Water Purification System Market
The global Water Purification System market size is forecast to reach $ $45.73 billion by 2026, growing at a CAGR of 7.8% from 2021 to 2026. The system of Water purification is the process to eliminate water impurities, such as biological contaminants, suspended solids, undesirable chemicals & gas from the specific source of water. The Water Purification System Industry is growing exponentially due to the growth in the food & beverages, oil & gas, chemicals & petrochemicals, pharmaceuticals industries, which lead to the unregulated waste discharge into various water sources. With the rising awareness across the globe towards health concerns, advancement of the waterborne diseases, along with the lack of fresh water are expected to aid the growth of the Water Purification System Market. Furthermore, the introduction of several kinds of desalination technology, including Reverse osmosis (RO) and Nanofiltration (NF) have been deployed as the possible alternative water sources for aiming safe and readily available water for public health. Therefore, the increasing technological advancements for water treatment, surging demand for clean drinking water worldwide, and various introductions of clean water regulations are some of the factors that are estimated to drive the Water Purification System Market during the forecast period.
Report Coverage
The report: “Water Purification System Market Forecast (2021-2026)”, by Industry ARC covers an in-depth analysis of the following segments of the Water Purification System Market.
By Media Type: Single & Dual Phase, Multimedia, Cartridge
By Product: Point-of-use Filters (Under the Counter Filters, Counter Top Filters, Pitcher Filters, Faucet-mounted Filters, and Others) and Point-of-Entry Filters
By Technology: RO Purification Filters, Gravity-based Purification Filters, UV Purification Filters and others
By Design: Portable, and Non-portable
By Industry Vertical: Household, Oil & Gas, Energy, Chemicals & Petrochemicals, Food & Beverages, Pharmaceutical and Others
By Geography - North America (U.S, Canada, Mexico), Europe (U.K, Germany, France, Italy, Spain, Others), APAC (China, Japan, India, South Korea, Australia, Others), South America (Brazil, Argentina, Others), RoW (Middle East, Africa)
Key Takeaways
- Asia Pacific is analyzed to dominate the Water Purification System Market with a share of 36%, owing to the growing investments to establish water & wastewater treatment & filtration, along with the growing demand of standard water usage by various industry verticals,
- The Residential sector is estimated to hold the major share of 41% in 2020, owing to the growing urbanization, rising introduction of smart consumer electronics, along with significant demand of safer consumption water across households.
- In order to procure safe drinking water, it is pertinent to eradicate impurities, chlorine by-products, and other dangerous viruses, thereby leading the market growth of the Water Purification System Market.
Water Purification System Market Segment Analysis, By Region 2020 (%)
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Water Purification System Market Segment Analysis – By Product
By Product, the Water Purification System Market is segmented into Point-of-use Filters (Under the Counter Filters, Counter Top Filters, Pitcher Filters, Faucet-mounted Filters, and Others) and Point-of-Entry Filters. The Point-of-use Filters is estimated to hold the major share of 54% in 2020, owing to the potential demand of standard water quality for drinking and other significant household usage, massive rise of awareness regarding water therapy advantages and other innovative Purification solutions that promise clean drinking water. In April 2021, Elkay, the renowned Appliance manufacturer launched the touchless counter-top water dispenser, and expanded its Smartwell water dispenser range in the US. The touch-free model is designed to enable users to dispense drinks and develop various custom beverages with an added mobile app that is equipped with nutritional information. Thus, the rapidly evolving market of safe and thoughtful products, related to water purification and other variable customizable design options are expected to accelerate the growth of the Water Purification System Market.
Water Purification System Market Segment Analysis – By Industry Vertical
By Industry Vertical, Water Purification System Market is segmented into Residential, Oil & Gas, Energy, Chemicals & Petrochemicals, Food & Beverages, Pharmaceutical and Others. The Residential sector is estimated to hold the major share of 41% in 2020, owing to the growing urbanization, rising introduction of smart consumer electronics, along with significant demand of safer consumption water across households. In January 2021, Samsung launched BESPOKE water purifier, its first-ever AI-powered water purifier in the the Consumer Electronics Show (CES) 2021. The Samsung's BESPOKE water purifier is a modular design with customized options, such as a single faucet and multiple faucets. According to the United States Environmental Protection Agency, it is the primary aim to establish the Safe Drinking Water Act to develop protective drinking water standards. Therefore, the emergence of several drinking water regulations, and launches of varied Water Purification solutions are some of the factors that are estimated to boost the growth of the Water Purification System Market.
