PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1463769
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1463769
Key Highlights
The water filters market was valued at USD 14.8 billion in 2023, which will increase to USD 22.5 billion, powering at over 6.4% compound annual growth rate, by 2030.
The water filters industry is expanding because of the surging requirement for purified water across the globe. The rising contamination rates in water sources have become a major worry.
The increasing concentration of industrial and human waste in water streams makes it unsuitable for consumption, mainly for drinking purposes.
The increasing consciousness regarding water quality problems is a major factor boosting the need for water filters in different end users globally.
The industry is undergoing growth because of the increase in health awareness and a rise in disposable salary, mainly in developing nations.
The increase in income levels improves the purchasing power of customers, therefore resulting in a higher standard of living.
To improve consumer satisfaction and well-being, innovative filtration technologies, including carbon nanotubes and advanced membrane systems, are being integrated by the industry players into their offerings.
Acoustic nanotube technology, aquaporin inside technology, automated variable filtration (AVF), and photocatalysis are some of the trending water purification technologies.
Market Insights
APAC accounted for the largest share of the industry in 2023, and it will remain the largest, generating approximately USD 10 billion by the end of this decade.
The industry in APAC is powered by the thriving commercial industry, government initiatives to guarantee the accessibility of clean drinking water to people, and increasing fondness for purified water.
The widespread utilization of water filtration systems in APAC is because the region accounts for 60% of the global population.
The offline category was the largest contributor to the industry in 2023. This can be mainly because of the robust fondness of customers for retail stores, because of their perception as secure environments.
Multimedia filters accounted for the leading share of the industry in 2023, of approximately 45%. This can be primarily because they are extensively utilized in industrial and municipal applications around the world.
They assist in satisfying the increasing requirement for drinkable water supply in the existing scenario of surging pollution levels as well as water scarcity.
The RO category was the largest contributor to the industry in 2023.
This can be mainly ascribed to the efficiency of RO systems, which use a semipermeable membrane to remove a wide range of contaminants like minerals, dissolved salts, microbes, and heavy metals.
Municipal accounted for a considerable share of the industry in 2023, of over 30%. This can be mainly because of the continuous incorporation of single-, dual-, and multimedia filtration systems in municipal water supply networks.
This incorporation is likely to boost the need for different kinds of filters for high-volume wastewater treatment and purification across the globe.
The global water filter industry is consolidated in nature, with major players accounting for the major share.
A varied product offering, along with greater operational effectiveness and advanced technologies, are the major tactics implemented by the key industry players to enhance their presence.