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Smart Water Purifier Market to hiUS$ 288526 million Globally

2022-04-04 09:34 未知 admin

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According to our new research study on Smart Water Purifier MarketForecast to 2028 COVID-19 Impact and Global Analysis by Connectivity, Technology, Sales Channel, End User, and Geography, the market is projected to reach US$ 2,885.26 millio...

According to our new research study on Smart Water Purifier MarketForecast to 2028 COVID-19 Impact and Global Analysis by Connectivity, Technology, Sales Channel, End User, and Geography, the market is projected to reach US$ 2,885.26 million by 2028 from US$ 1,732.23 million in 2021. It is estimated to grow at a CAGR of 7.6% from 2021 to 2028.

Decreasing drinking water supplies in several emerging nations such as India and China in the Asia Pacific and a few countries in Africa lead to a rise in expenditure on smart water purification infrastructure. Increasing awareness campaigns by leading health organizations such as WHO to combat the water crisis and shortage of clean drinking water will also aid smart water purifier market proliferation in the forthcoming years.

The smart water purifier markets major players have spent much of their revenue researching and developing innovative water purification products and production processes. The top leaders growth strategies include broader product offers backed by exceptional operational efficiency and cutting-edge technologies. Virgin Pure, AO SMITH WATER TECHNOLOGIES, and LG Electronics are key players with well-established and robust supply chains. Leading businesses use new product designs and purchase from small-scale manufacturers or suppliers to strengthen their market position and remain ahead of the competition. For instance, Kent RO Systems Ltd. announced intentions to invest roughly US$ 19 million in a new production unit over the next three years. The company plans to add a US$ 0.4 million yearly capacity to its third unit to quadruple revenue.

Based on the connectivity, the global smart water purifier market has been segmented into Wi-Fi, Bluetooth, and smart app. Based on the technology, the market has been segmented into ultra-filtration (UF), ultraviolet (UV), reverse osmosis, multi-stage purifiers, and others.

Based on the end-user, the global smart water purifier market has been segmented into residential, commercial, and industrial. Based on sales channels, the smart water purifier market has been segmented into retail stores, direct sales, and online.

Increasing Demand for Smart Water Purifiers in Developing Nations Creating Growth Opportunities

Decreasing drinking water supplies in several emerging nations, such as India and China in Asia Pacific and a few countries in Africa, leads to a rise in smart water purification infrastructure expenditure. Increasing awareness campaigns by leading health organizations such as WHO to combat the water crisis and shortage of clean drinking water will also aid the proliferation of the smart water purifier market in the forthcoming years.

These organizations are also sponsoring water purifier firms, which, in turn, has prompted manufacturers to announce better offers in these areas to maximize profits. They sell low-cost water filtering systems such as Cycloclean, created by Japans Nippon Basic Company. This is a water purification bike made specifically for isolated areas. Another example worth mentioning is the launch of a compact cigar-shaped water filter tube by LifeStraw Water Filters and Purifiers.

Some companies are also engaging in partnerships and collaborations to generate revenues. For example, Whirlpool Corporation is extending its distribution and production capabilities to broaden its regional reach. Pureit also established its business in India by partnering with community-based water plants, providing a lucrative opportunity for the growth of the smart water purifier market during the forecast period.

Leading Smart Water Purifier market Players:

Virgin Pure, 3M, AO SMITH WATER TECHNOLOGIES, LG Electronics, Livpure Smart Homes Private Limited, Membrane Solutions, LLC, Eureka Forbes, KENT RO SYSTEMS LTD, Coway USA Inc., and Xiaomi Corporation are the leading companies operating in the global smart water purifier market.

Players operating in the smart water purifier market are mainly focused on developing advanced and efficient products.

In May 2021, Virgin Pure had explained the benefits of the Virgin Pure water system. A water system is a single, stylish device installed by Virgin Pure engineers in homes and offices across the UK that provides unlimited, instant, pure boiling, or chilled H2O. Virgin Pure is playing an important part in making Britain plastic-free.

In April 2022, A.O. Smith Corporation announced the acquisition of Giant Factories, Inc., a Canadian manufacturer of residential and commercial water heaters, for approx. US$ 192 million. The acquisition strengthens the companys leadership position as a global water treatment giant.

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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