Vietnam Water Purifier Market, By Technology ; By Sales Channel ; By End-User, Trend Analysis, Competitive Landscape & Forecast, 2019-2029

Vietnam Water Purifier Market Size Expands to Cross USD 942 Million by 2029

Vietnam water purifier market size is flourishing owing to municipalities' increasing focus on providing safe water, increase in the number of water recycling treatment plants, and growing health and well-being concerns.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Vietnam water purifier market size at USD 551.43 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Vietnam water purifier market size to grow at a CAGR of 8.08% reaching a value of USD 942.14 million by 2029. An increasing demand for quality and safe drinking water and changing consumer preferences are two major growth drivers for the Vietnam water purifiers market. Due to rising consumer disposable income and technological advancements, the market for water purifiers in Vietnam is anticipated to expand over the next five years. The market for water purifiers is growing as disposable income rises in Vietnam and other emerging economies. Customers' standard of living rises as their income levels rise due to an increase in their purchasing power. Additionally, the demand for water purification systems in developing regions is being fueled by municipalities' increasing focus on providing safe water and an increase in the number of water recycling treatments.

Vietnam Water Purifier Market - Overview

Water purification produces clean water by removing natural toxins, suspended particles, gases, and undesirable substances from water. The purification procedure can be used to make water suitable for specific uses. Although most water is cleaned and sterilized before being used for human consumption, water can still be purified for clinical, medical, synthetic, and mechanical purposes. Reverse osmosis is a water purification technique that employs a membrane that is only partially permeable to ions, larger particles, and unwanted compounds. An external weight overcomes osmotic mass, cooperativity motivated by potential contrasts in the dissolvable, and a thermodynamic barrier in reverse osmosis.

Growth Drivers

Product Innovations in Water Purifiers Driving Market Growth

Producers of water purifiers are incorporating technological innovation into their products to make them more technologically advanced. The most recent technological advances in the Vietnam water purifier industry are sensors and IoT technologies. Some companies, for example, have developed IoT water sensors and IVD bacteria sensors to detect, quantify, and categorize bacteria and other fine-sized particles and aid in water ultra-purification.

Challenge:

Availability of Alternative Water Purification Technologies

Water purifiers available in the market are efficient in removing impurities and harmful elements. However, traditional and other methods of water purification, such as boiling, filtration, and chlorination, are also widely used throughout Vietnam. Because water purifiers are so expensive, households are turning more frequently to boiling and filtering. Additionally, the chlorination technology is frequently chosen by the industrial and commercial sectors because it is economical for them. These elements significantly hinder the market expansion for water purifiers in Vietnam.

Impact of COVID-19 on Vietnam Water Purifier Market

Due to the COVID-19 pandemic brought on by the highly contagious virus, Vietnam's economy experienced a significant decline. Vietnam was affected by both the first and second waves of COVID-19, and its effects were serious. The supply chains and manufacturing processes were hampered, which significantly reduced the demand for water purifiers. In addition, retail stores and direct sales were hindered by the strict lockdown restrictions that Vietnam imposed on its cities, which harmed the market. However, after COVID-19, the growth of online sales channels and the rising popularity of water purifiers are expected to offer the market lucrative growth opportunities.

Vietnam Water Purifier Market - By End User

The Vietnam water purifier market is divided into three segments based on end-users: residential, commercial, and industrial. The residential segment holds the highest market share of these. More than half of Vietnam's households, according to estimates, do not have access to safe and clean drinking water. As a result, demand for water purifiers for personal use at home is high in this country, influencing market growth. In addition, Vietnam's expanding manufacturing sector is expected to drive the water purifier market during the forecast period.

Competitive Landscape

Vietnam water purifier market is fiercely competitive. Major competitors in the market include Kangaroo Vietnam, Coway Vietnam, Karofi Vietnam Joint Stock Company, Unilever Vietnam International Company Limited, SUNHOUSE Vietnam Co., Ltd., Best Water Technology, A.O. Smith Vietnam, Miyota Vietnam Co., Ltd, Htech Vietnam Ltd., and 3M Vietnam Ltd. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Vietnam water purifier market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Vietnam Water Purifier Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Water Purifier Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.