Major players in the water purifiers market are Xiaomi, Livpure, LG Electronics, Unilever N.V, Panasonic Corporation, Kinetico Inc, Aquatech International LLC, GE Appliances, A.O. Smith Corporation, and Whirlpool Corporation.
The global water purifiers market is expected to grow from USD 35.05 billion in 2019 and to USD 35.72 billion in 2020 at a growth rate of 1.90%. The slow growth in 2020 is mainly due to the economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to grow and reach USD 46.27 billion in 2023 at a CAGR of 9.01%.
The water purifiers market consists of the sales of water purifiers and related services. Water purifiers are the devices used to purify water from the biological contaminants, toxins, harmful chemicals & gases, and other impurities such as solid particles so that it can be safe for drinking. It also decreases the level of hazardous pollutants in it and making it suitable for the industries before releasing it into the water bodies.
Asia Pacific was the largest region in the water purifiers market in 2019. North America was the second-largest region in the water purifiers market in 2019.
The increased usage of the internet of things technology (IOT) enabled water purifiers is an emerging trend in the water purifiers market. The Internet of Things is a network that contains interrelated physical components that can be accessed using the internet for collecting and exchanging data. In water purifiers, the Internet of things is used to give information on the water quality, life of the filters, total dissolved solids levels, and service support. For instance, MI (Xiaomi), a Chinese smartphone manufacturer recently launched the Mi Smart Purifier which is an app-enabled and can be linked to the Xiaomi Home app. The app gives the data of total dissolved solids (TDS), and remaining filter life. Most of the recent products nowadays are enabled by the internet of things, so it is expected to be an emerging trend in the water purifiers market.
High maintenance and equipment cost are expected to hinder the growth of the water purifier market during the period. The average cost of water purifiers ranges from USD 100 to USD 2,773 depending on the model and it needs repeated maintenance, especially in the case of Reverse Osmosis Purifiers which require a maintenance every 3 to 12 months depending on the usage of water. The maintenance cost ranges from USD 120 to USD 750, which cannot be afforded by the people living in rural areas or those belonging to under the poverty range population. Consequently, high equipment and maintenance cost is anticipated to hinder the growth of water purifiers.
In January 2020, Dupont, an American company acquired Desalitech an Israel-based Desalination Corporation, which uses a technology named closed-circuit reverse osmosis (CCRO) for an undisclosed amount. Dupont aims to improve the reuse of wastewater and the acquisition will bring the CCRO technology to the company and it will reduce the cost of the water life cycle and promote 95% percent of its recovery. It will support the business strategy of Dupont in accelerating productivity by the introduction of this innovative technology. Desalitech is a global leader in reverse osmosis whose patented technology is widely used in municipalities and industries as if offers a high recovery rate with minimal manpower and cost.
The scarcity of safe water is contributing to the growth of the water purifier market. According to the United States National Ocean Service, about 97.0% of the water on earth is salt water and the remaining 3.0% is available in the form of ice, vapor, groundwater, and freshwater sources. Factors such as growing industrialization, urbanization, increasing population is contaminating water with harmful contaminants. Contaminants in water can be found in the form of disinfection by products, solvents, and pesticides, arsenic and others. Also, depleting water sources further adds to the safe water crisis across the globe. Water has to be treated or purified before using and this is done by the water purifiers. According to the World Health Organization’s annual report, which was published in June 2019, about 2 million people worldwide are drinking water that is contaminated with the faecal matter. Therefore, the rise in the scarcity of safe water is expected to boost the demand for water purifiers over the forthcoming years.
For More Information on the Research Report, refer to below links: –
Related Report: –
Contact Us: –
Ankur Gupta, Head Marketing & Communications