SAN FRANCISCO, Nov. 9, 2021 /PRNewswire/ -- The global dehumidifier market size is expected to reach USD 5.9 billion by 2028, according to a new report by Grand View Research. Inc. The market is anticipated to register a CAGR of 7.0% over the forecast period, from 2021 to 2028. The increasing demand for dehumidifiers, especially for industrial applications that require optimum temperatures and humidity levels, is the key factor contributing to market growth.
Key Insights & Findings:
Based on product, the chemical absorbent segment dominated the market in 2020 owing to the growing demand for desiccant dehumidifiers across industrial and commercial applications. The desiccants or chemicals used in the dehumidification process help reduce or achieve required humidity levels
In terms of technology, the warm condensation segment is expected to expand at the highest CAGR over the forecast period. This can be attributed to the benefits of the technology in keeping industrial environments dry without using any ventilation and saving energy
North America dominated the global market in 2020, thanks to the increasing demand from large industries, retail stores, and warehouses that operate in highly humid environments. The trend is expected to remain strong over the forecast period
Key vendors operating in the market are engaged in new product developments and establishing partnerships with distributors to extend their services across regions
Industries and sectors including food, packaging, clean rooms, operating rooms, and storage require relative humidity control across a range of processes. Air particles comprising different chemical substances tend to retain water and increase the humidity in processing and packaging facilities, affecting processes such as preservation, packaging, food conservation, and leading to a change in product composition. The need to control humidity levels across such areas has created a demand for dehumidifiers across industries. For instance, In September 2017, Airwatergreen's FLEX dehumidifiers were deployed on the Läckeby pressure staging station of Kalmar Vatten AB to prevent the corrosion of components worth 700,000 SEK on the pipes of the pressure staging station.
The popularity of dehumidifiers is also growing significantly across residential applications. Dehumidifiers are preferred in households primarily to prevent the growth of bacteria, mold, and other particles on ceilings and windows. The growth of bacteria and mold due to an increase in moisture content can put household residents' health at risk, driving the demand for dehumidifiers in the residential sector. However, the market suffered a decline in 2020 due to the disruptions caused across the supply chain amid the COVID-19 pandemic. Furthermore, product recalls due to overheating and spreading of fire also impacted the market growth. For instance, in August 2021, New Widetech, a Taiwan-based dehumidifier manufacturer recalled nearly 2 million of its dehumidifiers in the U.S. owing to overheating and burning hazards.
Grand View Research has segmented the global dehumidifier market based on product, technology, application, and region:
Dehumidifier Product Outlook (Revenue, USD Billion, 2018 - 2028)
Dehumidifier Technology Outlook (Revenue, USD Billion, 2018 - 2028)
Dehumidifier Application Outlook (Revenue, USD Billion, 2018 - 2028)
Dehumidifier Regional Outlook (Revenue, USD Billion, 2018 - 2028)
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Air Conditioning Systems Market – The global air conditioning systems market size was valued at USD 106.60 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028. The spread of the COVID-19 pandemic negatively impacted the demand for air conditioners in 2020 owing to decreased consumer spending.
Air Compressor Market – The global air compressor market size was valued at USD 32.02 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.4% from 2021 to 2028. With the burgeoning need to control the spread of the COVID-19 infection, governments around the world implemented strict national lockdowns in 2020.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.