Rising Industrialization to Drive China B2B Water Purifier Market to $ 4.9 Billion by 2024
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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