In 2021, it’s anticipated that the market for air purifiers would surpass a US$ 10 Bn worth. Through 2031, it is anticipated to expand at a CAGR of almost 11.3 percent.
Over the past ten years, membrane technology has become more and more common in air purifiers. To achieve effective air filtration, membrane filters are created by combining an electrospinning/netting method with a receptive substrate design. Air purifiers with ePTFE and UPE membranes have astonishing efficiency and pressure decrease.
As health awareness rises, people’s understanding of their fitness and health is growing. It is widely known that air pollution plays a role in the development of respiratory diseases like acute respiratory infections and chronic obstructive pulmonary disease. Because modern lifestyles, urbanisation, and industrialisation cannot be sacrificed, initiatives to lower emissions and improve air quality are becoming more popular. The most effective way to remedy poor air quality appears to be with air purifiers.
Manufacturers have made numerous claims in the air purifier market in an effort to boost sales of their products and level the playing field for rival companies. In actuality, company statements frequently have an impact on customer buying habits.
To attract a larger audience of customers, manufacturers and brand owners have concentrated on enhancing the effectiveness and efficiency of their products. For instance, LG said that it will create a unique cover for the PuriCare Wearable Air Purifier in 2020 that would employ its UVnano sterilisation technology to kill 99.99 percent of germs in just 30 minutes.
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Air Purifier Market Outlook Compared to Growth Registered in 2016-2020
Due to the limits placed on it, the COVID-19 outbreak reduced sales possibilities and disrupted supply networks in a number of different businesses. However, the extraordinary pandemic epidemic also increased people’s concern for the air they breathe.
During COVID-19, the emphasis on cleanliness and maintaining a hygienic environment peaked, which aided in the air purifier market’s recovery from the pandemic-related limitations.
The need for air purifiers will increase over the next few years, particularly as customers show a greater desire to maintain a healthy indoor air quality. Due to this, the global air purifier market will grow at a rate of 11.3 percent between 2021 and 2031 as opposed to 8.5 percent between 2016 and 2020.
Over the projection period, a significant growth in demand for air purifiers for homes and businesses is expected. Leading air purifier manufacturers will have a greater online presence, which will help the market expand.
One of the primary growth drivers is projected to continue to be the high installation of air purifiers in schools, hospitals, and other organisations. The business sector will also see an increase in demand. The commercial sector is anticipated to generate more than 80% of the total income from air purifiers. This is because manufacturers are working harder than ever to diversify their economies and create new products.
Key Takeaways from the Air Purifier Market Study
- In terms of technology, HEPA filters account for a major share in the air purifier market. Demand in this category is expected to grow at a CAGR of 4.3% in 2020.
- Leading companies in the air purifier market will cover nearly 42% of sales.
- The U.S. will account for maximum demand in North America, sealing its dominance in the global market.
- Demand in the U.K. will grow at an impressive pace, pushing overall growth in the Europe market.
Impact of COVID-19 on the Market
Both the supply and demand sides are facing a number of difficulties as a result of the current pandemic outbreak. Supply networks have been severely hampered by the temporary limitations on movement imposed by regional governments. In addition, the shift in consumer spending from discretionary to essential items has had a detrimental effect on market expansion.
On the other hand, the shift from store-based to online retailing has been prompted by the change in customer purchasing patterns, enabling a greater market reach. This is anticipated to support the recovery of the world market.
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Who is Winning?
Leading air purifier manufacturers are concentrating on aggressive promotional tactics, ads, and new product introductions to fuel air purifier sales growth internationally.
Koninklijke Philips N. V., LG Electronics Inc., Xiaomi Corporation, Afpro Filters B.V., Dyson Ltd., Godrej Appliances, Condair Group AG, Daikin Industries, Ltd., Honeywell International Inc., Whirlpool Corporation, Japan Air Filter Malaysia Sdn. Bhd., Hitachi Limited, Dyson Technology Ltd., and Panasonic Corporation are a few of the major companies currently operating in the air purifier market.
Global Air Purifier Market by Category
By Technology Type:
- HEPA
- Electrostatic Precipitator
- Ion and Ozone Generators
- Activated Carbon
- Other Technologies
By Coverage Area:
- Below 250 Sq. Ft.
- 250-400 Sq. Ft.
- 401-700 Sq. Ft.
- Above 700 Sq. Ft.
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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