Residential Water Purifier Market Report Overview
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The global residential water purifier market size is USD 15752.76 million in 2021 and is projected to touch USD 52482.8 million by 2031, at a CAGR of 12.79% during the forecast period.
The term "water purifier" refers to a portable device that cleans water of pathogens, bacteria, toxic chemicals, and other dissolved materials. Water purifiers are self-contained machines to make untreated water from lakes, rivers, and wells drinkable. The water is made drinkable by employing water purifiers to remove any hazardous bacteria and tiny Cryptosporidium parasites that could cause diarrhea. Generally speaking, homes and businesses are where you'll find water purifiers. Additionally, they are utilized by military personnel, campers, hikers, those who live in dry climates and don't have access to enough clean water, and people who travel in disaster-prone areas. Point-of-use water treatment systems and water purifiers both have similar names.
Two basic categories of water purifying systems make up residential water purifiers. A point-of-entry or whole-house filter system is installed at the point where water enters houses. The other type, called point-of-use systems, is put at the location where water is consumed. The water is completely purified when point-of-entry and point-of-use filter systems are installed, including pathogen removal and softening. The purification system uses filter media to remove impurities from raw water, producing better-quality purified water that is safe for both general and specialized purposes. These purifiers come in various technological configurations, including reverse osmosis, ultraviolet light, and gravity-based filtration.
COVID-19 Impact: Disrupted Supply Chain Hampered Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with residential water purifiers experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
The vital services category includes the water filtration sector, and the supply chain disruption caused by COVID-19 has had a considerable negative influence on the expansion of the worldwide market. The complete and partial lockdowns in important manufacturing nations brought on short-term production halts and changes in manufacturing schedules. The global residential water purifier market is anticipated to recover at a slower rate in the ensuing years due to the manufacturers' and tier 1, 2, and 3 distributors' installation of business continuity plans and mitigation measures Regional governments are also altering credit rules and promoting cash flow management to secure small and medium-sized manufacturing businesses.
LATEST TRENDS
"Awareness of Smart Water Purifiers to Aid Major Growth"
The advent of smart purifiers with cutting-edge technologies is a recent trend in the industry. Smart purifiers are simple and have a multi-stage system for purifying water. These filters keep an eye on the usage of water and change in settings as needed. Additionally, smart purifiers are made to send alerts and notifications to users when their maintenance cycle is complete. Therefore, it is anticipated that demand for these purifiers will increase throughout the projection period due to the quick development of such smart technology purifiers.
Residential Water Purifier Market Segmentation
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- By Type Analysis
By type, the market is segmented into RO water purifiers, UV water purifiers, and others.
- By Application Analysis
Based on application, the market is classified into apartments, houses, and others.
DRIVING FACTORS
"Various Benefits of Purified Water to Offer Growth Opportunities to the Market"
The residential water purifiers provide safe drinking water by removing dangerous bacteria, viruses, and other pollutants. Giardia and cryptosporidium removal decreases the risk of gastrointestinal disease. Additionally, it removes chlorine and its metabolites and lessens the risk of rectal and bladder cancer. Additionally, drinking clean water helps maintain an optimal energy level, enhance skin health, reduce weight, and strengthen the body's immune system. Water flavor and taste are more valuable after purification. As a result, using clean and safe water when cooking preserves the dish's flavor. Minerals are removed by household water filters, which can lower the water's overall quality. The purification at the water entry point extends the piping's life and greatly reduces maintenance costs.
"Rising Disposable Income Coupled with the Demand for Clean Water to Aid Growth"
Rising disposable income in emerging economies drives the expansion of the residential water purifier market. Customers' purchasing power increases as their income levels rise, raising their standard of living. In addition, the increased supply of safe water by municipalities and the rise in water recycling treatments are fueling the demand for water purification systems in developing nations. Due to population skill growth and increased employment in service-oriented industries, certain emerging economies, including Brazil and China, have seen their discretionary income surge. As a result, there was an increase in the need for water purification systems in these industries, which helped to spur the creation of the residential water purifier. Concerns about health and well-being have grown among people everywhere, which has
RESTRAINING FACTORS
"High Cost of Maintenance to Create Challenges in Market Growth"
The water purification filters must be changed on schedule to maintain the water's purity. Different filters have different replacement requirements depending on the product type and purification system technology. POU filters need to be replaced after 6 to 12 months, while point-of-entry filters need to be replaced after 5 to 6 years. The water filtration system's overall maintenance expense thus rises significantly. The high price of filters is a major obstacle in the residential water purifier market growth.
Residential Water Purifier Market Regional Insights
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"Asia Pacific to Be the Dominant Due to the Growing Awareness About Waterborne Diseases"
Asia Pacific is projected to hold a leading part in the residential water purifier market share due to the rising awareness about the waterborne disease and their harmful effects on health. Customers' demand for feature-rich purifiers is increasing as their living standards and purchasing power rise, particularly in developing nations in the Asia Pacific and the Middle East. This is creating market growth potential.
Europe is expected to be the second-largest leading region due to the growing use of tap water.
North America is forecasted to show sizable growth in the region owing to the presence of a major number of key market players.
KEY INDUSTRY PLAYERS
"Key Players Focusing On Innovative Technology Development to Grow in Market"
Businesses are working on developing new technology to offer more easy ways to increase product Several water purification technologies and products have undergone extensive research and development by leading industry participants. The major tactic employed by the market leaders for their success is a wide product portfolio, complemented by superior operational efficiency & new technologies. Companies with strong and well-established supply chains include Pentair PLC, Watts, A.O. Smith Co., and Brita. Leading businesses use new product development and the acquisition of small-scale manufacturers or suppliers as significant strategies to expand their regional footprint and keep up with the fiercer competition.
List of Market Players Profiled
- Culligan International (U.S.)
- Qinyuan Group (China)
- Angel (India)
- Haier (China)
- Honeywell (Switzerland)
- 3M Purification (U.S.)
- Watts (U.S.)
- Toray (Japan)
- GREE (China)
- Unilever (U.K.)
- Pure it (India)
- Hanston (U.K.)
- A. O. Smith (U.S.)
- LG Electronics (South Korea)
- Pentair (U.S.)
- Panasonic (Japan)
- Midea (China)
- Best Water Technology (Germany)
- Coway (South Korea)
- Kent RO Systems (India)
- Royalstar (India)
- Whirlpool (U.S.)
REPORT COVERAGE
The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for the market to show potential investment areas. From 2021 through 2027, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 15752.76 Million in 2021 |
Market Size Value By |
US$ 52482.8 Million by 2031 |
Growth Rate |
CAGR of 12.79% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the residential water purifier market expected to touch by 2031?
Based on our research, the residential water purifier market is projected to touch USD 52482.8 million by 2031.
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What CAGR is the residential water purifier market expected to exhibit by 2031?
The residential water purifier market is expected to exhibit a CAGR of 12.79% by 2031.
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What are the segments of the residential water purifier market?
By type, the residential water purifier market is segmented into RO water purifiers, UV water purifiers, and others. Based on application, the market is classified into apartments, houses, and others.
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Which are the top companies operating in the residential water purifier market?
Culligan International, Qinyuan Group, Angel, Haier, Honeywell, 3M Purification, Watts, Toray, GREE, Unilever Pure it, Hanston, A. O. Smith, LG Electronics, Pentair, Panasonic, Midea, Best Water Technology, Coway, Kent RO Systems, Royalstar, and Whirlpool are the top companies operating in the residential water purifier market.