Water Purification Market Size
The water purification market consists of water purifiers which are used in the purification of water for drinking. Water purification can apply to any type of water filtration system including active carbon filters, UV Ultraviolet filtration systems, carbon-filtered water pitchers, faucet-installed carbon filters, water distillers, reverse osmosis systems, chemically-treated and municipal chlorinating water processes. The global water purification market is estimated to be about $62.70 billion.
GLOBAL WATER PURIFICATION MARKET SIZE
- According to a report published on Global NewsWire, in 2016, the global water purifier market was $53.36 billion. This revenue is projected to increase to $110.02 billion by 2025 at a CAGR of 8.40% during the forecast period from 2016 to 2025.
- Therefore, to get the current market we made the following calculations;
2017 market size= ($53.36 billion x 8.4%)+53.36billion=$57.84billion
2018 market size=($57.84billion x8.4%) +$57.84billion=$62.70billion
2019 market size=($62.70billion x8.4%)+$62.70 billion=$67.97billion
- Over the past years, water purifying treatments have grown steadily due to increased product availability and selection. Also, population growth and the increase in water pollution are some factors that have contributed to the growth of this market.
- The water purification market is segmented into various technologies which include Reverse Osmosis Purifiers, Ultraviolet Purifiers, Gravity Based and Sediment Filters.
- Reverse osmosis is a type of water purification technology that involves the use of a semipermeable membrane to remove molecules, ions, and large particles from drinking water. This market segment is projected to grow with a CAGR of 9.9% from 2016 to 2025.
- This filtration process can remove about 90% to 99% of contaminants in drinking water and is also one of the technologies that is growing fast.
- Ultraviolet water purification is a method that uses ultraviolet radiation to make water suitable for drinking. This technique uses high-energy light which can make disease-causing agents and bacteria within the water inactivate.
- The Ultraviolet market segment is projected to grow at a CAGR of about 9.5% from 2016 to 2025. Its cost-effectiveness is one of the main contributing factors to its growth.
- Gravity-based water purifiers is a technique that involves the use of activated carbon or ultrafiltration (UF). Activated carbon comprises carbon granules that are small and are that absorb impurities which are present in water while ultrafiltration contains several hollow fibers of the membrane upon which the impurities stick when water is made to pass through the hollow fibers.
- Gravity-Based Water Purifiers market is estimated to grow at a CAGR of 9.9% by 2025, in terms of value due to its large scale usage in the corporation and municipality water supply.
- Sediment Filtration is another effective technique that is used to reduce turbidity in water which is as a result of the presence of suspended solids like salt and sand. The untreated water is made to pass through a filter medium which then traps suspended solids.
- Sediment Filters market segment is also expected to grow at an annual growth rate of about 9.6% in terms of value during the forecast period due to its usage in water treatment.
YOUR RESEARCH TEAM APPLIED THE FOLLOWING METHODOLOGY
To provide the global water purification market size, we first search began by searching for global market reports that addressed this market. We leveraged on reports published on Market Research and Reports, Global News Wire, Business Wire, and several others. However, none of these reports described the water purification market but the water purifier market. But, after thorough analysis, we found out that the market report published on Global News Wire addressed the question as the report defines the water purifier market by water purification technologies/systems. Hence, we believe the information provided addresses the question.