasana, Inc., Culligan International Company, Brita GmbH, and Kaz USA, Inc.

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