Water Purification System Industry - Regional Synopsis
North America Market Trends and Analysis
North America industry is poised to dominate majority revenue share of 28.8% by 2037. NSF says, that according to a survey conducted by Aquasana, in 2023, 91% of Americans use a water filter, increased by 25% since 2020. Raising water scarcity, faster urbanization, and increasing demand for purified water, along with Asia being the top export destination, US water purification system exports are expected to reach USD 206.06 billion by 2037.
The U.S. water purification systems market is expected to witness remarkable growth in the upcoming years. Stringent water quality standards are one of the major reasons driving the industry to emphasize. Increased demand for advanced water filtration devices is marking a prominent change in this sector with a greater hike. Government bodies are also showing interest in building water resources from recycled water, boosting the demand for durable purification systems. In September 2023, the Department of the Interior announced an investment of USD 8.3 billion in a large-scale water infrastructure project for five years. Further including water purification and reuse, water storage and conveyance, desalination, and dam safety.
Canada is witnessing a surge in the need for safe water sources, due to intensifying floods and droughts, degraded water quality and habitat loss, and inadequate source water management. An article published by the Government of Canada, in 2023, marks a major increment in the demand for certified and quality water purifying systems. Factors such as these are driving the water purification systems market in Canada significantly, both in the urban and rural areas, with an emphasis on reverse osmosis, UV purification, and advanced filtration solutions.
APAC Market Statistics
Asia contains more than 60% of the world's total population and is a promising water and sanitation market with great potential. In March 2021, the OECD published a regional analysis report on 48 countries of Asia Pacific, stating, that the COVID-19 pandemic acted as a magnifying glass on pressing water and sanitation challenges in Asia Pacific countries, referring to a larger demand for water purification systems. According to a published report by the International Journal of Pure and Applied Mathematics, in 2018, around 80% of diseases in India were caused due to water-borne microorganisms.
It is forecasted that the water purification systems market in India will witness a compounded annual growth rate of 30% till 2019, which now is expected to grow even larger with the population growth in the respective region. The decreased quality of water is the major driving factor behind the increased demand for affordable and effective water purification systems. Companies such as Kent RO are focusing on designing more efficient water filtration devices to fit all economic levels. Government initiatives are also taking place to improve the water supply.
China water purification systems market is also booming with the growing population. Increased demand for water reserves and clean water supply is inspiring companies to develop new technology for efficient filtration. The government has also issued action plans for and launched projects to improve the safety of drinking water in rural areas. In 2020, the central government invested USD 14.2 billion in the water safety project for all localities.