Water Purification System Market Segment Analysis – By Geography
By Geography, Asia Pacific is analyzed to dominate the Water Purification System Market with a share of 36%, and is also analyzed to have a significant growth during 2021-2026. The growing investments to establish water & wastewater treatment & filtration, along with the growing demand of standard water usage by various industry verticals, such as chemicals & petrochemicals, oil & gas, food & beverages, pharmaceuticals, and more. In a number of industrialized nations, along with some developing countries of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) region, governments are investing more attention to enhance water quality in order to meet drinking-water standards. In December 2019, Kent launched a new purifier using ‘zero water wastage technology’. The technology is designed to recycle the residue water and the company also claimed that the upgraded version of the Kent RO purifier is featured with added capabilities to produce back the 10 storey building rejected water. Therefore, the various launches of latest water purification technologies, a significant rise of the clean drinking water, and other factors accelerate the growth of the Water Purification System Market in the region.
Water Purification System Market Drivers
Significant advancement of Water Purification technology encourages the market growth
In order to procure safe drinking water, it is pertinent to eradicate impurities, chlorine by-products, and other dangerous viruses, thereby leading the market growth of the Water Purification System Market. Moreover, the surging demand to recycle water to generate clean water for various uses is a challenging factor, and thus, various acquisition and business development take place to solve this crisis worldwide. In January 2020, DuPont acquired four water purification companies, known as Memcor, Desalitech, OxyMem Limited and inge GmbH. As the quality of water is deteriorating rapidly, the company has invested to administer water purification and separation technologies, such as reverse osmosis, ultrafiltration, and ion exchange resins. According to the World Bank, there are 85% of water requirements across rural India, and the drinking water requirements are majorly solved with the support of groundwater sources, which are harmful and not recommended for consumption. In March 2021, a start up in India introduced a water purifier that can clean 1 lakh liters of water, with minimal cost. Therefore, the impending health crisis due to lack of poor water quality across the globe and lack of clean water availability caused various economic repercussions for the government have influenced the growth of the Water Purification System Market.
Introduction of Government regulations and Environmental Protection Act to promote the growth of the market
There are various laws and regulations across the world developed to strengthen clean water and supply of quality consumable water, such as EPA enforces federal clean water and safe drinking water laws, Prevention and Control of Pollution ACT, Water Management Act 2000 and the Water Act 1912, Drinking Water Directive, resulting to boost the market growth. As of December 2020, U.S. Steel, the country’s second-largest steel producer fined billions of dollars, and roughly paid $3 million for spilling waste, including discharge iron into Lake Michigan since 2013. The company is still facing $1.2 million in fines and cleanup costs as they violated Environmental Protection Agency, and other multiple Clean Water Act, and contaminated the sixth-largest freshwater lake in the world, which adversely affected 6.6 million people. Thus, the growing compliance and other robust limitations set by the government-approved permits are conforming to the growth of the Water Purification System Market in the forthcoming years.
Water Purification System Market Challenges
High maintenance cost that hampers the growth of the market
The process of purification requires various integration of technologies and related standards to mandate. Moreover, the purification filters are developed with enhanced piping systems that require frequent cleaning and maintenance to regulate the constant purification process. However, the entire system is expensive and also, the guidelines for every system are much varied due to the developed design, which creates a lot of hurdles to manage the overall maintenance. Therefore, the expensive maintenance cost and lack of proper funding are set to hamper the growth of the Water Purification System Market.
Water Purification System Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Water Purification System Market. The Water Purification System top 10 companies include:
- Eaton Corporation
- Suez Water Technologies & Solutions
- Veolia
- Dow Water & Process Solutions
- Eureka Forbes Limited
- Kent RO System Ltd.
- LG Electronics
- Panasonic Corporation
- EvoQua Water Technologies
- Grundfos
- Brita
Acquisitions/Technology Launches/Partnerships
- In September 2021, Grundfos acquired US water technology company Mechanical Equipment Company Inc (MECO). The acquisition is developed to offer innovation and sustainability as well as a genuine care for customers.
- In February 2019, Brita, the best of German Engineering Water Filters and Water Purifiers expanded their operation in India with the launch of the latest purifier My Pure Max.
