The lake bank is covered with waste at Taihu National Tourism Vacation Zone in Suzhou, Jiangsu Province. (Photo : Getty Images)
The water purifiers market in China is predicted to grow at a compound annual growth rate (CAGR) of more than 18 percent from 2016 to 2025, according to the report by TechSci Research, a research based global management consulting firm.
The compound annual growth rate (CAGR) the measure of growth over multiple time periods.
Yahoo News cited the TechSci's report, "China Water Purifiers Market By Technology, By Sales Channel, Competition Forecast and Opportunities, 2011-2025,'' which said that manufacturing's strong growth, rapid urbanization and industrialization in China will drive the sustained growth in the market.
The report, however, said that waste discharge in waterways has been unmonitored as China's Ministry of Water Resources said in 2016 that more than 80 percent of ground water is unsafe for household and drinking purposes as it is contaminated with heavy metals, toxic compounds and other pollutants.
According to the ministry, the growth in the water purifiers market could also mean a rise in the number of waterborne diseases and other health illnesses.
The country's rate of urbanization and industrialization grew at 55.60 percent and 42.80 percent, respectively, in 2015. Leading the demand for water purifiers are industrialized provinces such as Nanjing, Shanghai, Hangzhou and Qingdao with heavy water pollution.
The demand for water purifiers was also driven by rising levels of wastewater coming from agriculture and chemical industries in the country, the report said.
But the traditional way of brand building and marketing water purifiers has given way to advanced technology as online sales, along with better logistics and distribution network, dominated the sales of water purifier in the country, according to the report.
"China water purifiers market is dominated by offline/gravity water purifiers due to their relatively low cost and rising awareness levels in rural areas about benefits of water purifiers. Moreover, offline/gravity water purifiers are energy independent, require minimum maintenance and can be installed at a very low price," Karan Chechi, a research director with TechSci Research, said.
He added: "However, consumers in the country are slowly opting for advanced technology-based water purifiers such as membrane water purifiers and combined technology based water purifiers due to their high efficiency in eliminating pathogenic microorganisms and other contaminants.
"Rising standards of living and growing disposable income levels are further anticipated to propel demand for advanced technology-based water purifiers in China through 2025."
TechSci's report also analyzed the growth potential of the country's water purifiers market and provided statistics and information on market size, structure and future market growth.
The report also identified and evaluated emerging trends as well as drivers, challenges and opportunities in the market.
The report said that the research was aimed at helping decision makers in making investment evaluation by providing them with market information.
