USD 12.45 billion
Report ID:
SQMIG45L2011 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
114
|Figures:
77
Water Filter Market size was valued at USD 14.28 Billion in 2023 and is poised to grow from USD 15.28 Billion in 2024 to USD 26.25 Billion by 2032, growing at a CAGR of 7.01% during the forecast period (2025-2032).
Rising concerns regarding water contamination in developing countries like India, China, and the Philippines, driven by poor hygiene, inadequate sanitation, and unsafe drinking water sources, are leading to the spread of harmful diseases among consumers.
Contaminants present in rivers and water sources increase Total Dissolved Solids (TDS), Biological Oxygen Demand (BOD), Total Suspended Solids (TSS), and Chemical Oxygen Demand (COD), rendering the water unsuitable for drinking. This has resulted in an increasing demand for water filters globally, particularly for purifying drinking water.
Technological advancements such as nanotechnology, photocatalytic water purification technology, acoustic nanotube technology, aquaporin inside technology, and Automatic Variable Filtration (AVF) have made water filtration more effective and affordable.
These advancements ensure the retention of essential minerals like fluoride, magnesium, zinc, and calcium even after filtration, supporting the demand for water filters. However, the presence of domestic players offering cheaper alternatives in the market can hinder revenue growth.
These players manufacture, assemble, and sell water purifiers at lower costs in the domestic market without proper certification or adherence to quality norms. This results in the use of low-quality products and filters that do not meet required water quality standards.
This situation could hamper the sales of water filters as consumers may not achieve the desired water quality and may question the efficacy of the products.
US Water Filter Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 12.45 billion
Largest Segment
municipal
Fastest Growth
municipal
Growth Rate
7.1% CAGR
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The water filter market can be segmented based on filters (single and dual media, multi-media filtration), technology (gravity purifiers, RO [Reverse Osmosis] purifiers), end-use verticals (municipal, food and beverages), and region. Single and dual media filters, along with multi-media filtration, are widely used filtration methods. Gravity purifiers and RO purifiers represent different technologies employed in water filtration systems. The market's end-use verticals include municipal applications and the food and beverage industry. Geographically, the market is analyzed across various regions. The insights gained from these segments provide a comprehensive understanding of the water filter market, its diverse filtration methods, technologies, end-use applications, and regional dynamics .
Water Filter Market Analysis By Filters
The single & dual media filter segment accounted for the largest revenue share in 2022, as they are commonly used for removing suspended solids, iron, and turbidity from contaminated water. Aquammodate, a Swedish start-up, introduced a water filtration system inspired by aquaporin and diatom proteins, emphasizing the importance of using a single filter for effective water purification.
The multi-media filtration segment is expected to witness steady revenue growth during the forecast period. Multi-media filtration is utilized to reduce turbidity in water from various sources. LG launched LG PuriCare with multi-media RO filtration, providing protection against harmful viruses, metals, bacteria, and odors. The activated carbon filtration segment is projected to register moderate revenue growth. De Nora unveiled a standard designed system with Granular Activated Carbon (GAC) to prevent per- and Poly-Fluoroalkyl Substances (PFAS) in water sources, which is expected to drive the growth of this segment.
Water Filter Market Analysis By Technology
The RO purifiers segment accounted for the largest revenue share in 2022. Waterdrop launched advanced RO system-based water purifiers with features such as smart interaction, advanced filtration technology, ultra-large capacity, and UV sterilization, which is expected to drive the demand for RO purifiers.
The gravity purifiers segment is projected to witness steady revenue growth during the forecast period. Enfost's collaboration with consumer appliance company Brooke to develop an entry-level gravity purifier in the Indian water purifier market is expected to drive demand for gravity purifiers.
The UV purifiers segment is anticipated to register moderate revenue growth. Increasing consumer awareness regarding the importance of water purification is expected to drive the growth of the UV purifiers segment.
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In 2021, North America dominated the water filters market, driven by the widespread use of water filters for commercial and industrial purposes. The region has witnessed advancements in water purification technologies such as granular activated carbon, multi-stage bubble aeration, and acoustic nanotube technology, improving the efficiency of water filtration. Products like water filter housings, cartridges, anti-scale protection, antimicrobial systems, and self-cleaning filters are contributing to the revenue growth in this region. Unilever's Pureit, launched in October 2021, incorporates high-quality RO, DURAVita filtration technology, carbon filters, and anti-scaling materials to ensure the delivery of high-quality drinking water.
The Asia Pacific market is expected to experience steady revenue growth during the forecast period. Countries like China and India, facing significant water pollution challenges, are witnessing increasing demand for water purifiers. The Chinese government reported high levels of pollution in river and groundwater resources, driving the need for effective water filters. In India, Sharp introduced the WJ-R515V-H water purifier in May 2022, employing AF disruptor technology and a 6-stage filtration process for consistent and high-quality filtered water. Rising health awareness and improving purchasing power further contribute to the market growth in this region.
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Healthcare Concerns to Drive Market
Availability of Substitutes to Hinder Market Growth
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The competitive landscape of the water filters market is characterized by a consolidated market with a few key players operating at both global and regional levels. These key players are actively involved in product development and strategic alliances to enhance their product portfolios and strengthen their position in the global market. These companies strive to offer innovative and technologically advanced water filter solutions to meet the diverse needs of consumers. By leveraging their expertise and industry knowledge, these players aim to capture a significant market share and maintain a competitive edge in the water filters market.
Water Filter Market Top Player’s Company Profiles
Water Filter Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, The future prospects of the water filter market are promising, driven by increasing awareness of water quality issues, growing concerns over waterborne diseases, and the need for safe and clean drinking water globally. The market is experiencing a shift towards smart and connected water filter systems, incorporating IoT and digital technologies to provide real-time monitoring, remote control, and data analytics capabilities. There is a growing emphasis on product customization and personalization, with consumers seeking water filters that cater to their specific needs and preferences.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 13.33 billion |
Market size value in 2031 | USD 24.53 billion |
Growth Rate | 7.01% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Water Filter Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Water Filter Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Water Filter Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Water Filter Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45L2011
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