The Asia Pacific Water Filters Market was worth US$ 3.32 billion in 2023 and is anticipated to reach a valuation of US$ 6.08 billion by 2029 and it is predicted to register a CAGR of 10.57% during the forecast period 2024 to 2029.
The Asia Pacific Water Filters market is estimated to rise at a noteworthy compound annual growth rate throughout the foreseen period. The water filter market is defined as the market of devices employed to decontaminate water from harmful substances, chemicals, pathogens, microorganisms, and other dissolved solids and to make it portable. Nan Yang Technology University in Singapore recently developed a multi-functional water filtration membrane. This new water filter technology replaced the usual polymer-based water filtration membranes with titanium dioxide nanotechnology.
According to the UN and the WHO, every 21 seconds, a child and close to 3.5 million individuals die in a year in developing countries owing to waterborne diseases caused by drinking contaminated water. The situation in the growing economies like the Asia Pacific is worse owing to the scarcity of freshwater, an increase in pollution, and a fast increase in population. Hence, development in the incidence of waterborne disease mainly boosts the call for water filter market trends, especially in the Asia Pacific nations. The diminishing quality of water is resulting in major health problems. The declining water quality is a result of dumping untreated sewage, chemicals, pesticides, nutrients, and garbage from factories, agriculture, and municipal corporations into water bodies.
The rise in disposable income in growing nations fuels the expansion of the Asia Pacific water filter market. The increase in income level surges the purchasing power of consumers which, in turn, results in a better standard of living. In addition to that, the demand for water purification systems in developing countries is boosted by a rise in the availability of safe water by municipalities and a rise in the number of water recycling treatments. Furthermore, the widespread availability of healthcare services, changes in economic & social systems, and better diagnostics have improved the health of customers across different nations of the APAC. Therefore, a rise in health consciousness and an upsurge in the incidence of waterborne diseases boost the demand for water purification systems. Some of the growing nations in the Asia Pacific, like India and China, have showcased a rise in disposable income, due to the skill development of the population and an increase in employment in service-centered businesses. This has escalated the call for water purification systems in these fields and has contributed to the growth of the Asia Pacific water filter market.
In 2019, the RO water filter sector occupied the most significant share of around 65.4%, followed by UV sector with 20.7%, and is estimated to rise at the highest CAGR of 9.9% from 2021 to 2025. RO water purification systems are broadly adopted across the world, owing to their performance efficiency, low electricity consumption, and regular technological innovation.
The retail store sector held a large water filter market share of 73.8% in 2018 when compared to others. This was credited to the higher affinity of customers toward physical stores, as they are perceived to be safe and allow customers to try the product before buying.
Asia Pacific Water Filters Market By Country
Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & the Rest of APAC.
Asia-Pacific water filters market was the biggest market in 2018, as the region has close to 60% of the population of the world with nations like China, India, Vietnam, Thailand, Indonesia, Philippines, and Macau as the growing markets. The expansion of the market in the Asia Pacific is majorly driven by the rise in the call for water & wastewater treatment & filtration and consumption of water by significant end-use businesses, including food & beverages, chemicals & petrochemicals, pharmaceuticals, and oil & gas. These businesses are showcasing expansion due to the rising per capita expenditure and rising urbanization that are further estimated to create a demand for water filters in the region. China's water filter market and the Indian water filters market are the highest contributors to the APAC business.
Companies playing a prominent role in the Asian Pacific water filters market include Eaton Corporation (US), Suez Water Technologies & Solutions (France), Veolia (France), Dow Water & Process Solutions (US), EvoQua Water Technologies (US), Mann-Hummel (Germany), Pall Corporation (US), Pentair PLC (UK), and Others.
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