India Water Purifier Market: Snapshot
The growing awareness about the water-borne diseases has augmented the demand for water purifiers across India. The uptake of water purifying technology is also expected to increase as growing number of consumers are expected to realize the benefits of consuming cleaner water. Owing to these reasons, the India water purifier market is expected to reach a valuation of US$4.1 bn by the end of 2024 as against US$1.1 bn in 2015. During the forecast years of 2016 and 2024, the overall market is expected to register a CAGR of 15.4%.
Government Initiatives Push Consumers to Install Water Purifiers
India water purifier market is being fuelled by increasing awareness about the benefits of pure water, rampant urbanization, booming industrialization, and government initiatives through various policies and campaign about advantages of consuming clean water. Despite the strong market drivers, the challenge of educating the masses about the efficiency of these purifying technologies across rural India is expected to restrain the market. A huge chunk of the population still relies on boiling water to ensure purification. However, the rising adoption of water purifier in urban areas of India is anticipated to open up lucrative opportunities in the market.
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India water purifier market is being fuelled by increasing awareness about the benefits of pure water, rampant urbanization, booming industrialization, and government initiatives through various policies and campaign about advantages of consuming clean water. Despite the strong market drivers, the challenge of educating the masses about the efficiency of these purifying technologies across rural India is expected to restrain the market. A huge chunk of the population still relies on boiling water to ensure purification. However, the rising adoption of water purifier in urban areas of India is anticipated to open up lucrative opportunities in the market.
With the. growing number of cases, detection and treatment of the COVID-19 virus took a greater precedence over other diseases. Regulatory and healthcare authorities advised and urged the nation to stay indoors and maintain high levels of hygiene. This prompted the end users to install new water purifiers or upgrade the new ones. Naturally, the growing demand helped drive the market development in the peak months of the COVID-19. The situation is about to resume back to the normal as there are hopes of vaccine. Gradual opening up of the economy in India is projected help the current growth of the India water purifier market. The companies in the India water purifier market are projected to benefit from the gradual economic recovery and the end user industry demand. Moreover, with gradual ramping up of production, the growth of the market in the coming months is expected to be on the positive side
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Household Consumers to Show Interest in Water Purifiers during Forecast Period
The three end users of water purifier technologies are the household, industrial, and commercial sector. In 2015, the household segment accounted for a share of 55% of the overall end-user segment. This segment is expected to retain its dominance in the coming years as the demand for affordable and clean water in India household continues to be on the rise.
The key players operating in the India water purifier market are Whirlpool India Ltd. Hi-Tech RO Systems, Essel Nasaka, Eureka Forbes, Kent Ro system Ltd., Godrej Industries Ltd., Panasonic India Pvt. Ltd., Brita GmbH and Kaz USA, Inc. The market is quite consolidated due to the presence few leading players. However, in the coming years, the competition is expected to get stiffer due to the introduction of several small and local players.
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India Water Purifier Market: Covid 19 Impact
The outbreak of the COVID-19 pandemic has had a profound effect on the overall growth of the India water purifier market. Initially, the market was hit by the nationwide curfew and strict lockdowns. With restriction on movement and other activities, the demand for the product went down considerably. However, with new information coming out from the regulatory authorities and sudden spike in demand for improved hygiene across the nation has helped the development of water purifier market in India.
