Water Purification Market

Global Water Purification Market Size (2024 to 2029)

The global water purification market is expected to be worth USD 74.88 billion by 2029 from USD 47.35 billion in 2024, growing at a CAGR of 9.6% from 2024 to 2029.

Water purification is a major necessary step for the population across the globe. The water purification process involves the removal of undesirable chemicals, biological components, solids, and gases from the contaminated water. The primary goal of the water purification process is to produce purified water which can be used for specific purposes. The government sets the drinking water standards, which should undergo a purification process. 

Global Water Purification Market Drivers:

The increasing water pollution due to the chemicals and bacteria makes the water unfit for cooking, cleaning, swimming, and drinking, boosting the growth of the water purification market. The prevalence of waterborne diseases due to the presence of various bacteria and viruses is demanding water purification. Water purifiers are being widely adopted worldwide to make water safe to drink and cook. Many developed countries across the globe are using wastewater treatment procedures to control water pollution, which is fuelling the growth of the water purification market, according to a recent US Geological Survey, which stated that at least 45% of America's tap water contains polyfluorinated alkyl substances, which do not break down in the environment or human body. The consumption of water consisting of polyfluorinated alkyl substances may show various health problems in the kidney, testicular cancer, high blood pressure, or high cholesterol levels, which are still under research by the Centers for Disease Control. These factors demand water purification, which raises the market value. 

According to the UN and WHO, approximately 3.5 million people die every 21 seconds annually in developing countries due to waterborne diseases caused by contaminated water. All these cases demand water purifiers to decrease waterborne diseases by enhancing the water purification market growth. The rapid surge in the population with the scarcity of fresh water is more common in developing countries, which are raising the water purification market value. The increasing technological advancements in water purification are expected to drive market growth opportunities. The requirement for purified water is high in the food and beverages industry and in the pharmaceutical industry.

The growing trend of technology incorporation in water purifiers increases market growth opportunities. The introduction of intelligent water purifiers with advanced technologies, which involve a multi-step purification process with high efficiency, is expected to augment the market expansion. The smart purifiers are incorporated with the alarm system, which notify users during maintenance. The rising health awareness and economies of developing countries are anticipated to boost the demand for smart technologies in water purification, propelling global market growth. The rising industrial activity where water is extensively used in manufacturing and production industries is expanding the market opportunities. 

The high maintenance cost of the filters used for water purification is the major challenge for market growth. To maintain the water quality, the filters must be replaced regularly depending on the product and the technology used in the purification systems. The filters' overall maintenance cost is expensive, limiting the market expansion. The wastewater treatment process is complex as the water must undergo many procedures to become pure quality, which is challenging for the manufacturers. The stringent government regulations and standardizations for the purity level of drinking water are challenging for the manufacturers as the cleaners need to meet the requirements. 

Global Water Purification Market Restraints:

The primary factor hampering the market growth is the slow water purification process which requires much effort and time. The process is expensive due to the requirement of various filters and not cost-effective in the long run. Some water purification methods involve the wastage of healthy minerals with contaminants, which is expected to hinder market growth. There needs to be standardized quality as the distillation process uses different materials, and water efficiency may vary, limiting market expansion. In the purification process, such as the Ion exchange method, the water produced has a limited shelf life and can be expensive. All these factors are restraining the growth of the water purification market. Low-quality purifiers do not meet the water purification requirements, which may not eliminate the toxins and bacteria that may be health hazards for humans. 

REPORT COVERAGE:

This research report on the global water purification market has been segmented and sub-segmented based on purification media, application, and region.

Global Water Purification Market - By Purification Media:

• Cartridge
• Single & Dual Filter Media
• Multimedia
• Others

The single and dual filter media segment held the largest share in the global water purification market revenue in 2022 and is projected to dominate the market. The demand for single and dual-filter media is due to the greater adoption of these filters in the food & beverages, chemicals and petrochemicals, and pharmaceutical industries. The rising demand for purified water and wastewater management and filtration is expected to grow the water purification market. The dual filter media reduces the need to change cartridges frequently by increasing the shelf-life of the cartridges, which is driving the demand for this segment in the water purification market.

The multimedia segment is expected to increase during the forecast period. These multimedia filters use three different filters, mostly eliminating contaminants and releasing purified water. Multimedia filters are gaining traction in the pharmaceutical, food, and beverage industries, where water usage is high. 

Global Water Purification Market - By Application:

• Municipal
• Industrial
• Pharmaceutical
• Food & beverages
• Others

The municipal segment dominated the global water purification market with the most significant market revenue in 2022. Most of the water is being supplied by municipal water to the households, increasing the demand for water purification in this segment. High-quality purified water is highly required for households for the purpose of cooking, drinking, and other activities. The industrial and pharmaceutical segments are expected to grow steadily over the forecast period as the necessity for purified water is high in these industries. The Food and beverages industry requires a high amount of water quality as the water is used in the process of making food products, which is estimated to have a significant growth rate at a rapid pace over the forecast period. The requirement for distilled water is higher in the pharmaceutical industries as the manufacturing of the drugs requires sterile products.

Global Water Purification Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Asia Pacific region accounted for the largest share of USD 11.74 billion in the global water purification market in 2022. China is the largest shareholder in the water purification market, followed by Japan. The increasing awareness regarding waterborne diseases across emerging countries and their adverse health effects is increasing the market value of water purification. The presence of key market players in the Asia Pacific region is increasing the regional market value in the global water purification market. India is projected to increase in the forecast period due to rising awareness regarding the benefits of consuming purified water.

Europe held the second position in the global water purification market revenue. Germany held a significant market share, followed by the UK. The rising adoption of urbanization in developed countries demands a premium lifestyle, where purified water consumption is trending and increasing market growth.

North American region held the third position in the global market share. The US is the major contributor to the North American market, followed by Canada due to the presence of key manufacturers in the region. Growing initiatives by the government to reduce waterborne diseases and maintain hygiene by organizing campaigns to educate people about the benefits of purified water.

KEY MARKET PLAYERS:

Companies playing a dominating role in the global water purification market include A.O. Smith Corporation, Eaton Corporation, Pall Corporation, Mantec Purification, Suez Water Technologies & Solutions (SUEZ), Meissner Purification Products, Inc., Clear Edge Purification, Pentair PLC, Evoqua Water Technologies, Veolia, Lydall Industrial Purification.

RECENT HAPPENINGS IN THE MARKET:

• In November 2022, Culligan International initiated its merger with Waterlogic Group Holding to become a leader in clean and sustainable drinking water solutions,' Culligan.'
• In October 2022, HUL's Pureit introduced a new line of RO + UV + Minerals-based water purifiers with filter power technology, which provides clean drinking water. This technology is expected to remove hazardous compounds, including pathogens.
• In May 2022, Eureka Forbes Ltd advertised that the Aquaguard has the distinctive functionality of copper and zinc cartridges for water purification.
• In January 2022, with a new range of alkaline RO water purification products launched, Tesla Power USA started its Healthy Life division. 
• In March 2021, Samsung launched NSF-certified and customizable water purification units with ambient, multi-facet, and hot-cold facilities.