Water purifiers have become an essential household appliance due to growing water contamination issues. Water purifiers remove suspended particles, toxins, and microorganisms from water to make it safe for drinking purposes. Technological advancements have led to the development of portable water purifiers that can purify water on-the-go. Portable water purifiers are gaining immense popularity as they offer mobility and can purify water from any source such as taps, wells, borewells, and rivers.
The global water purifier market is estimated to be valued at US$61 Billion in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024-2029.
Key Takeaways
Key players operating in the water purifier market are Eureka Forbes, Kent RO Systems Ltd, Hindustan Unilever Limited, Livpure.
The key opportunities in the market include growing health awareness, increasing per capita spending on healthy living, and rising adoption of smart and connected water purifiers. Technological advancements such as UV and RO filters, ozone generators are making water purification more efficient.
Market Drivers
Rise in water contamination levels across the globe due to rapid urbanization and industrialization is a major market driver. According to WHO, around 2.2 billion people globally do not have access to safely managed drinking water services. Deteriorating water quality has increased the risks of water-borne diseases which is boosting the demand for water purifiers. Growing health concerns and changing lifestyles are making people opt for safe and clean drinking water. Stringent regulations regarding drinking water quality by governments and international bodies are compelling industries and municipalities to invest in advanced water treatment technologies.
Current Challenges in Water Purifier Market
The Water Purifier Market Demand is currently facing a few major challenges. Supply chain disruptions due to the Covid-19 pandemic have impacted the availability of key components and raw materials for water purifier manufacturers globally. Rising energy and operational costs are squeezing profit margins for companies. Stricter regulations around wastewater discharge in different countries have increased compliance requirements. Variable customer preferences across regions regarding water purification technologies like RO, UV, etc. also require customized product offerings.
SWOT Analysis
Strength: Rising health concerns about consuming impure water drives demand. Advanced purification technologies provide effective solutions.
Weakness: High initial purchase and installation costs limit mass adoption. Frequent filter replacements increase operating expenses.
Opportunity: Untapped rural markets in developing nations offer scope for expansion. Innovation in energy-efficient models can boost sales.
Threats: Utility of municipal water networks curb individual purifier usage. Localized water issues dont necessitate purifiers universally.
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