Growing Industry Focus on Water Reuse amid Looming Water Crisis Benefits Demand for Water Purifiers
By 2026, the global water purifier market will reach 63.7 billion US dollars
The global water purifier market is estimated to be US $38.2 billion in 2020, and is expected to reach a revised scale of US $63.7 billion by 2026, growing at a compound annual growth rate of 8.7% during the analysis period.
The increase of global population and the consequent increase of consumption water demand, as well as the increase of water demand in chemical, food and beverage, construction, petrochemical, oil and natural gas industries, have caused the gap between water supply and demand. This has led to increased investment in products that can purify used water for reuse. Manufacturers seem to be taking full advantage of this growth opportunity and developing purifiers dedicated to specific industries.
The growing concern for people’s well-being and health, as well as the increasing adoption of sanitary practices, contribute to the growth of the global market for water purifiers. Another major growth driver of the water purifier market is the increasing demand for water purifiers in emerging countries, where the disposable income continues to increase, providing customers with higher purchasing power. The growing attention of governments and municipalities to water treatment has also driven demand for purification systems in these markets.
Reverse osmosis purifier is one of the market segments analyzed in the report. It is expected to grow at a compound annual growth rate of 9.4% to reach 41.6 billion dollars by the end of the analysis period. After a comprehensive analysis of the commercial impact of the pandemic and the economic crisis it triggered, the growth of the UV purifier sector will be readjusted to a compound annual growth rate of 8.5% in the next seven years.
This segment currently accounts for 20.4% of the global water purifier market. The technological progress in the field of reverse osmosis makes RO the most popular technology in the field of water purification. The increase of the population in the regions where the service centered industries are located (such as China, Brazil, India and other countries/regions) also leads to an increase in the demand for RO purifiers.
The US market is expected to reach US $10.1 billion by 2021, while China is expected to reach US $13.5 billion by 2026
By 2021, the water purifier market in the United States is estimated to be US $10.1 billion. The country currently accounts for 24.58% of the global market share. China is the second largest economy in the world. It is estimated that the market size will reach US $13.5 billion by 2026, with a compound annual growth rate of 11.6% in the analysis period.
Other noteworthy geographic markets include Japan and Canada, which are expected to grow by 6.3% and 7.4% respectively during the analysis period. In Europe, Germany is expected to grow at a CAGR of about 6.8%, while other European markets (as defined in the study) will reach $2.8 billion at the end of the analysis period.
The United States is the main market for water purifiers. In addition to the growing concern about water quality, factors such as the availability of cheaper and compact products, products that can remineralize water to improve its health and taste, and the increasing demand for water disinfection due to the continuing pandemic have also played a role. Growth of water purifier market in the United States.
The Asia Pacific region is also a major market for water purification systems. In most developing countries in the region, about 80 per cent of diseases are caused by poor sanitation and water quality. The scarcity of safe drinking water has promoted the innovation of water purifiers supplied in the region.
The gravity based market segment will reach 7.2 billion US dollars by 2026
Due to the increasing demand of consumers for simple, convenient and sustainable water purification methods, gravity based water purifiers are becoming more and more popular. Gravity water purifier does not rely on electricity, and is a convenient choice to remove turbidity, impurities, sand and large bacteria. These systems are becoming more and more popular because of their portability and consumers’ growing interest in simple purification options.
In the global gravity based market segment, the United States, Canada, Japan, China and Europe will drive the estimated 6.1% CAGR of this segment. The total market size of these regional markets in 2020 is US $3.6 billion, which is expected to reach US $5.5 billion by the end of the analysis period.
China will still be one of the fastest growing countries in this regional market cluster. Led by Australia, India and South Korea, the Asia Pacific market is expected to reach 1.1 billion US dollars by 2026, while Latin America will grow at a compound annual growth rate of 7.1% throughout the analysis period.
Post time: Nov-22-2022