Dublin, Sept. 15, 2020 (GLOBE NEWSWIRE) -- The "Air Purifier Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global air purifier market size is expected to grow at a CAGR of over 42% during the period 2019-2025.
The global air purifier market is one of the growing segments in the electronic appliances industry. The usage of air cleaners is growing across countries, particularly where pollution levels are extremely high. Factors such as the increase in industrial activities, rise in urbanization, increase in air pollution due to high emission from factories, and household activities are the key market drivers. APAC, Europe, and North America are major regions with a high demand for air filters.
The market is expected to observe a surge in sales in various regions. The residential segment is expected to witness an increase in the market share during the forecast period. This is on account of the high demand for air purifiers in the household category. Innovations such as wearable and other portable and smart purifiers are expected to increase market penetration. The demand from countries such as China, India, South Korea, US, Germany, Mexico, and Russia is expected to grow. Standalone units with HEPA filters are expected to have a high share during the forecast period
The following factors are likely to contribute to the growth of the air purifier market during the forecast period:
- Wearable Air Purifiers
- Advancement in Air Purifier Technology
- Demand for Energy-efficient Air Purifiers
- Demand from High Altitude Cities
AIR PURIFIER MARKET SEGMENTATION
This research report includes a detailed segmentation by technology, application, and geography. The HEPA segment is expected to grow at the highest CAGR of over 44% during the period. One of the major reasons for the high dominance of this segment is HEPA filters are efficient to clean out around 99.97% of particulate pollutants such as pollen, dust, along with irritating particles and pollutants. These filters, however, are less efficient in clearing odor, chemicals, and gases. However, these filters require high maintenance, as they need replacement in every 3-4 months. The APAC region constitutes the highest demand with an increase in pollution rates and growth in commercialization.
The commercial segment dominated the global market in 2019. The surge in demand is estimated to increase from hotels, offices, public buildings, educational institutions, and hospitals. Several established players have set up advanced R&D systems to cater to higher demand for innovative and cost-effective products in commercial spaces globally.
Industrial air purification systems are witnessing high adoption in the automotive, healthcare, power, and food manufacturing sectors. With the increased focus on the health of factory and industry workers, the demand for industrial purifier is expected to grow during the forecast period. Electrostatic precipitators are considered to be efficient and effective in removing particulates from the atmosphere in various heavy industries including cement, pulp& paper, power plant, and others.
The residential segment is witnessing increasing demand due to the increase in awareness of home pollutants. Indoor air pollution is considered as one of the top five environmental health risks. Therefore, the demand for residential purifiers is expected to increase in several regions, particularly in highly polluted cities. The growing number of severe respiratory diseases due to pollution is expected to increase the application of filters worldwide. Majorly HEPA filters are dominating the residential segment followed by ionic filters.
KEY QUESTIONS ANSWERED:
1. What are the global air purifier market size and growth forecast?
2. What are the factors impacting the growth of the air purifier market forecast?
3. What is the leading region in the air purifier market?
4. Who are the strategic market players and how are they driving the market growth?
5. What is the impact of the COVID-19 pandemic on the market?
INSIGHTS BY VENDORS
The global air purifier market is in the growth stage. It has achieved popularity and high penetration in China, India, and the US. The market consists of a high number of players in these regions, making it highly fragmented and competitive. Major key players account for more than 60% share of the overall market in North America, Europe, and the Asia Pacific. On the contrary, there are no significant players in countries such as the UAE and Saudi Arabia. There is an immense opportunity for vendors to expand their business in high polluting countries and densely populated regions.
Philips air purifier market share is likely to grow on account of the growing market for home care appliances, which is increasing in sales and profits. Some European countries are under-penetrated with a large potential to be addressed. Mergers and acquisitions can help air purifier companies to penetrate and expand their reach, which is expected to be a key success factor for the air purifier industry.
- Blue Star
Other Prominent Vendors
- Rabbit Air
- A.O. Smith
- Blue Air
- IQ Air
- Eureka Forbes
- Camfil Group
- The 3M Company
- Air Pura
- Boneco AG
- Guardian Technologies
- Pure Enrichment
For more information about this report visit https://www.researchandmarkets.com/r/dbhz03
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