According to a research report on the water purifier Market by TMR, the market is projected to rise at a CAGR of 10.5 % and reach a value of USD 95.4 Bn by the end of 2031. Earlier in 2021, this market earned revenue of USD 38.7 Bn and is expected to rise remarkably during the forecast period set between 2021 and 2031.
The water purifier is a high level gadget used to clean the water by eliminating undesirable and unsafe substances from the water. They really eliminate suspended particles, unfortunate materials, synthetic substances, and gases from the water. They are grouped into gravity purifiers, RO purifiers, UV purifiers, silt channels, and water softeners. Rising water pollution because of different environmental factors, for example, industrialization all over the planet has raised the interest for water purifiers. The water purifier is accessible in various sorts, for example, wall-mounted, countertop, tabletop, and faucet-mounted. They are broadly utilized across industrial, commercial as well as household applications.
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Increasing Demand from Processing and Manufacturing Industries will Add Impetus to Market Growth
Almost all manufacturing and processing industries use a lot of water for operations. These ventures are likewise impacted seriously by a water emergency. Accordingly, the rising popularity of recyclable water is further driving the requirement for water filtration frameworks in these areas. Interest in advanced technology-empowered water treatment purifiers is expanding to find solutions to water pollution, an outcome of untreated water released by handling businesses. Development in the number of manufacturing units in the food and beverage industry is probably expected to promote the sales projections in the water purifier industry in the forecast period.
Increasing Awareness about Water-borne Diseases Propelling Demand for Water Purifiers
People are getting comfortable with the advantages of water purifiers because of the growing awareness about the contaminations present in the water supply and the development of investments in new marketing strategies by leading players in the water purifiers market. The presentation of advanced, areas of strength for marketing in retail stores in creating districts, and consistent expansion in the accessibility of water purifiers sold through retail services is enlarging the interest for water treatment arrangements. Solid government drives in emerging nations to make individuals mindful of water-borne diseases through different public missions are making mindfulness about water purity and its advantages in emerging nations.
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Portable Purifiers Segment Emerged Dominant Owing to Convenience
With respect to portability, the global water purifiers market is bifurcated into non-portable water, and portable water purifiers. Among these, the portable water purifiers segment earned the dominant share on account of the increasing number of outdoor activities taken by health conscious people. The increasing number of adventure and sports or hiking activities automatically propels the demand for water purifiers, thereby increasing the sales growth for water purifiers market in the forecast period.
Asia Pacific Holding Largest Share Owing to Rising Number of Nuclear Families
Demographically, Asia Pacific emerged as the largest revenue generator for water purifier market on account of the increasing rate of population and the rise in the number of nuclear family settlements. The rise in disposable incomes of people and the growing rate of waterborne diseases have propelled people to opt for healthier lifestyle choices and this further propelled the demand for water purifiers. Additionally, the rising awareness about health concerns among people have further propelled consumers to opt for quality water purifiers, ultimately increasing the sales projections of the water purifiers market for this region in the forecast period.
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Players focusing on Improving Product Portfolio to Gain Competitive Edge
Leading players of the water purifiers market are indulging in large scale vendor strategies for holding majority of the shares in the market competition. Additionally, some of the players are engaging in joint ventures and collaborations to ensure notable revenue generation in the forecast period. Top players are also making extra efforts to improve their product portfolio so as to ensure their brand name amongst the top players of the competition.
Some of the key players of the global water purifiers market include Brita, Pentair Plc., Kent RO System Ltd., 3M Purification Inc., Aquatech International LLC., Smith Corporation, Coway Co.Ltd., Whirlpool Corporation, and others.
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