smart water purifier Market

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.

Many people worldwide do not have adequate access to safe water services, highlighting the need to improve water utilities and introduce new water purification technologies. It is important to note that water quality varies depending on its source, making it impossible to have a universal water purification solution. Therefore, the demand for effective water purification systems is significant.

When it comes to water filtration, nanotechnology-based processes are becoming increasingly popular due to their ability to manipulate minerals on an atomic or molecular level. These processes are highly efficient, modular, and more cost-effective than traditional filtration methods, which is why they are a trending technology in the smart water purifier market.

The smart water purifier market has been expanding due to advancements in water purification techniques, such as Automated Variable Filtration (AVF) and photocatalysis-based water treatment. AVF is a simple process that uses the downward flow of filter media to cleanse the upper flow of influent, eliminating the need for additional filter media cleaning or freshwater. Meanwhile, photocatalysis-based water treatment has gained popularity in recent years because of its ability to effectively remove toxic chemicals from water using photocatalysts and ultraviolet (UV) radiation.

The global smart water purifier market is expected to be influenced by various factors, including health concerns and taste preferences. The trend towards re-mineralization of water is not solely driven by health concerns, as trace minerals are now recognized as a crucial component of water flavor, particularly in bottled water. BWT, for instance, employs innovative magnesium technology throughout the filtering process to restore magnesium to the water and provide a superior taste. These factors are expected to be significant drivers of growth in the smart water purifier market in the years to come.

The COVID-19 pandemic has had a significant impact on the global smart water purifier market, even though the water purifier business falls under essential services. Supply chain disruptions resulting from continuous or partial lockdowns in key manufacturing countries have led to short-term production halts and schedule shifts. For instance, Pentair PLC, a major supplier of water purification systems, experienced production slowdowns and operating halts due to 'shelter in place' instructions from governments. However, as manufacturers and distributors at different tiers develop business continuity plans and mitigation techniques, the worldwide smart water purifier market is expected to recover in the coming years.

The COVID-19 pandemic resulted in movement restrictions in many North American countries, causing significant supply chain disruptions for water purification, which is a labor-intensive process. Many companies import filters from Asian countries, and a lack of materials was compounded by staff shortages caused by illness. As a result, many businesses were unable to complete previous orders on schedule, leading to a shortage of capital that limited their growth. However, as lockdown restrictions were gradually lifted, companies resumed operations, and the water purification industry was declared "essential." During the pandemic, many companies emphasized the benefits of pure water to increase customer awareness of their services, which has helped boost the smart water purifier market after being severely impacted in the previous year.

To determine the overall global smart water purifier market size, both primary and secondary sources were used. Exhaustive secondary research was conducted using internal and external sources to gather qualitative and quantitative information related to the market. This process also helped provide an overview and forecast for the smart water purifier indusry concerning all its segments. Additionally, multiple primary interviews were conducted with industry participants and commentators to validate the data and obtain more analytical insights into the topic. Participants in this process included industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the smart water purifier market.