Water Purifier/Filter Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Water Purifier/Filter Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Global Water Purifier/Filter Market is expected to grow at a CAGR of greater than 7.5% during the forecasted period.

Due to the outbreak of the Covid-19 pandemic, the Global Water Purifier Market has seen a negative impact owing to the lockdowns imposed in several countries worldwide. These lockdowns temporarily halted the manufacturing of water purifiers. The manufacturing companies faced challenges due to decreased product demand and interruptions in component supply. Also, several countries witnessed curfew-like situations where businesses were not allowed to operate, which has negatively impacted the demand for water purifiers.

Various factors, such as growing awareness about water-borne diseases and technological advancements in water purifiers mainly drive the water purifier market. High equipment and maintenance costs may restrain the growth of the water purifier market. UV water purifiers and AI-based water purification systems are the latest trends in the market. Waterborne diseases like cholera, diarrhoea, typhoid, lead poisoning, and intestinal worms are caused by contaminated drinking water. Rising urbanization and industrialization have resulted in the pollution of water bodies. Chemical and power plants worldwide release hazardous and toxic materials into ponds, rivers, lakes, reservoirs, and other water bodies. The contaminated water then enters other larger water bodies, which are sources of drinking water. Waterborne diseases are caused due to the presence of heavy metals such as lead, zinc, copper, cadmium, nickel, magnesium, molybdenum, and cobalt. Thus, the importance of water treatment solutions has increased, which provides a massive growth opportunity for vendors operating in the water purifiers and filter market.

Water-related diseases kill a child every eight seconds and are responsible for 80% of all illnesses and deaths in the developing world a situation made all the more tragic by our long-standing knowledge that these diseases are easily preventable. Every year 3,575,000 people die from water-related diseases. This is equivalent to a jumbo jet crashing every hour. Most of these people are children (2.2 million). The scarcity of safe water is contributing to the growth of the water purifier market. Over 2 billion people live in water-stressed countries, which is expected to be exacerbated in some regions as a result of climate change and population growth.

Globally, at least 2 billion people use a drinking water source contaminated with faeces. Microbial contamination of drinking water as a result of contamination with faeces poses the greatest risk to drinking water safety. Safe and sufficient water facilitates the practice of hygiene, which is a key measure to prevent not only diarrhoeal diseases but acute respiratory infections and numerous neglected tropical diseases. Microbiologically contaminated drinking water can transmit diseases such as diarrhoea, cholera, dysentery, typhoid, and polio and is estimated to cause 485 000 diarrhoeal deaths each year. In 2020, 74% of the global population (5.8 billion people) used a safely managed drinking-water service that is, one located on premises, available when needed, and free from contamination.

In 2021, Asia Pacific has the largest water purifier market share in the global market and was estimated at USD 10.88 Billion. China is the largest shareholder in this market followed by Japan. Besides, the spurring rise in the commercial sector escalates the market value. The rising awareness of the clean drinking water benefits and growing prevalence of water-borne diseases, alongside government initiatives in the region, boost the market size.

The Asia Pacific water purifier market is primarily driven by the rising incidences of waterborne diseases. Along with this, the growing awareness among individuals regarding the health hazards caused by impure water has encouraged them to opt for water purifiers, especially in developing countries, like India and Vietnam. As a result, governments across the region have been actively working toward spreading awareness regarding clean water and water safety and security. Moreover, with the advancements in technology, manufacturers have introduced reverse osmosis and UV purifiers to expand their consumer base.

The Global Water Purifier/Filter Market is a consolidated market where the top 10 companies occupy approximately 65% of the market share. Some of the major players in this market are A.O. Smith Corporation, Eureka Forbes, Panasonic, Suez Water Technologies and Solution, and Kent RO System Ltd.

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