China Water Purifier Market Witnessing a Boom: Forecast to Grow at a CAGR of 16.2% by 2027
Published | 03 November 2021
Over the last decade, China's demand for water purifiers has skyrocketed. During the next decade, both production and demand will surge. The water purifier market in China is growing strongly due to decreasing access to safe and clean drinking water caused by increasing industrialization, growing population, and rising water pollution levels…
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the China water purifier market was worth USD 8.1 billion in 2020. According to the study, the market is estimated to grow at a CAGR of 16.2%, earning revenue of around USD 23.0 billion by the end of 2027. China suffers from water contamination as a result of growing urbanization and industry, limiting access to safe drinking water. As a result, the country's water purifier market is flourishing. With significant growth potential, the companies are also launching a wide range of products at competitive prices and embedding advanced technologies like AI and IoT, which are anticipated to drive the market during the forecast period. However, alternative water purification methods, such as boiling, distillation, chlorination, etc., could restrain the growth of the water purifier market in China, especially among low and middle-income groups.
Emergence of Online Sales Channels Favoring the China Water Purifier Market
The growing popularity of e-commerce platforms, such as Alibaba, Taobao, Xiaohongshou, Amazon China, etc., is presenting lucrative growth opportunities to the China water purifier market. As smartphones and online payment applications become more prevalent, the demand for water purifiers via online channels is expected to grow at its fastest rate in the forecast period. Therefore, consumers would have access to a wide range of products from different brands, and they could also check user ratings before purchasing, which would benefit the market as a whole.
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Launch of AI and IoT-Enabled Water Purifiers is Projected to Boost the Market Growth
The leading water purifier companies in China like Xiaomi, Angel Drinking Water, A.O. Smith Water, 3M, etc., are embedding advanced technologies such as artificial intelligence (AI), Internet of Things (IoT), etc., to make the products more reliable and efficient. In addition to automating the purification process, AI and IoT-enabled water purifiers can provide advanced options to monitor PH levels and detail mineral content. Additionally, these water purifiers can be connected to smartphones. Additionally, these smart water purifiers can also send alerts when maintenance or replacement is required. Such technological advancements in water purifiers will likely boost the China water purifiers market during the forecast period.
China Water Purifier Market - By End-User
Based on end-users, the China water purifier market is segmented into residential, commercial, and industrial. The industrial segment accounts for the largest market share because of the flourishing manufacturing sector in China. One of the biggest sources of water pollution in the country comes from the industrial sector. Regulatory requirements regarding the treatment and purification of water before it is discharged in water bodies increase the demand for water purifiers in the industrial sector. However, the residential segment is projected to witness the highest CAGR during the forecast period because of the increasing prevalence of water-borne diseases and raising health awareness regarding safe drinking water.
Impact of COVID-19 on China Water Purifier Market
The China water purifier market was significantly halted by the sudden outbreak of the COVID-19 pandemic. Since the virus emerged from the country, China was among the worst affected regions in the world. The Chinese government imposed a strict lockdown to curb the virus spread and conserve resources. As a result, the water purifier market was negatively affected in terms of demand and supply. The market, however, is expected to thrive in the forecast period due to the growing health awareness and the emergence of solid online supply chains in China.
China Water Purifier Market - Competitive Landscape
The leading players in the China water purifier market are Midea, Haier, SUPOR, A.O. Smith, GREE, TRULIVA, Royalstar, Angel, Ecowater, Sunrain, and other prominent players.
The Chinese water purifier market is highly fragmented, with several global and regional players. Regional players have a deeper product penetration in the Chinese market. Market growth has been spurred by the companies launching a wide range of products with advanced features. Also prominent in this market is competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the China water purifier market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the China water purifier market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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