Dublin, Aug. 05, 2022 (GLOBE NEWSWIRE) -- The "Smart Air Purifiers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Smart Air Purifiers Market to Reach US$12.9 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Smart Air Purifiers estimated at US$8.5 Billion in the year 2022, is projected to reach a revised size of US$12.9 Billion by 2026, growing at a CAGR of 11.2% over the analysis period.
In addition, rising awareness regarding health effects and consequences of air pollution is driving various companies to develop next-generation air purifiers. The market growth is also facilitated by increasing adoption of connected home automation solutions that rely on the Internet of Things for remotely controlling and monitoring home appliances. Innovative features such as motion sensors and user friendly designs with simple programming platforms, along with the ability to control from different locations inside the home through smart connectivity is expected to drive robust demand for smart air purifiers. Some of the latest models also leverage artificial intelligence for predicting user preferences on the basis of past data. The COVID-19 pandemic has enabled air purifiers to evolve from luxury to an essential commodity. Technological progress coupled with integration of new air purification technologies including HEPA air purifiers, activated carbon purifiers, ionic filters and photocatalytic purifiers is expected to further propel the demand for smart air purifiers.
The U.S. Market is Estimated at $2.4 Billion in 2022, While China is Forecast to Reach $2.6 Billion by 2026
The Smart Air Purifiers market in the U.S. is estimated at US$2.4 Billion in the year 2022. The country currently accounts for a 28.39% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.6 Billion in the year 2026 trailing a CAGR of 13.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.5% and 9.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.5% CAGR while Rest of European market (as defined in the study) will reach US$2.8 Billion by the end of the analysis period. Growing product awareness, rising incidence of allergies caused by seasonal changes such as high pollen count in air, strong focus on environmental concerns, and stringent regulatory standards related to Clean Air Delivery Rate (CADR), among others, represent key growth drivers in developed regions. Important factors propelling growth in the Asia-Pacific region include rising levels of pollution driven by growing population, industrialization and urbanization, underpenetrated and unpenetrated nature of the market, and heightened concerns with regard to health.
High-Efficiency Particulate Air (HEPA) (Technique) Segment to Reach $10.5 Billion by 2026
In the global High-Efficiency Particulate Air (HEPA) (Technique) segment, USA, Canada, Japan, China and Europe will drive the 11.08% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$4.4 Billion will reach a projected size of US$9.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$910.3 Million by the year 2026.
Select Competitors (Total 117 Featured):
- Alen Corporation
- Americair Corporation
- Blueair, Inc.
- COWAYCO.,LTD
- Dyson Ltd.
- Honeywell International Inc.
- IQAir North America Inc.
- Koninklijke Philips N.V
- LG Electronics
- Samsung Electronics Co. Ltd.
- Sharp Electronics Corporation
- Sunbeam Products, Inc
- Whirlpool Corporation
- Winix Inc.
- Xiaomi Corporation
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rising Air Pollution Levels Trigger Demand for Smart Air Purifiers
- Emphasis on Maintaining Ambient Indoor Air Quality Augurs Well for Market Growth
- Rising Incidence of Asthma and Air Borne Allergies Provide the Perfect Platform for Market Expansion
- Proliferation of Smart Homes at an Accelerating Pace Throws Abundant Opportunities
- Combination Technologies Widen Functionalities
- UV Light Filtration Technology for Smart Air Purifiers
- Air Purifiers are Getting Smarter, Smaller, and More Innovative
- Innovations and Product Advancements Remain Core to Market Expansion
- Influx of New Products Impels Smart Air Purifiers Market
- Select New Product Launches
- Eliminating Odors and Smoke Remain Key to Product Success
- Vulnerability of the Expanding Aging Population to Air-borne Allergies and Health Risks A Weighty Growth Driver
- Residential Replacements: An Important Driver
- E-Retailing Expands Opportunities
- Regulatory Standards Drive Sales of Air Purification Equipment
- Exponential Increase in Urban Population Expands Opportunities
- Rising Affluence of Middle Class Consumer Segment
- Common Problems in Air Purifiers
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/76m229
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