Residential Water Purifier market expected to reach $33.4 billion growing at a CAGR of 14.6%

Global Residential Water Purifier Market Outlook

Global Residential Water Purifier Market valued USD 11.2 billion in 2016 which includes household water purifiers that remove impurities from water and makes it suitable for the drinking purpose. The global residential water purifier market is anticipated to reach USD 33.4 billion by the end of 2024, growing at a CAGR of 14.6% over the forecast period.

Market Overview

In 2015, World Health Organization WHO mentioned that over 1 billion people have no access to clean water source and every year around 2 billion deaths are caused due to consumption of contaminated water. This growing deterioration in water quality and scarcity of fresh water resources has increased the adoption rate of residential water purifier in past few years.

Main objective of residential water purifier is to eliminate suspended solids and undesirable substance from contaminated water and make it suitable for household purpose. Moreover, rising urbanization is also boosting the demand of residential water purifier across the globe.

In 2014, as per United Nations Organization UNO , more than 3.5 billion populations are living in urban areas and the number is expected to increase rapidly in near future. In 2015, over 94.0% of household require more that 35 liters of drinking water per day throughout the world where nearly 42% of respondents were using traditional method i.e.

boiling and straining for water purification. However, increasing cost and time consuming process for boiling increased the adoption of residential water purifiers which is likely to bring attractive business opportunities for residential water purifier market.

Leading market players are focusing on product innovation and differentiation, which is a key strategy to strengthen their market presence and attract more number of customers. For instance, in 2014, Eureka Forbes introduced Aquaguard On The Go, a low cost portable water purifier which can collect negatively charges impurities from water.

In 2016, a China based water Purifier Company; Bluewater group launched three new technologically advanced and affordable products. Meanwhile, implementation of advanced technology such as internet of things IoT in water purification system is also raising the adoption of smart water purifier for residential purpose.

Kent Superb a product of Kent RO Systems is the world’s first smart water purifier which is equipped with digital screen to display water quality and total dissolved solid TDS with patent mineral reverse osmosis RO technology. These new innovations in household water purifiers are propelling growth of global residential water purifier market.

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Market Segmentation

Global Residential Water Purifier is segmented on the following basis:

Based on Technology
• Reverse Osmosis RO Purifier
• Ultra-violet UV Purifier
• Multiple technology-based water purifier
Based on Filtration System
• Point-of-use POU systems
• Whole-house/point-of-entry POE systems
Based on Distribution Channel
• Online Channel
• Retail Stores

Based on Geography

o North America U.S. & Canada {Market Size USD Billion , Growth Analysis % and Product Sales Units }
o Latin America Brazil, Mexico & Rest of Latin America {Market Size USD Billion , Growth Analysis % and Adoption Rate % }
o Europe The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE {Market Size USD Billion , Growth Analysis % and Adoption Rate % }
o Asia-Pacific China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia {Market Size USD Billion , Growth Analysis % and Adoption Rate % }
o Middle East & Africa GCC, South Africa, North Africa, RoMEA {Market Size USD Billion , Growth Analysis % and Adoption Rate % }
o Rest of World {Market Size USD Billion , Growth Analysis % and Adoption Rate % }

Market Size and Forecast 2016-2024

Residential Water Purifier Market valued USD 11.2 billion in 2016 which includes household water purifiers that remove impurities from water and makes it suitable for the drinking purpose. The global residential water purifier market is anticipated to reach USD 33.4 billion by the end of 2024, growing at a CAGR of 14.6% over the forecast period.

Based on segmentation, RO purifier occupied 70% share of the market in 2016, due to its cost-effective and efficient water treatment process. Moreover, UV purifiers are expected to occupy over 35% share of market over the forecast period due to its high efficiency in killing bacteria present in contaminated water.

Retail stores of distribution channel segment valued USD 10.7 billion in 2016, as more than 70% of buyers feel more satisfied by purchasing goods from retail stores. However, ease of accessibility with variety of products and offers is projected to increase the online customers up to 43% by the end of 2024.

Geographically, Asia-Pacific region is the domination region for residential water purifier market followed by North America and Europe. Increasing personal disposable income, growing population and rising health awareness in developing countries such as India and China is expected to drive the market during the time period of 2016-2024.

Asia-Pacific residential water purifier market is projected to grow at a CAGR of almost 13.8% during the forecast period. North America residential water purifier market is expected to reach USD 9.35 billion by the end of 2024.

Rising incidents of waterborne diseases and government policies to improve drinking water quality is mounting the growth of Europe residential water purifier market. Europe residential water purifier market valued USD 2.69 billion in 2016 and expected to witness notable growth over the forecast period.

High rate of water pollution and increasing awareness about waterborne diseases boosted the demand of residential water purifier in Latin America and Middle East and Africa region. Latin America is expected to hold 4% share of residential water purifier market whereas Middle East & Africa residential water purifier market is projected to reach USD 2.67 billion by the end of 2024.

Market Drivers and Challenges

Introduction of innovative and new products is raising the popularity and adoption of residential water purifier through the world. Increasing penetration of low cost household purifier by prominent vendors such as Hindustan Unilever Limited HUL and Kent RO systems among consumers is increasing the demand of residential water purifier to a significant level.

Lack of awareness related with hygiene and sanitation in rural areas of developing and underdeveloped countries is causing health hazards due to unsafe water. This is limiting the adoption rate of residential water purifiers among rural population.

Also, packaged drinking water is gaining traction among consumers due to its cost effectiveness and availability. Thus growing demand of packaged drinking water is obstructing the growth of residential water purifier market.

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Key Market Players

• Whirlpool Corporation
• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis
• Eureka Forbes
• Hindustan Unilever Limited HUL
• LG Electronics
• Amway
• 3M
• Kent RO Systems
• Panasonic Corporation
• A.O.Smith

Market Synopsis

Market Segmentation

Global Residential Water Purifier is segmented as follows:
• By Technology Types Market Size, Demand Analysis and Growth Analysis
• By Filtration Systems Types Market Size, Demand Analysis and Growth Analysis
• By Distribution Channel Types Market Size, Demand Analysis and Growth Analysis

By Regions
• North America U.S., Canada {Market Size, Growth Analysis and Adoption Rate}
• Latin America Argentina, Mexico, Brazil and Rest of Latin America {Market Size, Growth Analysis and Adoption Rate}
• Europe Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe {Market Size, Growth Analysis and Adoption Rate}
• Asia-Pacific China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific {Market Size, Growth Analysis and Adoption Rate}
• Middle East and North Africa MENA {Market Size, Growth Analysis and Adoption Rate}
• Rest of World {Market Size, Growth Analysis and Adoption Rate}

Market Dynamics: Growth Drivers, Restraints and Opportunities
• Risk Factors
• Regional Variations
• Recent Trends and Developments

Key Market Players
• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks

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