DUBLIN, April 22, 2022--(BUSINESS WIRE)--The "Smart Water Purifier Market Forecast to 2028 - COVID-19 Impact and Global Analysis - Connectivity, Technology, End User, Sales Channel" report has been added to ResearchAndMarkets.com's offering.
The smart water purifier market was valued at US$ 1,732.23 million in 2021 and is projected to reach US$ 2,885.26 million by 2028. It is expected to grow at a CAGR of 7.6% from 2021 to 2028.
A large portion of the world population lacks sufficient access to safe water services. Advancements in water utilities and launch of new water purification technologies are needed. The quality of water differs as per the source. As a result, a single water purification solution cannot be used globally. Thus, there is a high demand for effective water purification systems.
Speaking of which, nanotechnology-based water filtration processes use a wide variety of methods to alter minerals at an atomic or molecular level. They are highly efficient, modular, and more cost-effective than traditional water filtration processes, which is making it a trending technology in smart water purifier market.
Automated variable filtration (AVF) is a simple process in which the upper flow of influent is cleansed by the downward flow of filter media. It removes the requirement for any further filter media cleaning method or freshwater. Moreover, photocatalysis-based water treatment has gained popularity in recent years due to its efficacy in purifying polluted water. In this process, toxic chemicals are removed from water using photocatalysts and ultraviolet (UV) radiation. Theses advancements in the water purification techniques contributes to the expansion of smart water purifier market.
Health concerns do not just drive the re-mineralization trend. The taste of water, particularly bottled water, is a contentious issue, and trace minerals are now widely recognized as an essential flavor component. For instance, BWT uses unique magnesium technology to return magnesium to the water throughout the filtering process, ensuring a superior flavor. These factors are likely to play a crucial role in the global smart water purifier market in the coming years.
Despite the water purifier business falling under essential services, the supply chain disruption caused by the COVID-19 pandemic has substantially impacted global smart water purifier market growth. In key manufacturing countries, continuous or partial lockdowns resulted in short-term production halts and schedule shifts.
For instance, due to 'shelter in place' instructions from governance, Pentair PLC, a leading supplier of water purification systems, had a production slowdown and operating halt. However, as manufacturers and tier 1, 2, and 3 distributors develop business continuity plans and mitigation techniques, the worldwide smart water purifier market is expected to recover in the upcoming years.
Many North American countries had imposed movement restrictions during the COVID-19 pandemic. The pandemic caused severe supply chain disruption as water purification is labor-intensive. Many enterprises import filters from Asian countries. A lack of material was compounded due to staff shortage caused by the illness. Due to logistical issues, many businesses could not complete previous orders on schedule.
As a result, they were forced to deal with a capital shortage, limiting their growth. Companies resumed operations as lockdown restrictions were gradually lifted, and the industries were declared "essential." During the pandemic, many companies advertised the benefits of pure water to increase customer awareness of their services. This tendency has given the smart water purifier market a boost after being severely impacted in the previous year.
Rising Awareness Regarding Waterborne Diseases
High Equipment and Maintenance Costs
Increasing Demand for Smart Water Purifiers in Developing Nations
Re-Mineralization for Better Taste and Health
A.O. SMITH WATER TECHNOLOGIES
Livpure Smart Homes Private Limited
For more information about this report visit https://www.researchandmarkets.com/r/eco48e.
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