Introduction
The global air purifier market has soared in value, reaching USD 10,502.2 million in 2021, and it’s projected to scale even greater heights, hitting USD 24,249.1 million by 2027. A robust Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period underlines the market’s strong potential. Additionally, the market volume, totaling 28,957.3 million units in 2021, is on track for a 9.4% CAGR over the anticipated period.
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Catalysts for Growth
The surge in airborne diseases and urban pollution levels is anticipated to be a driving force behind the market’s expansion. The increasing emphasis on health, coupled with improved living standards and disposable incomes, is set to propel market growth. Lockdown measures implemented in response to the COVID-19 pandemic have fueled sales of household equipment, including air purifiers, as people seek healthier living environments.
Factors Influencing Growth
Several factors, such as shifting lifestyle preferences, deteriorating indoor air quality, mounting health concerns, and heightened consumer awareness of air purifier benefits, are expected to drive market expansion. However, the adoption of air purifiers may be limited by their relatively high upfront costs and ongoing maintenance expenses.
Growth Drivers
Diverse Applications: Air purifiers find applications in a range of settings, including hospitals, workplaces, hotels, schools, and more. They are used to eliminate allergens, airborne pathogens, and odors, creating healthier indoor environments. Notably, their demand surged during the COVID-19 pandemic, particularly in healthcare institutions.
Industrial Adoption: Various industries, including food and beverage, printing, power generation, and manufacturing, utilize air purifiers to eliminate hazardous particles and pollutants. The heightened awareness of health risks associated with indoor pollutants has driven demand for air purifiers in homes as well.
Segment Overview
Type:
- HEPA
- Activated Carbon
- Ionic Filters
- Cold Catalyst
- Dehumidifier
- Ozonizer
HEPA filters dominated the market with over 30% market share in 2021.
Application:
- Commercial
- Residential
- Industrial
The commercial segment is poised to surpass USD 10,502.2 million by 2025.
Regional Insights
Asia Pacific leads the global market with over 35% market share in 2021, generating USD 10,984.3 million in revenue. The region’s growth is boosted by product launches that address the demand for cleaner indoor air quality.
Competitive Landscape
Key players like Asahi Glass Co., Ltd, Compagnie de Saint-Gobain S.A, and Nippon Sheet Glass Co. Ltd, collectively command around 70% of the market share. Collaborations and product launches are central to their strategies to remain competitive. For instance, Panasonic’s introduction of the WhisperAir Repair spot air purifier caters to consumers seeking healthier indoor living solutions.
Conclusion
The global air purifier market is on a clear path of expansion, driven by escalating health concerns, rising urban pollution levels, and increasing awareness of the benefits of cleaner indoor air. As technology advances and consumers prioritize their well-being, the air purifier market holds immense potential. While challenges like high costs may impact adoption rates, the market’s trajectory remains promising, signaling a future where clean, purified air is a priority for households, industries, and commercial spaces alike.
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Table of Contents
1. Strategic Direction
- Insights and strategic advice for decision-makers, aiding in product advancements.
2. Comprehensive Analysis
- Qualitative and quantitative analysis considering economic and non-economic aspects.
3. Growth Opportunities
- Identification of high-growth geographies and market categories.
4. Competitive Landscape
- Analysis of top market rivals, their strategies, and market positions.
5. Detailed Company Profiles
- In-depth information about major market participants.
6. Future Market Outlook
- Trends, drivers, challenges, and predictions for upcoming market dynamics.
7. Industry Analysis
- Porter’s Five Forces Analysis for industry understanding.
8. Value Chain Insights
- Understanding of the main processes and actors in the creation and supply of the product.
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