India Water Purifiers Market to Witness Stellar Revenue Growth: Projected to Reach USD 1937.5 million by 2027
Published | 07 September 2021
The India Water Purifiers Market is showing prolific growth. As local awareness has grown and prices have become more affordable, water purifiers have penetrated lower-income groups and rural households across India..
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the India water purifiers market was worth USD 754.2 million in the year 2020. The market is also estimated to grow at a CAGR of 14.3%, earning revenue of around USD 1937.5 million by the end of 2027. The factors triggering the growth of the India water purifiers market are the rising concern and consciousness towards water-borne diseases, increasing water pollution, rising disposable income of consumers, as well as the increasing health awareness among people.
The Rising Prevalence of Water-Borne Infections Likely to Boost the India Water Purifiers Market in the Forecast Period
The disposal of industrial waste in rivers has increased water-borne diseases like diarrhea, cholera, and jaundice. Over thousands of people die in India annually. According to the recent report published by the World Bank, over 75% of the infectious diseases in India are water-related. As a result of social and environmental concerns, enterprises are growing to reduce wastewater and treat it before discharging it. As a result, demand for water purifiers is expected to increase over the forecast period. Additionally, rising health concerns and consumer awareness of the necessity of clean water are also driving India’s water purifiers market.
Expanding Residential Spaces Fuel the India Water Purifiers Market Growth
The residential segment is estimated to witness the highest growth rate in value during the forecast period due to the construction of residential spaces and the development of personal houses and private property. The residential segment is not only the largest but also the fastest-growing segment. In many developing countries, households require liters and liters of drinking water daily, and they purify their water using traditional methods such as boiling and filtering. However, as the cost of boiling has increased and the process has become more time-consuming, the adoption of domestic water purifiers has increased, which is projected to create lucrative business opportunities for the residential water purifier market.
India Water Purifiers Market - Regional Insights
Geographically, the Indian water purifiers market is segmented into North India, South India, East India, and West India. The Western part of India holds the largest share in the India water purifiers market and is likely to maintain its dominance even during the forecast period. However, the Northern region is also coming up as a potential region for the water purifiers market and is estimated to witness a high CAGR during the forecast period. The need for water purifiers is expected to grow significantly in the Northern region due to increased water pollution and a lack of government attention to implementing any actions. The country’s Southern part is also rising in the market because of severe water scarcity problems in many states of the region.
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Impact of Covid-19 on the India Water Purifiers Market
The Indian water purifiers market has grown dramatically since the outbreak of the Covid-19 virus. The COVID-19 outbreak has raised public awareness regarding infectious and communicable diseases, and people are becoming more mindful of what they eat and drink. As a result, the demand for water purifiers in the Indian market has increased as more people become aware of the benefits of drinking clean water and the good influence it has on maintaining our health. However, the market had to go through some rough patches due to lockdown as all the operations had to pause due to strict social distancing norms. Nonetheless, now that the government has relaxed the lockdown restrictions, the India water purifier business is projected to grow in the post-COVID-19 era.
Companies such as Hindustan Unilever Ltd, Kent RO System Ltd., Ion Exchange, Tata Chemicals Ltd., Hi-Tech RO Systems, Godrej Industries Ltd., Panasonic Corporation, Livpure Private Ltd., Essel Nasaka, and Whirlpool India Ltd. are the key players in India water purifiers market. Moreover, Eureka Forbes and Kent RO are the market leaders in this segment, together accounting for about 50% market share over the projected period. The companies are focusing on innovations in their products, along with offering affordable water purifiers to cover the large share in the market and stay ahead in the competition.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India water purifiers market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the India water purifiers 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.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solutions. BWC has built its reputation from the scratches by delivering quality inputs and nourishing long-lasting relationships with its clients. We are a promising digital MI solutions company providing agile assistance to make your business endeavors successful.
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