DUBLIN--(BUSINESS WIRE)--The "Consumer Water Purifier Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global consumer water purifier market was valued at US$17.344 billion in 2019.
The market for consumer water purifiers is projected to witness healthy growth over the course of the next five years majorly on account of the rising concerns regarding the benefits of clean drinking water especially in the underdeveloped economies where the purchasing power is comparatively low. The rapid growth in the number of deaths due to water-related diseases is one of the leading causes for the inclination of the people towards water purification systems. According to the statistics from the World Health Organization, around 3.4 million people die each year due to water-related diseases, and the WHO states these can be mitigated to some extent with the use of various inexpensive purification systems.
Furthermore, the rapid urbanization in the developing economies of the region coupled with a rise in the middle-class population in various countries including India, China, Brazil, and Indonesia among others are also some of the key factors propelling the demand for water purification systems, thereby driving the market growth during the next five years. Furthermore, the improvement in standards of living is also driving the demand for water purifiers in the undeveloped and developing economies as well. Also, the availability of clean water and safe water by municipalities of various countries has also led to a decent increase in the adoption of water purifiers, this, in turn, is also projected to positively impact the consumer water purifier market growth.
Rapid technological advancements is driving the market growth significantly
The rapidly growing consumer requirements have led to the constant participation by the key market players for the development and launch of new products with an aim to expand their market share and gain a competitive edge over other players. For instance, recently in February 2020, Havells India Limited, one of the leading FMEG Company based out of India, announced the launch of its latest Delite Alkaline High Recovery, eco-friendly water purifier with 50%+ water recovery. In addition, during the same month, Livpure announced the launch of a new product line up for its water purifier segment.
Similarly, in August 2019, Kent RO Systems announced the launch of a new purifier product KENT Ace Star RO Water Purifier. Furthermore, the investments by new market players in the market for entering into new business segments are also considered to be a prime factor supporting the market growth during the next five years. For example, in September 2019, Xiaomi Corporation announced the launch of its latest product offering Mi Smart Water Purifier for its sale in India.
Also, booming investments in the form of R&D and rising inclination of key market players for the development of new products in concern with various social issues. For instance, in December 2019, Kent announced its latest technology that is aimed towards zero wastage of water; the company also states that not even a single drop of water will be wasted.
Furthermore, in October 2016, Blue Star, a globally known manufacturer of air conditioners, commercial refrigeration systems announced its entry into a new business segment of residential water purifiers. All these factors are collectively contributing to the consumer water purifier market growth throughout the forecast period.
The market is also poised to grow on account of the rising government focus towards the development of commercial infrastructure that includes, hotels, airports, metros, shopping malls, movie theatres, and commercial buildings such as offices. The booming initiatives by the governments of various countries is also propelling the opportunities for the key manufacturers and vendors to invest more in the market and gain a competitive edge over other players.
For instance, Saudi Arabia and UAE have their main focus in the development of commercial infrastructure which is indicated from the fact, there are various initiatives taken by the government of major countries like Saudi Vision 2030, UAE Vision 2021 and UAE Vision 2023 that include the construction of new hotels, airports, and metros. This, in turn, is also expected to add up to the requirements of commercial water purifiers, thus driving the market growth during the next five years.
Asia Pacific to hold a considerable market share
The Asia Pacific region is projected to hold a considerable market share throughout the forecast period. The major factor bolstering the share of the APAC region includes the presence of a considerably large population base across the region especially in countries like India and China among others. Furthermore, the growing middle-class population and rapid urbanization in the developing countries of the region is also a key factor bolstering the growth during the next five years. Also, the presence of key players of the market in the region is further supplementing the market growth throughout the forecast period.
Prominent key market players in the consumer water purifier market include Eureka Forbes, KENT RO, TATA, and A.O Smith among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the consumer water purifier market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
By Distribution Channel
- North America
- South America
- Middle East and Africa
- Asia Pacific
- Eureka Forbes Ltd
- Kent RO Systems
- LG Electronics
- TATA Chemical Ltd.
- Panasonic Corporation
- A.O. Smith Corporation
- Livpure Pvt. Ltd.
- Alfaa UV
For more information about this report visit https://www.researchandmarkets.com/r/v4pu0i