By the end of 2030, the global humidifier market, which is currently valued at about US$ 1.85 billion, is expected to grow at a CAGR of 5.8% and reach US$ 3.53 billion.
|Humidifier Market Size (2022)||US$ 1.85 Bn|
|Sales Forecast (2030)||US$ 3.53 Bn|
|Global Market Growth Rate (2022 to 2030)||5.8% CAGR|
|Share of Top 5 Industry Players||60%|
To enhance indoor air quality, humidifiers are being used more frequently in the commercial, residential, and industrial sectors. A recent report by Future Market Insights (FMI) indicates that the market for humidifiers will expand as a result of consumers’ growing awareness of the value of maintaining good indoor air quality. It is anticipated to increase at a CAGR of 5.6 percent between 2020 and 2030.
Numerous varieties of humidifiers, including ultrasonic, cold mist, warm mist, and others, are experiencing a surge in demand. Humidifier innovations are accelerating the market’s growth. The COVID-19 epidemic caused some inconveniences, but the humidifier business is still expected to develop significantly over the next few years.
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Some of the key takeaways from the report are highlighted below-
- Demand for cool mist humidifiers will remain high, however, sales recorded in the ultrasonic humidifier category is expected to be comparatively higher
- Portable humidifiers are likely to get more popular due to their ease of installation
- The online/ ecommerce segment will emerge as the most preferred sales channels
- Residential sector is likely to exhibit significantly high demand for humidifiers
- North America is expected to lead the global humidifier market followed by Europe during the forecast period
COVID-19 Impact Analysis
The market for humidifiers has had limited expansion as a result of the new coronavirus outbreak. Operations in the market have been hampered by a number of variables, including the closure of production facilities during lock down, a limited labour pool, supply chain interruptions, and other pandemic-related obstacles.
Due to limits put in place to contain the new coronavirus, sales via retail channels are clearly being hindered. As a result, manufacturers are refocusing their efforts on building their online presence. Therefore, notwithstanding the limitations highlighted above, the market is projected to experience increased consumer visitation across ecommerce platforms.
Who is Winning
The major market participants are concentrating on releasing cutting-edge goods as the humidifier industry continues to grow steadily.
For instance, Philips has introduced a sophisticated humidifier with nano cloud technology that harnesses the natural evaporation process to humidify indoor air.
In the past year, Condair introduced their new Condair EL electrode boiler steam humidifier, which is simple to install and offers dependable steam humidification. Additionally, they have announced the publication of their CIBSE-approved CPD course on dehumidification and drying psychometrics for October 2020, which will include instruction on the fundamentals of operation for both desiccant and condensing dehumidifiers.
Some of the key market players giving tough competition are Honeywell International Inc., Dyson Ltd., De’Longhi S.P.A, BONECO AG, LG Electronics, and others.
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Humidifier Industry Survey
Humidifier Market by Humidifier Type:
- Warm Mist Humidifiers
- Cool Mist Humidifiers
- Ultrasonic Humidifiers
Humidifier Market by Installation Type:
- Fixed Humidifiers
- Portable Humidifiers
Humidifier Market by Sales Channel:
- Retail Stores
Humidifier Market by End User:
- Residential Humidifiers
- Commercial Humidifiers
- Industrial Humidifiers
Humidifier Market by Region:
- North America Humidifier Market
- Latin America Humidifier Market
- Europe Humidifier Market
- East Asia Humidifier Market
More Valuable Insights on Humidifier Market
Providing historical data for the years 2015–2019 and forecast information for the years 2020–2030, Future Industry Insights’ most recent report offers an unbiased study of the worldwide humidifier market. Warm mist humidifiers, cool mist humidifiers, ultrasonic humidifiers, and others), installation type (fixed, portable), sales channel (online/ecommerce, retail stores (physical)), end user (residential, commercial, and industrial), and six major regions are used to segment the market in order to understand its potential, growth, and scope (North America, Latin America, Europe, South Asia, East Asia, Oceania, MEA).
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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