water purification market analysis Overview, Manufacturing Cost Structure Analysis, Growth Opportunities By 2019 - 2027

 

Water Purifier Market: Scarcity of Potable Water and Geographical Penetration to Foster Growth

Research states that, nearly 80% of illnesses in developing countries are because of poor quality water and sanitation conditions. Although there has been a rise in the number of people that have gained access to pure drinking water, inequalities still persist. This scarcity of potable drinking water has directed the way for innovations in the water purifier industry.

The gamut of the market used to be 'urban-centric'; however, with continual efforts from various governments and manufacturers to increase consumer awareness, the water purifier industry is gradually seeping into rural markets. However, penetration is still low, as rural consumers refrain from spending huge sums on water purifiers. This factor may shrink the market’s growth, but also provides a vital entry point for newcomers who may claw up the global market ladder by launching strategically-priced products.

As water-related issues are gradually entering the league of grave environmental and global concerns, the future demands the implementation of efficient water purifier systems. Sensing this demand and gauging the innovations spawned in the water purifier industry, Transparency Market Research conducted comprehensive research that brings to the fore compelling insights about the evolution and structure of the water purifier market.

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Evolutionary Timeline of the Water Purifier Market

Water filtration technology dates back to as far as 500 B.C. when cloth was used to enhance water quality. Technology further progressed with the use of carbon filters and the advent of water purification technologies that render seawater drinkable. The water industry is gradually moving away from the conventional chlorination treatment approach and adopting new technologies such as membrane filtration, ultraviolet irradiation, and others.

Consumer preference is shifting towards simple water purification techniques and devices with the development of technologies that offer utmost ease of use. Moreover, in underdeveloped countries, consumers prefer water purification systems available at cheap rates. Understanding consumer behavior and the varied water purification needs in different geographical regions is the key to sustaining position in the water purifier market. According to TMR’s study, the water purifier market will rise from its initial valuation of ~ US$ 67 Bn in 2019 to reach the mark of ~ US$ 128 Bn by the end of 2027.

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Compelling Trends Reforming the Market

Increasing Adoption of Smart Water Purifiers

We live in a fast-paced world that demands the use of devices or systems offering real-time alerts. When it comes to water purifiers, consumers are keen on enhancing their smart home infrastructure with the use of connected water filters that offer water-quality monitoring and alerts on daily water consumption. It won’t be too long since this technology proliferates from residential to municipal settings. Manufacturers are increasingly providing data to app platforms in water purification technology, sensing the scope of expansion of this technology.

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Compact Products are Here to Stay

With the rising crunch for land and soaring property prices, people are forced to live in smaller spaces. Rural-urban migration has further added on to the prevailing issue of land crunch. Consumers are looking for compact products that help them save space and de-clutter at the same time. Banking on this trend, manufacturers are vying to manufacture slimmer and compact products to help consumers in their fight for space. For instance, Havells Water Purifiers has developed Havells Max, a compact water purifier with flexible mounting.

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