The global uv water purifier market could record a robust CAGR of 9.55% during the forecast period (2018-2025), asserts Market Research Future (MRFR). MRFR adds that the market is expected to reach the valuation of USD 88,047.8 Million by 2025.
Market Boosters and Key Barriers
Research says that close to 80% of illnesses in developing nations are caused by poor water quality and sanitation conditions. Although the number of people that have access to pure drinking water has risen, discrepancy still exists. Scarcity of clean drinking water has paved the way for innovations in the water purifier industry.
In earlier times, the gamut of the market was concentrated in urban areas, but with intense efforts from various governments and manufacturers to enhance consumer awareness, the water purifier industry is now seeping into rural areas as well. However, the penetration rate is still low, with rural consumers refraining from spending substantial sums on water purifiers. This factor offers a critical entry point for new entrants who are striving to climb the global market ladder by developing strategically-priced products.
A large number of water-related issues have entered the league of alarming environmental and global concerns, due to which the world is in dire need of efficient water purifier systems. Sensing the opportunity that arises from this soaring demand, manufacturers are armed with various innovations in the water purifier industry that could elevate their position in the coming years.
The global uv water purifier market has been segmented according to product, devices and end-user.
Depending on the product, the uv water purifier market includes UV water purifier, RO water purifier, and activated carbon filters. The UV water purifier segment growth is expected to be significant, value-wise. Ultraviolet purifiers are in demand as they make use of ultraviolet lamps that generate shortwave radiation for killing viruses, illness-causing bacteria and other microorganisms present in water. The ultraviolet technology does not involve use of any chemicals like chlorine, and also does not leave any odor or taste in water. On top of this, it needs extremely less energy and can be easily maintained.
Device-wise, the uv water purifier market can be narrowed down to countertop, wall-mounted, faucet-mounted, under-the-sink (UTS) and tabletop. The countertop segment could register a phenomenal growth rate during the evaluation period. These types of units are generally placed on countertops close to the kitchen sink and are directly connected to a faucet which provides filtered water. Other than this, these are readily available, easy to install and cost-effective, which further augments its demand in the market.
The end-users in the uv water purifier market are residential and commercial. In 2017, the residential segment was leading the global market, followed by the commercial segment. However, the commercial segment is anticipated to grow at a considerable rate in the near future. Malls, offices, stores, supermarkets, community centers, and complexes are being constructed continuously all around the world. With the surge in the supermarket concept coupled with rising consumerism, there has been a boost in construction activities within the commercial space. Governments are also stressing on development of better infrastructure such as airport and railways. With the rise in commercial activities, the demand for water purifiers is expected to increase at a quick rate.
Geographical distribution of the global uv water purifier market is considered for Europe, North America, Asia Pacific (APAC), and the rest of the world (RoW).
In 2017, the APAC market was valued at USD 18,079.7 million, which helped establish its leading position among all the regions. APAC could reach the valuation of USD 37,081.4 million by 2025 and achieve a striking CAGR of 9.73% during the review period. The uv water purifier market in the region is performing quite well, owing to the mounting health awareness among consumers and the surge in economy. With the rise in government initiatives for pure water and burgeoning population accompanied by technological innovations, the demand for purified water in commercial and residential sector has risen significantly.
The North America market value is expected to be substantial in the years to come, given the increasing focus on optimal water use across all the sectors. The US Environmental Protection Agency (EPA) is continuously setting numerous standards and rules depending on the contaminant type for drinking water. The regional market also benefits from the rising use of water in commercial and household sector, expanding household disposable income and high GDP rate. As a result of all these factors, the North America uv water purifier market could be worth USD 20,979.6 Million by 2025 and could garner a healthy CAGR of 9.43% during the given timeframe.
The leading vendors in the worldwide uv water purifier market include Pentair Plc. (UK), Livpure Pvt. Ltd. (India), Hindustan Unilever Limited (HUL) (UK), Ningbo Lamo Drinking Water Equipment Co., Ltd. (China), EcoWater Systems LLC (US), Mitsubishi Chemical Corporation (Japan), 3M (US), Toray Industries, Inc. (Japan), Culligan (US), BWT AG (Austria), COWAY CO., LTD (South Korea), A. O. Smith India Water Products Pvt. Ltd. (US), Enmetec GmbH (Germany), Brita LP (US), KENT RO Systems Ltd. (India), Carrier Midea India (India), Shenzhen Angel Drinking Water Equipment Co., Ltd. (China), Koninklijke Philips N.V. (the Netherlands), Eureka Forbes (India), Panasonic Corporation (Japan), and others.
Browse Complete Report “uv water purifier market Research Report – Global Forecast till 2025” @ https://www.marketresearchfuture.com/reports/water-purifier-market-2178