Top Impacting Factors
- As clean drinking water is a basic requirement for everyone, there is a demand for water purifiers. The market has been stimulated by the rise in water-borne illnesses in agricultural countries. It is also more appealing than other types of water purifiers since it removes a wide variety of pollutants, including microbes, heavy metals, pesticides, and broken down salts, and interest in water purifiers is soaring as a result.
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- The growth of the water purifier market is aided by the expansion of disposable income in emerging nations. Increased income levels increase users'/customers' purchasing power, resulting in a better quality of life. This has increased interest in water filtration systems in these sectors, which has helped to boost the water purifier market. The selection of cleaning practices has been motivated by an increase in concerns about well-being and wealth among the global population.
Water filters, sometimes called water purifiers, are systems or pieces of equipment that purify drinking water. Water purifiers use a variety of methods, including activated carbon, ultraviolet light, and reverse osmosis (RO). Toxins, bacteria, chemicals, toxic gases, and suspended particles are all removed from water using water purifiers. They lower the concentration of particle matter in water and lessen the risk of contracting waterborne illnesses, making the water suitable for use in residential, commercial, and industrial settings. Aside from that, growing consumer awareness about the need of consuming safe water is having a beneficial impact on water purifier sales throughout the world.
Market Trends
The emergence of Smart Purifiers is boosting the growth of the market
A new trend in the market for high technology water purifiers has been noticed. These smart purifiers are simple to use and include a multi-stage purifying system. These purifiers keep track of how much water is used and change the settings accordingly. Furthermore, smart purifiers may be set up to send users warnings or messages after their maintenance cycle. Consumers' spending capacity grows as their quality of living rises, especially in developing nations. As a result, buyers want a more attractive feature list, which provides development prospects for market players. Delfo, the rapid emergence of these smart technology-based purifiers is expected to boost water purifier demand during the forecast.
Declining Water Quality is Driving the growth of the Global Water Filter Market
The world's greatest water-related concern is the pollution of surface and groundwater resources from agricultural, industrial, and residential sources. Urbanization has long been recognized as having a detrimental influence on water quality. Given that freshwater resources meet nearly all drinking and agricultural water demands, the decreasing water quality index of freshwater resources is a major source of concern. Chemical pollution, unlike biological pollution, has no direct effect on human health; nonetheless, it causes accumulation in the body and subsequent harmful effects. As a result, consumer preference is turning toward water filters in the house, assuring the consumption of water with a high water quality index. This factor is helping the global water filter market's expansion.
Because there were no requirements from the industrial, commercial, or residential sectors as a result of the COVID-19 epidemic, the demand for a water filter has diminished. Due to a temporary halt in activities in the industrial sector, the manufacturing of water filters has been limited.
COVID-19 Impact Analysis
- There was a negative effect on the water filter market due to the COVID-19 pandemic. During the lockdown, demand for water filters fell owing to a lack of demand from the industrial, commercial, and residential sectors, since all operations were halted.
- The cost of raw materials has grown as a result of the limited availability of raw resources, forcing manufacturers to raise the price of the finished product.
- Disruption in the distribution channel was an important cause as the final product couldn't reach the stores; the delivery of finished products to the dedicated stores was not possible. Consumers had no option to order from the specialized stores, whereas online purchases couldn't support the installation service.
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Key Benefits of the Report
- This study presents the analytical depiction of the water filter industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the water filter market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the water filter market.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed water filter market analysis on the basis of competitive intensity and how the competition will take shape in coming years
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