15-Jan-2020: The global air purifier
market size is projected to reach USD 14.79 billion by
2025, according to a new report by Grand View Research, Inc. expanding at a
CAGR of 10.7% over the forecast period.
Rising prevalence of health problems related to pollution in the
emerging economies is forecast to drive the demand for the industry over the
forecast period.
Increasing airborne
diseases and rising pollution level are anticipated to be the key factor behind
the growth of the market over the forecast period. A burgeoning population,
improved standard of living and increased health consciousness worldwide has
been fueling the demand for air purifiers. Several international organizations
have set standards and regulations as well as issued guidelines, which are expected
to drive the industry.
Air purifiers are
now being considered a necessity in developed countries; however, they are
considered a luxury good in developing countries such as India. The overall
cost associated with the purchase and maintenance of these products is high,
which proves to be a deterrent for many consumers and acts as a challenge for
industry growth.
Key challenges
faced by the market are the emission of ozone gas which affects the lungs,
causing shortness of breath, and chest pain among other problems. A few
international boards & governments have declared retraction on indoor
cleaning devices which produce ozone gas beyond the limit.
Asia Pacific
emerged as the leading market with 34.0% revenue share in 2018 and dominated
the industry due to several factors including rapid urbanization and
industrialization, followed by North America and Europe. North America is
expected to surpass USD 4.00 billion by 2025 owing to various environmental
protection laws and increasing awareness to curb pollution.
In
depth research report on Air Purifier Market
Further key findings from the report suggest:
·
In terms of value, the air purifier market is anticipated to
reach USD 14.79 billion by 2025, on account of factors such as rising health
concerns, deteriorating indoor air quality, and changing lifestyle preferences
among consumers
·
HEPA technology is expected to dominate the market by 2025.
The segment is expected to lose its market share to the ionic filter and the
activated carbon segments owing to new product innovation and growing R&D.
·
Asia Pacific held the largest share in 2018 and is
anticipated to register significant growth over the next seven years owing to
rising demand for HEPA purifiers on account of its enhanced efficiency and
effectiveness.
·
The air purifier market in the U.S. is anticipated to reach
USD 3.23 billion by 2025. Increasing consumer consciousness regarding health
issues & improved living standard has facilitated manufacturers to increase
production of products for various applications.
·
The global market is fragmented with the presence of a
numerous market participants. However, the market is dominated by big giants
such as Panasonic Corporation, Unilever PLC, Honeywell International, Inc., and
LG Electronics, Inc.
Grand View Research
has segmented the global air purifier market on the basis of technology,
application, and region.
Air Purifier Technology Outlook (Revenue, USD Million, 2014 -
2025)
·
High Efficiency Particulate Air
·
Activated Carbon
·
Ionic Filters
·
Others
Air Purifier Applications Outlook (Revenue, USD Million, 2014
- 2025)
·
Commercial
·
Residential
·
Industrial
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About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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