The Global Air Purifier Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Global Air Purifier market is segmented by Type (Dust and Pollen, Smoke and Fume); Technology (HEPA, Activated Carbon, Ionic Filters and Others); Application (Residential, Commercial and Industrial) Region (North America, Europe, APAC, ROW).
Introduction
An air purifier is a device that removes contaminants from the air and improves air quality. Air purifiers are also considered beneficial for people with allergies and asthmatics, and at reducing or eliminating second-hand tobacco smoke.
They comprise of a filter, or several filters, and a fan that sucks in and circulates air. However, it also depends on the level of technology these devices use that determine their ability to remove particles.
Growing concern about air pollution, rising rates of hazardous elements into air due to increasing prevalence of industrialization and motorization in urban areas, increasing occurrences of airborne diseases are the major factors that foster market demand.
Table of Contents
Market Overview
The Global air purifier is expected to grow to $18.10 billion by 2025.
Growth momentum is expected to accelerate during the forecast period with 10.27% CAGR.
Growing health consciousness, improving standards of living, and rising disposable income are expected to fuel the market growth.
APAC is dominating the market due to rising smog and air pollution cases, especially in countries such as India and China, have increased the adoption of air purifiers
Key Trends
Stringent government regulations and standards for indoor air quality is projected to drive the industry over the forecast period
Increasing research and development across the globe especially, on finding air purifier that mitigate the effect of coronavirus is expected drive the demand.
Key Market Players
Some of the key players in the market are Koninklijke Philips, Honeywell International, Unilever, IQAir, Samsung Electronics, Sharp Electronics Corporation.
The market is highly competitive due to the presence of both multinational and regional or local manufacturers. The market has been witnessing an increasing trend of organic growth. Companies in the market are focusing on expanding their product portfolio with enhanced features.
Growth Drivers and Challenges
Growing awareness about the adverse effects of air pollution on health is primary driver of the market growth
Increasing awareness of healthy lifestyle and improving standards of living, rising disposable income are driving the market growth.
High cost of adoption and maintenance of air purifiers is anticipated to restrain the demand
In many underdeveloped and emerging economies, air purifiers are perceived as a luxury item which is limiting the market growth