Malaysia Water Purifier Market to Surge USD 536.6 million by 2031, Size, Share, Emerging Trends, Key Growth Drivers
Malaysia Water Purifier trends, demand
By end user, residential segment is anticipated to be the highest contributor to the market and is estimated to reach $390.7 million by 2031 at a CAGR of 8.0%
WILMINGTON, DELAWARE, UNITED STATES, July 2, 2024 /EINPresswire.com/ -- The Malaysia water purifier market1 size is estimated to account for $256.3 million in 2021 and is expected to grow at a CAGR of 8.1% to reach $536.6 million by 2031.
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The increase in demand for safe drinking water, growing public awareness of diseases transmitted through the water, and declining water quality due to heavy metals like zinc, lead, magnesium, etc. are the main factors of the growth. In addition, the increasing demand for a healthy lifestyle among consumers, the growing global scarcity of freshwater, and rising disposable income are all expected to drive market expansion. The market participants' introduction of technology-integrated smart water purifiers as well as an increase in disposable industrial waste and untreated sewage in water bodies are driving up demand for water purifiers.
The most important natural resource for sustaining life is water. People's concerns about their health have increased as a result of the rising prevalence of hazardous chemicals like chlorides, fluorides, and nitrate in groundwater as a result of decreasing water quality brought on by industrial expansion and the disposal of untreated sewage waste in water bodies. Additionally, the expansion of the Malaysia water purifier market is projected to be accelerated by the rising proportion of contaminated water, rising cases of different water-borne illnesses including diarrhea, hepatitis, and roundworms, and rising demand for safe drinking water.
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Market Segmentation:
The Malaysia water purifier market is segmented on the basis of technology, end user, distribution channel, and portability. Depending on technology, the Malaysia water purifier market is classified into UV, RO, and gravity based. Among these, the RO segment occupied the major share of the market in 2021, and is projected to maintain its dominance during the forecast period. RO water purification systems are widely adopted across the country, due to their performance efficiency, low electricity consumption, and regular technological innovation. However, the UV & gravity-based water purifiers segment is expected to witness decline in the Malaysia water purifier market growth during the forecast period. UV water purifiers are less efficient and cost-effective as compared to RO water purifiers, which increases RO water purifiers’ adoption among low-income groups.
By end user, the market is divided into commercial and residential. The commercial segment is growing at a moderate rate during the forecast period. This is due to rise in the number of offices, schools, restaurants, and hotels all around the Malaysia. However, residential segment is dominating the market. This is attributed to the fact that water purifiers gained popularity among residential users, due to deteriorating water quality, rise in urbanization, and surge in incidence of waterborne diseases.
By distribution channel, it is classified into retail stores, direct sales, and online. The retail stores segment held a major share 2021 as compared to others. This was attributed to higher affinity of consumers toward physical stores, as they are perceived to be safe and allow consumers to try the product before purchase. Moreover, retail stores have the added advantage of immediate gratification, which further boosts its popularity.
By portability, the market is divided into portable and non portable. The portable segment is growing at a moderate rate during the forecast period. The growing use of portable water purifiers by military personnel, campers, hikers, and workers who live in places with poor drinking water is expected to fuel the segment's expansion.
Major Key Players:
The major players analyzed for Malaysia water purifier market are Amway (Malaysia) Sdn. Bhd., Bio Pure (Elken Global Sdn. Bhd.), Coway (Malaysia) Sdn. Bhd., CUCKOO, International (Mal) Sdn. Bhd., Diamond (Malaysia), LG Electronics Inc., Nesh Malaysia, Panasonic Malaysia Sdn. Bhd., SK Magic (Malaysia).
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Key Findings Of Study
By technology, the RO segment is anticipated to be the highest contributor to the Malaysia water purifier market with $169.1 million in 2021, and is estimated to reach $364.4 million, growing at a CAGR of 8.5% from 2022 to 2031.
By end user, the residential segment is anticipated to be the highest contributor to the Malaysia water purifier market with $189.4 million in 2021, and is estimated to reach $390.7 million by 2031 growing at a CAGR of 8.0% from 2022 to 2031.
Depending on distribution channel, the retail stores segment is anticipated to be the highest contributor to the Malaysia water purifier market with $185.5 million in 2021, and is estimated to reach $381.0 million, growing at a CAGR of 7.9% from 2022 to 2031.
By portability, the non portable segment is anticipated to be the highest contributor to the Malaysia water purifier market with $253.4 million in 2021, and is estimated to reach $529.7 million by 2031 growing at a CAGR of 8.1% from 2022 to 2031.
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1 https://www.alliedmarketresearch.com/malaysia-water-purifier-market
2 https://www.alliedmarketresearch.com/water-well-drilling-services-market-A07652
3 https://www.alliedmarketresearch.com/water-tank-market-A07993
