Unmonitored waste discharge in water sources coupled with rapid industrialization and urbanization to drive growth in China B2B water purifier market through 2024
According to TechSci Research report, “China B2B Water Purifier Market By Type, By Mode, By End Use, By Function, By Technology, By Sales Model, By Sales Channel, Competition, Forecast & Opportunities, 2013-2024”, China B2B water purifier market stood at over $ 2.4 billion in 2018 and is projected to witness a CAGR of 12% to reach $ 4.9 billion by 2024, on account of rapid urbanization and industrialization, which is resulting in rising discharge of contaminants in water sources, thereby boosting the need for water purifiers. Moreover, investments by the leading manufacturers for advertising their products is further contributing to the growing demand for water purifiers in the country. Additionally, favorable government initiatives along with increasing adoption rate for technically advanced and premium water purification products are expected to boost demand for water purifiers in China over the next five years.
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Robust growth in China water purifiers market can also be attributed to rising number of waterborne diseases and health disorders. In 2017, China Ministry of Water Resources reported that over 70% of groundwater is unfit for domestic and drinking purposes, and contains heavy metals, toxic compounds and other contaminants. Over the past few years, comprehensive growth has been witnessed in demand for commercial water purifiers, majorly for water dispensers owing to its high reliability, cost effectiveness, ease of installation and maintenance. Among sales channel, traders & retailers segment dominates China B2B water purifier market and is likely to maintain its dominance during forecast period as well. However, online sales channel is anticipated to witness the fastest growth over the next five years owing to rising customer preference for this sales channel as it makes easier for buyers to procure products.
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Plastics used in packaged water bottles brings about chemical changes to drinking water and has long lasting effects on human health. Furthermore, plastic packaged water negatively impacts the environment. Over the last five years, there has been a significant shift in consumer preference towards eco-friendly technologies. As this trend is expected to continue, demand for B2B water purifiers in China is anticipated to witness robust growth in the coming years. “Eastern part of China holds majority share in China B2B water purifier market owing to rising water pollution caused by a large number of industrial set-ups in provinces such as Shanghai, Nanjing, Qingdao and Hangzhou. Moreover, increasing level of wastewater discharge from metal, textile, chemical industries in the region is further deteriorating the water quality, which in turn, is anticipated to fuel demand for B2B water purifiers in China. This factor is likely to provide lucrative opportunities for B2B water purifiers companies operating in China in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“China Water Purifier (B2B) Market By Type, By Mode, By End Use, By Function, By Technology, By Sales Model, By Sales Channel, Competition, Forecast & Opportunities, 2013-2024” has evaluated the future growth potential of China water purifier (B2B) market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in China water purifier (B2B) market.
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