Rising Preference of Consumers for Using Clean Water to Offer Potential Opportunities for Players in India Water Purifier Market
The water purification market in India is expected to witness high growth in the next few years, owing to the growing awareness regarding several water-borne diseases. Technological advancements and innovations in the water purification technology have contributed extensively towards the development of the market, thus driving the demand for water purifiers across India. Furthermore, the benefits of consuming clean and healthy water are likely to accelerate the growth of the water purifier market in India.
According to a research study by Transparency Market Research (TMR), in 2015, the India water purifier market was worth US$1.1 bn and is predicted to reach a value of US$4.1 bn by the end of 2024. The market is estimated to register a progressive 15.40% CAGR between 2016 and 2024. In this blog, several questions related to the development and growth of the water purifier market in India have been discussed. Some of them have been addressed below:
Which factors are estimated to accelerate the growth of the global water purifier market in India?
The growing awareness among consumers regarding the benefits of consuming healthy and clean water is an important factor anticipated to encourage the growth of the market in the near future. In addition, the increasing number of players entering the market with the growing focus on new product development are expected to supplement the growth of the market. Several government initiatives to educate people and encouraging them regarding the use of water purifiers are some of the other factors predicted to accelerate the growth of the water purifiers market in India. Furthermore, the rising preference of several industries to make use of clean water for diverse manufacturing processes is anticipated to fuel the growth of the market in the coming few years.
Which segment is expected to lead the India water purifier market in terms of technology?
The India water purifier market has been categorized on the basis of technology into RO purifier, gravity purifier, UV purifier, water softener, and sediment purifier. Among these, the RO purifier technology segment is expected to lead the global water purifier market in India and account for a key share in the coming years. The affordable cost of RO purifiers and the easy availability are some of the key factors supplementing the growth of this segment. On the other hand, the gravity purifier segment is estimated to witness significant growth in the next few years, as the rural population is estimated to prefer the use of this technology in the coming years.
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Which strategies adopted by the key players are likely to encourage growth?
The India market for water purifier is consolidated in nature with a few players holding a massive share of the overall market. However, in the next few years, several new players are estimated to enter the market with a view to create a brand name and expand their business horizon across the country. Kent Ro Systems and Eureka Forbes are the leading players operating in the India water purifiers market and are expected to collectively lead the overall market in the near future. The rising focus of these players on introducing affordable products, aftermarket services, and innovations is predicted to fuel the growth of the market.