Rising water contamination, increasing investment in residential sector and launch of innovative water purification systems to propel demand for water purifiers in South Korea through 2023
According to TechSci Research report, “South Korea Water Purifier Market By Type, By Application, By Sales Channel, Competition Forecast & Opportunities, 2013 – 2023’’, water purifier market in South Korea is forecast to surpass USD4.3 billion by 2023 owing to rising water contamination levels in the country’s water bodies. South Korea majorly draws its water from artificial reservoirs, which have high eutrophication levels, which is turn generates the need for water purifiers in the country. Moreover, rising concerns associated with water borne diseases coupled with increasing purchasing power of consumers is expected to further push demand for water purifiers in the country over the next five years.
Further, increasing number of smart city project investments in the country along with upcoming new huge construction projects in South Korea are anticipated to positively impact water purifier sales in the country for both point of use and point of entry usage. Demand for point-of-use water purifiers is high compared to point-of-entry water purifiers on account of higher preference for countertop water purification systems that offer storage option as well, making them convenient for consumers to use.
Browse 45 market data Figures and Tables spread through 93 Pages and an in-depth TOC on “South Korea Water Purifier Market”
Based on the application category, the South Korea water purifier market is segmented into residential, commercial, industrial, healthcare and food & beverages segments. Demand for water purifiers in the residential sector would continue to flourish at a robust pace in the coming years, with the residential application segment maintain its market dominance through 2023. In terms of sales channel, direct sale of water purifiers in South Korea is a preferred mode, with majority of the leading water purifier companies selling their products directly through door to door sales channel or through company websites or authorized stores.
In 2017, the central region of South Korea accounted for the largest share in the country’s water purifier market mainly due to large and rising number of commercial, industrial and residential buildings in the region. “In 2017, Coway captured the largest market share in South Korea water purifier market, followed by Cuckoo Electronics, ChungHo Nais, SK Magic, and Korea Amway. As companies focus towards launching innovative water purifiers that cater to multiple consumer needs such as hot water, cold water, coffee machine, ice machine, water purifier sales in South Korea will continue to grow at a significant pace over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“South Korea Water Purifier Market By Type, By Application, By Sales Channel, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of water purifier market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in South Korea water purifiers market.
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