According to BlueWeaves
Consulting, Global Water Filter Market size is expected to reach USD 24330.30
Million by 2026 from USD 18306.49 Million in 2019 at a CAGR of 7.10% over the
forecast period 2020-2026. The rising public awareness about water-borne diseases
and the growing importance of healthy lifestyle drive this market. Besides, the
increased deterioration in water quality and emphasis on water conservation
push the demand for water & wastewater treatment & filtration, inducing
market growth. The technology has become a focal point in this market with the
latest addition of purifiers providing real-time notifications. When it comes
to water purifiers, consumers are keen to improve their smart home
infrastructure by using connected water filters which offer water quality
monitoring and regular water consumption alerts. Manufacturers are gradually
integrating the water- filtration technology to smart home networks, sensing
the reach of expanding advanced filter technology.
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The Global Water Filter
Market is segmented based on Product Type, End-user and Sales Channel.
Based on Product Type,
the water filters are divided into Reverse Osmosis (RO), Ultraviolet, Gravity,
Sediment, Water Softener and Others. Among these, Reverse Osmosis water filters
are widely adopted across the globe due to their performance quality, low
energy consumption and frequent technological advancement in water purifiers.
Its demand is likely to increase due to its efficiency and cost-effectiveness
during the forthcoming period.
In terms of End-user, the
Global Water Filter Market is segmented into the Residential, Commercial and
Industrial sector. With continuing urbanization and industrialization around
the globe, the demand for water treatment is expected to increase in different
industries as well as commercial activities such as restaurants, cafeterias,
commercial complexes, tea shops, fast food outlets, etc., at a significant rate
during the forecast period. Besides, increasing government regulations on
effluent discharge, developments in water purification technologies aimed at
improving the quality of drinking water, and rising water treatment &
recycling levels are also expected to improve the demand for commercial water
filters amid segmentation of the industry.
Increasing buying power
due to the rise in disposable income on the part of consumers contributes to
better living conditions, which further leads to more demand for purifiers.
Furthermore, demand for water purification systems in developing countries is fueled
by the increased requirement of safe water by municipal utility sector and an
overall rise in the number of water recycling treatments. Many of the
developing nations, such as Brazil, China and India, have witnessed a rise in
disposable income due to economic development, skills enhancement and increased
jobs in service-centric industries. It has raised the demand for water
purification systems, leading to the growth and better prospects of the
market.
In respect of Sales
Channel, the Water Filter market is segmented into Distributor, Direct, Retail,
Online and Wholesale sales channels. Throughout the forecast period, the online
supplier channel for sales is expected to expand at a substantial scale due to
rapid urbanization and rising internet penetration across the world. Customers
' purchasing preferences are shifting as they research online extensively and
compare a range of filters in terms of brand-specific features, advantages and
costs. Also, deployment of the online sales channel allows targeting customers
with attractive offers, coupons and deals to increase the sales, expanding its
reach and growth over other distribution channels during the forthcoming period.
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Based on the region, the
global water filter market segmented into North America, Europe, Asia-Pacific,
South America and Rest of the World. Among these, Asia-Pacific dominates the
global market and is expected to hold the major market share due to high demand
from all end-user segments during the forthcoming period. Market growth in the
Asia Pacific is driven primarily by the need for improving the decreasing
quality of surface water in coastal & other areas and water conservation as
well as industrial &economic development and the rising standard of living
in the most populated developing countries of Asia & other economies.
“The Leading players” in
the Water Filter Market include 3M, Honeywell, Pentair Inc., BRITA, AO. Smith
Corporation, Evoqua Water Technologies LLC, BSH homes, Kinetico Inc., Best
Water Technology, GE Appliances, Eaton Corporation and other prominent players.
The renowned players in the market for water purifiers have concentrated on
introducing well-equipped items with advanced water filtering
technologies.
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