Air Humidifier Market to Reach $3.81 Bn, Globally, by 2025 at 4.7% CAGR: Allied Market Research
PORTLAND, Oregon, January 30, 2019 /PRNewswire/ --
Adverse health issues due to dryness of indoor air, deterioration in climatic conditions, growth in commercial & residential construction sectors, and supportive government standards & regulations facilitate the growth of the global air humidifier market
Allied Market Research published a report, titled, "Air Humidifier Market by Type (Vaporizers, Impeller Humidifier, Ultrasonic Humidifier, and Wick/Evaporative Systems), Application (Commercial, Industrial, and Residential) and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2018-2025." The report provides extensive analyses of the key winning strategies, industry trends, key market segments, market size & projections, and competitive landscape. According to the report, the global air humidifier market generated $2.63 billion in 2017 and is expected to reach $3.81 billion by 2025, registering a CAGR of 4.7% from 2018 to 2025.
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Adverse health problems due to dry indoor air such as respiratory distress, dry sinuses, bleeding noses, & cracked lips, surge in construction activities in commercial & residential sectors, and supportive government standards and regulations drive the growth of the market. However, high cost of maintenance and side effects of white dust generated due to evaporation of minerals hamper the market growth. On the other hand, surge in disposable income and increase in awareness about the effects of static electricity on semiconductor devices create new opportunities to the market.
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Vaporizers segment to dominate in terms of revenue through 2025
Vaporizers segment accounted for 29.5% of the total market revenue in 2017 and is expected to remain dominant throughout the forecast period. This is due to recent developments such as automatic regulation of humidity level, economical pricing, and distribution of soothing moisture to breathe easily & sleep comfortably. However, the ultrasonic humidifier segment is expected to register the highest CAGR of 5.7% from 2018 to 2025, owing to its low cost, high energy efficiency, and negligible production of white dust. The report also analyzes impeller humidifier and wick/evaporative systems.
Residential segment to retain lion's share through 2025
The residential segment held the largest share in 2017, contributing nearly half of the total market revenue. This segment is expected to maintain its lead through 2025 due to the deteriorating air quality, increase in health concerns, and recent technological developments such as humidity controller and app-controlled devices. Moreover, the industrial segment is projected to register the highest CAGR of 5.2% from 2018 to 2025, owing to rapid industrialization, rise in concerns about unhealthy air quality at workplaces, and benefits of ultrasonic air humidifiers such as silent operation and low maintenance. The report also analyses the commercial air humidifier segment.
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North America to remain dominant through 2025
The air humidifier market in North America contributed nearly one-third of the total market revenue in 2017 and is expected to maintain its dominance through 2025. This is attributed to the presence of large number of manufacturers, enactment of supportive policies and regulations, and proactive initiatives by regulatory bodies such as American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) and the U.S. Environmental Protection Agency (USEPA). On the other hand, Asia-Pacific is projected to witness the highest CAGR of 5.8% from 2018 to 2025, owing to deteriorating climatic conditions, rising purchasing power index, and rapid industrialization and urbanization.
Leading market players
The key market players analyzed in the report include Armstrong International, Inc., Condair Group, Carel INDUSTRIES S.p.A., Honeywell International Inc., Coway Co., Ltd., Mitsubishi Heavy Industries, Ltd. (MHI), Koninklijke Philips N.V., Skuttle Indoor Air Quality Products, Munters Pvt. Ltd., and United Technologies Corp. These market players have implemented various strategies such as partnerships, expansions, mergers & acquisitions, joint ventures, collaborations, and others to achieve a strong position in the industry.
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