The market for air purifier is expected to grow at a CAGR of around 9.4% from 2020 to 2027 and expected to reach the market value of around US$ 19.2 Bn by 2027.
Air Purifier or air cleaner is a device that removes contaminants from the air to improve indoor air quality. These are commonly marketed with special benefits for allergy sufferers and asthmatics, as well as in reducing or eliminating second-hand tobacco smoke. Additionally, some of the others benefits associated with the air purifier include elimination of harmful chemicals from indoor environments, neutralization of unpleasant odors, reduced chances of airborne diseases, improved sleep, elimination of hazardous asbestos particles, and can also increase life expectancy..
The rising airborne diseases and increasing pollution levels in urban areas are the primary reasons for the continuously increasing demand for air purifiers in the global market. The growing health consciousness, improving standards of living, and changing lifestyle preferences due to rising disposable income are additionally boosting the market value. The rising adoption of air pollution control equipment, especially in developing regions owing to the deteriorating indoor air quality, and rising health concerns and awareness among consumers about the benefits associated with air purifiers are further supporting the market value. Furthermore, the increasing marketing activities by the major manufacturers on the social media platforms about the potential benefits of purifiers in the present degrading environmental condition is further expected to create potential opportunity over the forecast from 2020 to 2027.
On the other side, high costs, as well as the need for regular maintenance associated with the devices, are likely to hinder growth over the forecast period from 2020 to 2027.
Covid-19 Impact on the Global Air Purifier Market
The global pandemic has badly affected the global economy and operations due to the high risk of viruses associated with close contact with people. As a result, almost all economies across the globe have announced nationwide lockdowns to combat the spread of viruses among the larger populations. These complete shutdowns have also stopped the commercial activities for a period of time that has affected the air purifier’s market negatively in the commercial sector, whereas given boost in the residential applications. Moreover, the commercials settings were forced to either close or cut down their expenses after the reopening of markets due to a lack of budget or capital.
Segment Instance of Global Air Purifier Market
Commercial Sector led the global air purifier market in 2019
Based on application, the commercial segment is having a potential revenue share in the global air purifier market and the segment is also projected to maintain its dominance over the forecast period from 2020 to 2027. The wide range of applicability in the commercial sector across retail shops, offices, healthcare facilities, hospitality, schools & educational institutions, laboratories, transport, and others. The expanding and developing commercial sector of developing economies across the globe is majorly contributing to the segmental market value. The rising focus towards the health of working staff and the stakeholders is additionally supporting the segmental market value.
High-efficiency Particulate Air (HEPA) segment dominate the global air purifier market in 2019
Based on technology, high-efficiency particulate air (HEPA) technology is leading the global air purifiers market. The ease of availability and high efficiency of HEPA is driving the segmental market value. It’s a type of mechanical air filter that forces air through a fine mesh that traps harmful particles such as pollen, dust mites, pet dander, and tobacco smoke from the installed area. These are made up of either plastic (PP+PET) or fiberglass.
Asia Pacific accounted for the maximum revenue share in the global market
In 2019, Asia Pacific dominated the air purifier market and the region is also projected to maintain its dominance over the forecast period from 2020 to 2027. The huge population base and continuously increasing air pollution are primarily supporting the dominating value of the region. The rapidly developing economies of the region are major revenue contributors, whereas the increasing number of major players and rising awareness about the health benefits associated with the air purifier installation in indoor settings are further contributing to the regional market value.
Key Market Players
The players profiled in the report include Carrier, Dyson, Honeywell International, Inc., IQAir, Koninklijke Philips N.V., LG Electronics, Panasonic Corporation, Samsung Electronics Co., Ltd., Sharp Electronics Corporation, Unilever PLC, and Whirlpool Corporation.
Market By Technology
High-efficiency Particulate Air (HEPA)
Market By Application
The market for air purifier is expected to reach a market value of around US$ 19.2 Bn by 2027.
The air purifier market is expected to grow at a CAGR of around 9.4% from 2020 to 2027.
Commercial is the leading segment by application in the air purifier market
High-efficiency Particulate Air (HEPA) is the leading segment by technology in the air purifier market
The rising airborne diseases, increasing pollution levels in urban areas, growing health consciousness, improving standards of living, and rising adoption of air pollution control equipment are some fo the prominent factors driving the market growth.
Carrier, Dyson, Honeywell International, Inc., IQAir, Koninklijke Philips N.V., LG Electronics, Panasonic Corporation, Samsung Electronics Co., Ltd., Sharp Electronics Corporation, Unilever PLC, and Whirlpool Corporation
Asia Pacific held the highest market share in the air purifier market