Global Air Purifier Market: Industrial Analysis and Forecast (2020-2026)
Global Air Purifier Market was valued $5,200.0 Mn in 2019 and is expected to reach $xx Mn by 2026, at a CAGR of 8.3% during the forecast period.
Global Air Purifier Market Introduction
A system that eliminates pollutants from the air and enhances air quality is known as an air purifier. In the pharmaceutical sector, commercial air purifiers are available as small stand-alone units or larger units that can be connected to an air handler unit (AHU) or an HVAC unit, manufacturing, and commercial industries. Air purifiers are yet to be thoroughly adopted in emerging markets around the world. With the outbreak of the pandemic, people became more aware of the importance of breathing clean air and protecting their families from bacteria and viruses. Significant increases in emission levels in developing countries as a result of rapid industrialization and urbanization offer significant opportunities for international key players.
Global Air Purifier Market Dynamics
Rising airborne diseases and rising pollution levels in urban areas are expected to drive the demand for air purifiers. Furthermore, increasing disposable income, rising health consciousness, and improving living standards are expected to drive business growth. Pathogens and irritants are being broken down using cutting-edge methods such as ultraviolet (UV) LEDs and photo catalytic technology. To successfully launch their models in the air purifier industry, startups are turning to crowd-funding techniques. Air quality sensors, which operate in tandem with purifiers to calculate the risk of viral transmission and microbial growth, are a boon to device manufacturers. Market players are primarily concerned with expanding their global reach and presence. To retain their competitive advantage in the global market, they use merger and acquisition, alliance, and cooperation tactics. Furthermore, the most significant factor driving air purifier technology advancement is new product enhancement and production. For instance, in 2019, American Air & Water Inc. teamed up with the Don Ryan Center for Innovation (DRCI) to help launch its Prism UVTM indoor pathogen disinfection device, which uses smart light technology.
Integration of emerging technologies like the Internet of Things (IoT), Artificial Intelligence (AI), and others are critical for product transformation. The changing customer preference for smart and convenient products forces industry participants to innovate in air purifier technology on a regular basis. In April 2020, Daikin Industries Ltd. invested US$ 2 million in Locix Inc., a start-up based in the United States, to use its spatial intelligence solutions to grow its AC solutions market.
Global Air Purifier Market Segment Analysis
Due to rising environmental norms pertaining to improving air quality and technological advances, such as the recent introduction of high-efficiency particulate air (HEPA) filters, the air purifier industry is growing at a rapid rate. In hotels and restaurants, air purifiers with activated carbon and HEPA are used to remove airborne particulates, smoke, and odor from the air, thus enhancing the air quality. In 2020, HEPA was the market leader, accounting for 39.9% of global sales. HEPA filters are extremely effective at trapping pollen, dust, smoke, and bio-contaminants in the air. Consumers prefer them because of their ability to filter over 99 % of airborne particulate matter. With a significant percentage of the world's population suffering from respiratory diseases like asthma, these purifiers help to relieve their suffering by efficiently filtering out harmful dust particles, thus improving overall health.
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In 2020, the commercial application segment dominated the market, accounting for 54.4 % of sales. Hospitals, offices, hotels, educational institutions, movie theatres, shopping malls, conference centers, and other leisure facilities are all places where air purifiers are used commercially. In hotels and restaurants, air purifiers with activated carbon and HEPA are used to remove airborne particulates, smoke, and odor from the air, thus enhancing the air quality. Air purifiers are used to eliminate allergens, airborne bacteria, and odor from the air and preserve indoor air quality for patients and workers in dental and medical laboratories, veterinary hospitals, boarding kennels, animal kennels, clinics, and hospitals.
Global Air Purifier Market Regional Insights
https://www.maximizemarketresearch.com/wp-content/uploads/2021/05/Global-Air-Purifier-Market-1.pngAsia-Pacific region has been a catalyst for the market for air purifiers. In 2020, Asia Pacific dominated the industry, accounting for 41.6 % of sales. This is due to a combination of factors, including rapid urbanization and industrialization, as well as an increasing population with more disposable income. The industrial revolution is at its height in developing countries such as India and China, which is expected to fuel the demand for air purifiers in both countries. In India, on the other hand, the air purifier market is largely limited to northern India, which accounted for about 75% of annual air purifier sales in 2018. The demand has increased by more than 50% over the last few years. In 2018, factors such as increased market awareness and increased promotional efforts by all major corporations drew more people into retail stores.
Over the forecast period, the North American market is expected to grow at a compound annual growth rate of xx%. Air quality policies such as the US EPA's establishment of national ambient air quality standards, the US Clean Air Act, and Environment Canada's ambitious pollution mitigation strategies are expected to provide new opportunities for air purifier manufacturers.
Due to the rapid growth of application industries in the United Kingdom, Italy, Germany, and France, the European region is projected to hold a large value share and exceed USD 3.76 billion by 2027. Furthermore, the majority of global manufacturers are based in Europe, especially in the United Kingdom and Germany, and Europe accounts for a significant portion of global equipment exports.
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Global Air Purifier Market Report Scope: Inquire before buying
Global Air Purifier Market, by Region
• North America
• Europe
• South America
• MEA
• Asia Pacific
Global Air Purifier Market Key Players
• Honeywell International Inc.
• Whirlpool Corporation
• Alen Corporation
• AllerAir Industries Inc.
• Koninklijke Philips N.V.
• Dyson Limited
• Unilever plc
• The Camfil Group
• IQ Air
• WINIX Co. Ltd.
• Sharp Corporation
• Daikin Industries Ltd.
• Samsung Electronics Co. Ltd.
• LG Electronics Inc.
• Xiaomi Corporation
• HSIL Limited
• Panasonic Corporation
• Kent RO Systems
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