BANGALORE, India, July 22, 2021 /PRNewswire/ -- The Air Purifier Market is Segmented by Type (HEPA, Activated Carbon, Static Electricity, Ion and Ozone Generator, Others), by Application (Residential, Commercial, Others). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Business & Industrial Category.
The global Air Purifier market size is projected to reach USD 12410 Million by 2027, from USD 9402.5 Million in 2020, at a CAGR of 4.0% during the forecast period 2021-2027.
Major factors driving the growth of the air purifier market are:
Increasing airborne diseases and pollution levels are expected to drive the air purifier market.
Growing awareness about the harmful effects of air pollution along with rising disposable income is expected to increase the purchase of air purifiers, thereby increasing the air purifier market.
Recent COVID-19 outbreak is expected to further boost the air purifier market as stay-at-home and work-from-home norms have come into play.
TRENDS INFLUENCING THE GROWTH OF THE AIR PURIFIER MARKET :
As air pollution levels rise, governments throughout the world are allocating funds to combat the problem, which bodes well for air purifier sales around the world. Growth prospects were particularly promising in the United States, the United Kingdom, India, and China, which are among the world's major polluters. Moreover, air pollution control efforts carried out by governments and awareness campaigns carried out by non-governmental organizations (NGOs) around the world are likely to promote market growth over the forecast period.
Furthermore, during the COVID-19 pandemic, demand soared as hospitals increased their spending on high-quality air purifiers to ensure that the treatment area was pathogen-free.
Increasing awareness about air pollution is expected to increase the growth of the air purifier market. The increase in airborne diseases such as irritation, asthma, and cancer and increased exposure of people to air pollutants and degrading air quality index has pushed people to adopt air purifiers. Furthermore, HEPA filtering technology has seen a considerable upsurge in demand as residential air purifiers using HEPA technology eliminate air pollutants and smoke from the home.
Based on type, HEPA is projected as the most lucrative segment. HEPA filters are extremely effective in trapping airborne particles such as pollen, dust, smoke, and biological pollutants. HEPA filters' superior quality and dependability in removing airborne particles are projected to boost product adoption in the global market.
Based on application, The commercial application segment is expected to be the most lucrative. Hospitals, offices, hotels, educational institutions, movie theatres, retail malls, conference centers, and other recreational 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 particles, smoke, and odor from the air, thereby improving the air quality.
Based on region, Because of higher disposable income, major industrialization, environmental protection regulations, and increased awareness of pollution, North America holds a considerable market share. However, the Asia-Pacific region, which is dominated by China, India, and South Korea and has a low prevalence of air purifiers, is expected to be the most lucrative region during the forecast period.
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- The global Household Air Purifiers market size is projected to reach USD 15070 Million by 2027, from USD 8969 Million in 2020, at a CAGR of 7.7% during 2021-2027. Global Household Air Purifiers key players include Sharp, Panasonic, Philips, Daikin, etc. Global top four manufacturers hold a share over 40%.
- In 2020, the global Residential Air Purifiers market size was USD 7213.2 Million and is forecast to USD 9889.5 Million in 2027, growing at a CAGR of 5.4% during the 2021-2027. The global residential air purifiers industry mainly concentrates in North America, Europe, China and Japan. The global leading players in this market are Sharp, Panasonic, Philips, Daikin, Midea, which accounts for above 60% of total production value.
- The global Automotive Air Purifier market size is projected to reach USD 1501.7 Million by 2027, from USD 880.8 Million in 2020, at a CAGR of 9.3% during 2021-2027.
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