SAN ANTONIO, Jan. 26, 2021 (GLOBE NEWSWIRE) -- The United States portable air treatment systems (air purifier) market was valued at over $1.0 billion dollars in the U.S. in 2020. The market witnessed a growth rate of 57.0 percent in 2020 and is expected to witness a double-digit growth rate over the next two years, according to a new report by Verify Markets.
The COVID-19 pandemic has resulted in a surge in demand for air treatment systems. Companies have faced difficulties in coping with the sudden increase in demand. “At the height of the pandemic, several companies were out of stock within weeks and were unable to replenish their stock in time to keep up with the surge in purchases,” notes Shilpa Tiku, Chief Research Officer at Verify Markets.
The key drivers in the market include the COVID-19 pandemic, cross-state pollution, natural disasters, and consumer education programs. As the COVID-19 pandemic continues to impact everyday life in the U.S. and around the world, several recommendations have been instituted by various government agencies to help cope with the situation. Some of these include ensuring proper ventilation as well using air cleaners.
The key challenges in the market include lack of product awareness among consumers, increasing competition, and misleading claims. Despite some companies educating consumers about the importance of air quality and helping them pick the right air treatment system for their home, there is a continuing lack of knowledge in differentiation among the various products available in the market. Several companies have included product filters and comparison tools on their websites to help customers select the air treatment system that matches their requirements. Another challenge is the low barrier to entry in this market. There are several new companies entering the market, as well as large established companies with strong brand recognition and large marketing budgets. Additionally, there are international companies, mostly from Asia, that offer low-cost products. Increasing competition is affecting the ability of small and medium companies to differentiate their products.
Products priced under $150.00 were extremely popular in 2020. Retail sales was the most popular channel, however, e-commerce sales gained significant traction in 2020. Products that covered 301-400 square feet made up the majority of the sales by revenue in 2020.
The report provides an in-depth analysis of the overall air treatment systems market in the United States. The report also captures market information on market dynamics like growth drivers, restraints, market revenues and forecasts, technology trends, pricing trends, distribution trends, market share by coverage area, sales by application, and the competitive landscape. The base year for the study is 2020 and the forecasts are until 2027. Some of the key companies in this market include Helen of Troy Limited, Newell Brands Inc., Guardian Technologies, LLC, Plaston Holding AG Widnau, Dyson Ltd, Blueair AB, Sharp Corporation, LG Corporation, IQAir North America, Inc., Alen Corporation, Molekule, Inc., and others.
Verify Markets’ research methodology consists of extensive primary interviews with key participants in the industry along with analysis of secondary resources to validate information. For more information on this report and other research (including custom reports and consulting), contact info@verifymarkets.com or call +1 210.595.9687.