According to Goldstein Research, “Growing health awareness is increasing the need of safe drinkable water which is significantly boosting the residential water purifier market”. Water is an essential part for living but due to increasing pollution water is getting contaminated and unsafe for drinking and other household purpose. Usage of water filters in household reduces the risk of diarrheal disease by 50%, and it also reduces E.coli contamination in their water by 97%. This is the key factor which is driving the adoption rate of residential water purifier throughout the world.
Global residential water purifier market is segmented on the basis of technology, filtration system and distribution channel. Filtration system is further segmented into Point-of-use (POU) systems and Whole-house/point-of-entry (POE) systems. Safe drinking water is the major concern and is the key factor which is propelling the demand for filtration systems for household purpose.
The global point-of-use (POU) filtration systems market is expected to reach USD 15.03 billion by the end of 2024. Whole-house/point-of-entry (POE) systems market is expected to occupy 55.0% revenue share of total residential water purifier by 2024.
Geographically, Asia-Pacific residential water purifier market dominated the global market in 2015 and is expected to maintain its dominance during the forecast period of 2016-2024. Growing awareness about sanitation and hygiene in emerging economies such as China and India is expected to boost the demand for residential water purifier in the region.
Low Cost Water Filter: Innovation
Cost effective water purifiers with advanced technology and design is a major innovation in water treatment technology. In 2009, Tata Chemicals and Tata Data Research Development and Design Center, launched their own designed product named Tata Swach. Tata Swach is a water purifier which uses nano silver and rice husk ash to kill undesirable impurities from water and make it safe to drink. This water purifier is able to purify 3-4 litres of water every hour and it is affordable by low income group as well.
“Global Residential Water Purifier Market Outlook 2024” contains detailed overview of the global residential water purifier market in terms of market segmentation by component type and by application type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.
Global residential water purifier market report also includes provides competitive outlook of some of the major players which includes profiling of companies Medtronic Inc., Siemens Healthcare, GE Healthcare, Innovative Biosensors Inc., Bio-Rad Laboratories Inc.etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global residential water purifier market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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