Albany, NY -- (SBWIRE) -- 08/17/2016 -- Rapid population growth, coupled with the increasing scarcity of fresh water, has been augmenting the global water purifier market. According to a new analysis by Transparency Market Research, the global market water purifier is expected to exhibit a CAGR of 9.0% between 2015 and 2023. The market was valued at US$44.78 bn and is expected to reach US$95.57 bn by the end of 2023.The report is titled "Water Purifier Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023" and is available for sale on the company's website.

A water purifier aids water purification by removing undesired chemicals, suspended solids, biological contaminants, and gases from water. The process is aimed at making water fit for consumption. Besides purifying water for drinking, water purifiers are also designed to serve diverse purposes across chemical, pharmacological, medical, and industrial applications. The most common and widely used methods of water purification include sedimentation, filtration, chlorination, distillation, and the use of activated carbon and electromagnetic radiation such as ultraviolet light.

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The high prevalence of water pollution, particularly in urban areas, and the rising health consciousness among customers are the key factors augmenting the growth of the global water purifier market. The problem of water scarcity in areas with high a population is particularly acute. Additionally, rapid industrialization is resulting in indiscriminate dumping of waste into river water, thus aggravating the already persisting problem of water pollution even further. This has made water purifiers a necessity in urban households and industrial sectors. Besides this, the unevenness of freshwater supply in the Middle East has forced countries to depend on ocean water, resulting in high demand for water purifiers for desalination processes.

To present an executive-level blueprint of the global water purifier market, the report segments it into gravity purifiers, UV purifiers, and RO purifiers based on technology. Of these, the demand for RO purifiers has significantly increased over the years due to the rising prevalence of water-borne diseases. The demand for UV purifiers is also expected to gain momentum during the forecast period with the launch of advanced filtration technology for killing water contaminants using UV light.

In terms of end user, the report segments the market into commercial, household, and industrial segments. The global water purifier market has significantly benefitted from the rising demand from the industrial segment where water purification is carried out in a larger scale. However, the household segment held the largest share in the market in 2014 and is expected to rise at a CAGR of 10.1% during the forecast period.

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Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa are the major regional markets for water purifier. Among these nations, Asia Pacific emerged as the largest market for water purifiers in 2014. The increasing awareness among the rural population about the availability of cost-effective purifiers will significantly aid the expansion of the water purifiers market in Asia Pacific.

To study the prevailing competitiveness in the market, the report also profiles companies such as Tata Chemicals Ltd., GE Corporation (Water), Aquasana, Inc., Brita GmbH, and others.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.