As the Planet Witnesses Increase in Pollution, Opportunities Arise for Air Purification Systems Market Players: TMR
- Over the forecast period, air purification systems market would chart a growth rate of 11.2%
- Increasing industrialization and urbanization is leading to deterioration in air quality, driving demand for air purification systems. Emerging economies to present themselves as major markets for these products over the assessment period
ALBANY, New York, March 19, 2020 /PRNewswire/ -- Set to grow at a CAGR of 11.2% from 2019 to 2027, the global air purification systems market will see an increase in market worth from USD 8.45 bn. in 2018 to USD 21.9 bn. by the end of the stated period. A number of factors underscore growth in the market, the most prominent being rapidly deteriorating air quality.
As per Transparency Market Research, "Rapid industrialization marks economic growth worldwide, particularly in the developing regions. This leads to increase in pollution level, hampering air quality. As health issue emerge due this factor, demand for air purification systems sees an upward rise."
Key Findings of Global Air Purification Systems Market:
The exhaust filtration segment is witnessing growth due to increase in demand from automotive sector
Technology-wise, HEPA purifiers will be most useful owing to very high efficiency – remove 99.97% pollutants
Asia Pacific to be at the forefront of growth in the global air purification systems market over the forecast period
Explore the latest study on global air purification systems marketunder the title: Air Purification Systems Market (Technology - HEPA Purifier, Ionic Purifier, Electrostatic Precipitator, UV Light Purifier, Activated Carbon Purifier; Impurity - Oil and Mist Collectors, Smoke Collectors, Fume Extraction, Exhaust Filtration; End use - Residential, Commercial, Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027 at: https://www.transparencymarketresearch.com/air-purification-systems-market.html
Key Drivers of Global Air Purification Systems Market:
Growth in global air purification systems market is owed to a number of factors, as per Transparency Market Research. Major trends and drivers, as identified by the company, are outlined below:
Indoor air quality is deteriorating rapidly, generating demand for air purification system over the forecast period
A number of health issues related to poor air quality are witnessing an increase in incidence, resulting in higher demand for purifiers
Increase in construction volumes worldwide in general, and China and India in particular, to contribute to growth in the market
Demand from industrial sector to be high - owing to reduction in efficiency of plant machinery caused by dust, and strict emission norms emerging in a number of countries
Consumer awareness regarding poor air quality and its negative impact on health is generating demand in the market
Regional Analysis of Global Air Purification Systems Market:
Asia Pacific region to continue holding a sizeable portion of the market share; the region is set to chart a significant growth rate over the forecast period
Growth charted by APAC to be a result of rapid urbanization and industrialization activities marking the region
Europe, and North America to register moderate growth rate from 2019 to 2027
Analyze air purification systems market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Competitive Analysis of Global Air Purification Systems Market:
Key players in the market include Camfil Group, 3M Company, Philips Electronics N.V., Panasonic Corporation, Mann+Hummel, LG Electronics Inc., SPX Flow, Clarcor Inc., Honeywell International Inc., and Whirlpool Corporation.
Technological advancement is at the forefront of growth strategies; focus to be on energy efficiency and optimum purification over the forecast period
Other strategies of growth often deployed by market players include mergers and acquisitions, and operational expansion
Industrial Air Purification Market– The global industrial air purification market is growing due to various factors such as environmental awareness, industrialization, and infrastructure. Increasing number of coal, cement, chemical, and thermal industries are degrading the quality of air.
Water Purification Products Market – The global water purification products market is expected to expand at a rapid pace during the forecast period. Factors such as increase in awareness about water safety and quality, scarcity of potable water resources, increase in health concerns are expected to boost the water purification products market.
Hospital Disinfectant Products Market – The global hospital disinfectant products market was valued at US$ 10,845.74 Mn in 2017. It is expected to reach US$ 17,192.96 Mn in terms of revenue by 2026, expanding at a CAGR of 5.3% from 2018 to 2026. The market in Asia Pacific is likely to expand at a rapid growth rate during the forecast period from 2018 to 2026.
Water Purifier Market – Increase in the demand for automated fire control systems is the major driver driving the market for the military fire control systems market during the estimate period of 2017 – 2025. Development of consolidated fire control systems is one of the key factor fuelling the demand of the military fire control systems market in the coming years.
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About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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