Smart Water Purifier Market Research Report and Outlook by 2028

In 2021, the smart water purifier market was valued at approximately US$ 1,732.23 million and is anticipated to grow to around US$ 2,885.26 million by 2028, reflecting a compound annual growth rate (CAGR) of 7.6% during this period.

Globally, a significant number of individuals lack sufficient access to safe drinking water, underscoring the urgent need for enhancements in water utility services and the introduction of innovative water purification technologies. It is crucial to recognize that the quality of water can differ based on its source, which makes it challenging to establish a one-size-fits-all solution for water purification. Consequently, there is a substantial demand for efficient water purification systems.

Nanotechnology-based filtration methods are gaining traction in the realm of water purification due to their capability to manipulate minerals at the atomic or molecular level. These advanced processes are not only highly effective but also modular and more economical compared to conventional filtration techniques, making them a popular choice in the smart water purifier sector.

The smart water purifier market is witnessing growth driven by innovations in purification technologies, including Automated Variable Filtration (AVF) and photocatalysis-based treatment methods. AVF is a straightforward technique that utilizes the downward flow of filter media to purify the upper flow of influent, thereby eliminating the necessity for additional cleaning of filter media or the use of fresh water. On the other hand, photocatalysis-based water treatment has become increasingly favored due to its effectiveness in removing harmful chemicals from water through the use of photocatalysts and ultraviolet (UV) light.

Several factors are expected to shape the global smart water purifier market, including health considerations and consumer taste preferences. The trend of re-mineralizing water is not only motivated by health issues; trace minerals are now acknowledged as vital for enhancing the flavor of water, especially in bottled varieties. For example, BWT utilizes cutting-edge magnesium technology throughout its filtration process to reintroduce magnesium into the water, thereby improving its taste. These elements are likely to serve as significant growth catalysts for the smart water purifier market in the foreseeable future.

The COVID-19 pandemic has profoundly affected the global smart water purifier market, despite the fact that the water purification sector is classified as an essential service. Disruptions in supply chains due to ongoing or partial lockdowns in key manufacturing regions have resulted in temporary production halts and delays. For instance, Pentair PLC, a leading provider of water purification solutions, faced production slowdowns and operational interruptions due to government-imposed 'shelter in place' orders. Nevertheless, as manufacturers and distributors across various levels implement business continuity strategies and mitigation measures, the global smart water purifier market is projected to rebound in the coming years.

In North America, the pandemic led to movement restrictions that caused significant disruptions in the supply chain for water purification, a process that relies heavily on labor. Many companies depend on imports of filters from Asian nations, and the shortage of materials was exacerbated by workforce reductions due to illness. Consequently, numerous businesses struggled to fulfill existing orders on time, resulting in a capital shortage that hindered their growth. However, as lockdown measures were gradually eased, companies resumed their operations, and the water purification industry was recognized as "essential." During the pandemic, many firms highlighted the advantages of clean water to raise customer awareness of their services, which has contributed to the recovery of the smart water purifier market after a challenging previous year.

To assess the overall size of the global smart water purifier market, a combination of primary and secondary research methods was employed. Extensive secondary research was conducted using both internal and external sources to collect qualitative and quantitative data relevant to the market. This approach also facilitated an overview and forecast for the smart water purifier industry across all its segments. Additionally, numerous primary interviews were held with industry stakeholders and commentators to validate the findings and gain deeper analytical insights. Participants included industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, along with external consultants like valuation experts, research analysts, and key opinion leaders specializing in the smart water purifier market.