GLOBAL WATER PURIFIER MARKET FORECAST 2019-2027
• The global market for water purifier is projected to grow, registering a CAGR of 8.58% during the forecasted period, 2019-2027. • The prevalence of water-borne diseases and the resultant demand for water purification, along with the rising living standards, are the important drivers of market growth.
• The vast usage of water purifiers among households makes the residential segment a major end user of water purifiers. • They are enabled with smart technology, thereby aiding in its quality growth. • One of the primary sales channels in present times is the Internet. • This is primarily due to the widespread penetration of the internet across the world. • With innovations in technology making its way into the consumer lives, the portable water purifier has become the latest fad among the consumers. • This is because of the sleek design and convenience, along with affordable rates. These type of purifiers are on-demand across the regions of Asia Pacific, Africa, and the Middle East, and finds vast utilization in the regions of Europe and North America.
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The global market for water purifier is projected to grow, registering a CAGR of 8.58% during the forecasted period, 2019-2027. Request a free sample report now!!
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The North America water purifier market is set to record growth at a CAGR of 6.63% during the forecasted period, 2019-2027. The innovation in technologies and innovative market promotion strategies are the primary factors influencing the market growth in the region. The market region of North America with regard to water purifier, is segmented into the regions of the United States and Canada for further analysis.
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The Europe Water Purifier market is expected to grow with a CAGR of 7.02% during the forecasted period, 2019-2027. The conducive nature of the market region, coupled with rising demands for portable water purifiers from developed countries, are the factors driving the growth of the market in the region. The European region is considered the second-largest revenue generator in the global market for water purifier.
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The Asia Pacific Water Purifier market is predicted to be the fastest-market, recording a CAGR of 9.28% during the forecasted period, 2019-2027. The presence of emerging economies, rising industrialization, and declining water quality, are the major factors set to augment market growth. he large presence of big industry names, their innovative products, and market expansion strategies is beneficial for the market region.
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The lucrative opportunities in the market have resulted in the emergence of various well-known market players. Some of them in the list are Lg Electronics, Inc., Kent Ro System Ltd., Tata Chemicals Ltd., A. O. Smith Corporation, Best Water Technology, Eureka Forbes Limited, Amway, etc.