Global Air Purifier Market Expected to Reach US$ 40,618.7 Mn by 2027: Industry Probe

May 03, 2019, Domain: Consumer Goods & Retail

According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Air Purifier Market (Product Type: Stand- alone (Less Than 100 sq. ft, 101 – 400 sq. ft., 401 – 800 sq. ft, Above 801 sq. ft.) and In- duct (Less Than 1000 sq. ft, 1001 – 4000 sq. ft., 4001 – 5000 sq. ft, Above 5001 sq. ft.); Technology: HEPA (High-Efficiency Particulate Air), Activated Carbon, Electrostatic, UV Technology, and Others; Operation Mode: Smart and Conventional; End-user: Residential, Commercial, and Industrial; Distribution Channel: Online and Offline (Hypermarket/ Supermarkets, Specialty Stores, Brand Stores)) – Global Industry Dynamics 2018-19 Trends and Forecast 2020-2027’.

Overview

  • The global air purifier market was valued at US$ 24,953.5 Mn in 2018 and is expected to expand at a CAGR of 5.7% from 2019 to 2027. Increasing expenditure on household appliances and increasing awareness about indoor health and hygiene are expected to boost the global market of air purifier in the near future.

  • Asia Pacific held a prominent share in the global air purifier market in 2017 followed by North America and Europe. Asia Pacific is expected to be a key upcoming market for air purifiers during the forecast period. Significant expansion of industries and commercial segments which results in increasing air pollution in developing regions is anticipated to be a key factor driving the air purifier market in this region.

Driving Factors

  • Rising infrastructure activities and increasing awareness in healthcare, tourism, and hospitality sector is expected to increase the demand of air purifier among different end user such as industrial, commercial and residential. Air purification systems for residential applications are still at a nascent stage but are anticipated to grow during the forecast period due to indoor air quality concerns.

  • Increasing infrastructure and industrial activities and use of vehicles especially in developing regions leads to increasing levels of dust and smoke.

  • Additionally, increasing Indoor Air Quality (IAQ) concerns and increasing health awareness related to ill effects of air pollution are the main drivers of air purification systems.

  • Modern air purifiers contain upgraded technology and sensors, which offer several features that increase the market attractiveness of air purifier. Expansion of the air purifier market in emerging economies due to rising income and changing consumer preference toward e-commerce are driving the business of air purifier manufacturers, which in turn is boosting the air purifier market.

Key Challenges

  • However, release of harmful byproducts and higher cost related to air purifiers are the major challenges restricting higher adoption of these systems.

Market Preference

  • In terms of product type, stand-alone air purifiers are mostly preferred by residential as well as commercial users due to their convenience and cost-effectiveness

  • In terms of technology, HEPA purification system is the major segment and is anticipated to dominate the market during the forecast period, followed by activated carbon purifier, due to their high efficiency in removing particulate matter and odor. HEPA contributes major share of the air purifier market and is anticipated to expand at a CAGR of more than 6.3% during the forecast period.

  • In terms of operation, smart air purifiers dominate the air purifier market. Smart air purifiers come with Wi-Fi and Bluetooth technology and they can be easily operated through smartphones. Growing adoption of smart appliances and user friendly features are expected to increase the demand for smart air purifiers during the forecast period.

  • Based on end-user, the residential segment dominates the market

  • In terms of distribution channel, the online distribution channel is expected to be the most attractive segment during the forecast period due to the preference of individuals toward online shopping.

  • In terms of region, Asia Pacific holds a major share of the global air purifier market, followed by North America. Awareness about indoor air quality, cleanliness, and hygiene among consumers, are expected to increase the market attractiveness of air purifiers across the world during the forecast period.

Competitive Landscape

  • The air purifier market is dominated by several players who are focused on the development of new products to cater to the rising and shifting consumer preferences.

  • The reports includes the below mentioned pointers of the major players operating in the air purifier market:

    • Competition Matrix

    • Company Overview

    • Product Profiling

    • Market Share Analysis (2018)

    • Product Innovation

    • Product Comparison Analysis

    • Business Strategies / Recent Developments

      • Technological advancements

      • Key mergers and acquisitions

      • Expansion strategies

    • Company Financials

Major Players Covered under the Scope

  • Daikin Industries Ltd

  • Panasonic Corporation

  • Philips Electronics N.V.

  • Samsung Electronics Ltd

  • LG Electronics Inc.

  • Blueair

  • Sharp Corporation

  • Honeywell International Inc.

  • Electrolux AB

  • Whirlpool Corporation

  • Hitachi Ltd

Research Objectives/Market Taxonomy

Air Purifier Market – Global Industry Dynamics 2018-19 Trends and Forecast 2020-2027

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