Water Purifier Market: Introduction
Transparency Market Research delivers key insights on the global water purifier market. In terms of revenue, the global water purifier market is estimated to expand at a CAGR of ~ 9% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the water purifier market report.
Water purifiers help in removing bacterial contaminants and viruses from water and make it safe for drinking. Most water purifiers nowadays provide complete purification systems, which also include water filters and softeners. The demand for reverse osmosis water purifiers is increasing due to their more efficient purification technology in removing water impurities.
In this market report, TMR predicts that the demand for water purifiers will increase in Asia Pacific. This is due to the growth in the population in the region, rising awareness about usage of safe drinking water, and increasing number of global players in the region. The penetration of water purifiers in tier II and tier III cities is increasing with increasing awareness related to using safe drinking water, which is helping in proliferating the demand for water purifiers. Additionally, the increasing demand for technologically-advanced processes for the better purification of water is also anticipated to boost the growth of the water purifier market.
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However, low penetration in rural areas is one of the key restraining factors in the growth of the water purifier market. Lack of awareness, usage of substitutes, reluctance to buy water purifiers due to cost, etc., are some of the prime reasons for the low penetration of water purifiers in rural markets. Additionally, manufacturers incur huge capital costs in providing water purifiers at affordable prices in rural areas. This restrains many manufacturers from entering rural markets.
However, regions such as the Middle East & Africa, South America, and Asia Pacific offer tremendous growth opportunities for the growth of the water purifier market. Many countries in these regions have scarce water resources. Hence, the demand for water purifiers is anticipated to rise during the coming years. Additionally, the governments of different countries in these regions are taking initiatives by partnering with manufacturers to help them increase their geographical presence. This is one of the key business opportunities for the growth of the water purifier market.