The India water purifier market is fairly consolidated as the landscape is dominated by just two players in 2015, finds Transparency Market Research (TMR). These leading companies–Kent Ro system Ltd. and Eureka Forbes—accounted for a leading share of 65.0% in the India water purifier market. However, the vendor landscape is characterized by high degree of competition in the regional market on account of several small and medium-scale sized companies foraying to tap into unmet needs. Top players focus on offering cost-effective water purifier equipment and are relying on better after-sales services to gain a better foothold in the India water purifier market.
The India water purifier market stood at US$1.1 billion in 2015 and is projected to reach a worth of US$4.1 billion by 2024 end. During the forecast period of 2016–2024, the regional market is expected to clock a robust CAGR of 15.4%.
Among the various technologies used in water purifiers, the reverse osmosis (RO) held a major share of approximately 37.0% in 2015. The growth in the segment is propelled by rising attractiveness of the technology among consumers. Apart from this, UV water purifier technology is also expected to garner substantial steam during the assessment period.
Among the various end users, water purifiers are expected to witness substantial uptake among commercial and household segments. In particular, household segments are anticipated to rise at a CAGR of 15.5% during 2016–2024. The vast uptake is on account on rising demand for pure drinking water.
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Rising Demand for Purified, Potable Water in Commercial and Household Settings drive Growth
The water purifier market is driven by the growing consumer awareness about the presence of various pathogens and impurities in water, especially municipal supply of water in household settings. The rising demand for purified, potable water in commercial institutions has accentuated the demand for water purifiers. The need among worldwide consumers for preventing water-borne diseases, such as typhoid and jaundice, is a notable factor bolstering the uptake of water purifiers. There is a vast unmet need in rural regions.
The India water purifier market is expected to witness large momentum from growing affordability of various water purifier technologies. In households, water purifiers that are cost-effective due to easy maintenance have gathered large steam across households, especially in rural areas.
Innovative Digital Marketing Strategies Has Unleashed New Growth Momentum
The advent of innovative campaigns, including digital marketing strategies, has imparted a large momentum to the expansion of the India water purifier market. Rapidly growing number of retail centers and franchises across the nation is a crucial factor offering robust impetus to the growth of the India water purifier market.
Demand for water purifier technologies also witnessed a big thrust from various government initiatives to ensure clean potable water to its citizens across the nation. Efforts by water purifier equipment manufacturers to fuel awareness about the effectiveness of water purification technology are boosting the market.
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Despite recent awareness campaigns by governments and MNCs in India, there still persists lack of education among consumers about the advantages of water purifiers. Most consumers in rural areas rely on conventional method of boiling for making fit for drinking. Moreover, a large chunk of consumers are unaware about the different external conditions for purification technology.
The need for designing water purifier technology for region-specific water types for the removal of the total dissolved salts (TDS) is an unmet one for equipment manufacturers for consumers across the nation. This might open new windows of opportunity in coming years.