New York, April 28, 2023 (GLOBE NEWSWIRE) -- Market.us forecasts that the Residential Air Purifier Market will attain a registered CAGR of 5.9% from 2023 to 2032, resulting in a projected market size of over USD 7.2 billion by 2032, up from USD 4.1 billion in 2022.
The goal of the quickly growing global residential air purifier market is to improve household indoor air quality. Residential air purifiers are equipment used to remove allergens and pollutants from the air, such as smoke, pollen, dust, and pet dander. Asthma and allergy symptoms, the danger of respiratory infections, and the need for a healthier living atmosphere all benefit from the use of residential air purifiers in homes and apartments.
To get additional highlights on major revenue-generating segments, Request a residential air purifier market sample report at https://market.us/report/residential-air-purifiers-market/request-sample/
Key Takeaway:
- By type, the Residential Air Purifier Market was dominated by the standalone/portable segment in the year 2022.
- By technology, the market is dominated by HEPA technology owing to the HEPA technique removing all unwanted air particles.
- By end-user, the hospitals and clinics segment dominated the largest market share.
- In 2022, Asia Pacific dominated the market with the highest revenue share of 42%.
- APAC is expected to grow at a greater pace owing to more people in this region becoming aware of health risks related to air pollution.
Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 4.1 billion |
| Market Size (2032) | USD 7.2 billion |
| CAGR | 5.9% |
| Asia Pacific Revenue Share | 42.0% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Factors affecting the growth of the Residential Air Purifier industry
There are a number of factors that have an impact on the growth of the residential air purifier industry. Some of them are as follows;
- Increased Awareness of Indoor Air Pollution: There has been an uptick in awareness regarding indoor air pollution, leading to an uptick in demand for air purifiers. People are becoming more cognizant of the detrimental effects poor quality air can have on their health and are actively searching for solutions to improve what they breathe.
- Health Concerns: Air pollution has been linked to several health issues, such as respiratory problems, allergies, and asthma. With growing concerns about these ailments, people are more willing to invest in air purifiers to enhance their indoor air quality.
- Urbanization: As more people move to cities, pollution levels are rising. This poor air quality has fuelled demand for air purifiers, particularly in densely populated cities where outdoor pollutant levels are high.
- Technological Advancements: Developments in air purification technology have made air purifiers more effective and affordable, enabling more people to afford them and improving their homes' air quality.
- Government Regulations: Governments around the world are increasingly implementing regulations to control air pollution levels. These initiatives have spurred demand for air purifiers, particularly in regions with high pollution concentrations.
To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/residential-air-purifiers-market/#inquiry
Top Trends in Residential Air Purifier Market
Several trends are impacting the global residential air purifier market, such as:
- Integration with Smart Home Technology: Air purifier manufacturers are responding to the growing trend towards connected homes by integrating their products with advanced smart home features like remote monitoring and control, voice-activated controls, as well as integration with other connected home devices. This has allowed them to offer even more value to their customers.
- Development of Advanced Filter Technologies: Manufacturers are always working on new and more sophisticated filter technologies to increase the efficiency of air purifiers. This includes HEPA filters, activated carbon filters, and UV-C light technologies among others.
Market Growth
The Residential Air Purifier industry has seen steady growth over the last several years and this trend is predicted to continue. The market is being fuelled by advances in air purifier technology that make devices more effective and affordable. Smart air purifiers that can be controlled using a smartphone app also fuelled market growth. Geographically speaking, the Asia Pacific region is expected to experience the fastest-growing residential air purifier market due to factors such as rapid urbanization, rising disposable incomes, and increasing air pollution levels in countries like India or China.
Regional Analysis
Asia Pacific is the leading region for residential air purifiers due to rising air pollution levels, particularly in countries like China and India. With a market share of 42% in this region, demand is expected to surge over the coming years as middle classes expand across these nations and more people become aware of health risks related to air pollution. Due to the increasing awareness of indoor air pollution and the availability of high-tech purifiers, North America is a significant market for residential air purifiers. Due to the rising demand for energy-efficient and environmentally friendly air purifiers, Europe is another significant player in this market.
Have Queries? Speak to an expert or Click Here To Download/Request a Sample
Market Drivers
- Concern over Air Pollution: With global urbanization and industrialization increasing, air pollution has become a major issue. As such, there has been an uptick in demand for home air purifiers over recent years.
- Rising Awareness of Health Benefits: The global residential air purifier market is being driven by rising awareness of the health advantages associated with air purifiers. As people become more informed about the importance of breathing pure air, demand for these devices in homes is expected to increase exponentially.
- Technological Advancements: The residential air purifier market has seen tremendous growth due to the introduction of cutting-edge technologies like HEPA (High-Efficiency Particulate Air) filters and activated carbon filters, which are more effective at ridding indoor air of allergens and contaminants.
Market Restraints
- High Cost: One major challenge facing the residential air purifier market is its high price point. High-end models can be quite pricey, making it difficult for some consumers to justify purchasing them.
- Limited Awareness in Developing Regions: Although air purifiers are becoming more well-known globally, they remain little understood in developing nations. This lack of comprehension is hindering market expansion in these regions.
Market Opportunities
- Expansion into developing regions: Although developed regions currently dominate the market, developing regions have a lot of room for growth. As awareness of the benefits of air purifiers increases in these locations, demand for residential air purifiers is expected to increase significantly.
- Technological Advancements: The rapid advancements in modern technologies offer manufacturers a chance to innovate and design more efficient air purifiers, potentially leading to the introduction of more affordable yet effective models, further fuelling demand for air purifiers.
Grow your profit margin with Market.us - Purchase This Premium Report at https://market.us/purchase-report/?report_id=29246
Report Segmentation of the Residential Air Purifier Market
Type Insight
With a 65.5% market share, the standalone/portable segment dominates the market. Due to their affordability and simplicity of use, standalone/portable air purifiers are the most widely used kind in homes. These purifiers can be placed in any room and easily moved between locations as needed. Portable air purifiers come in varying sizes and can be tailored to suit individual needs. They typically feature filters like HEPA, activated carbon, UV-C, and ionizers for extra filtration. In-duct air purifiers are installed within a building's HVAC (heating, ventilation, and air conditioning) system to clean the air as it passes through it, providing whole-house purification.
Technology Insight
HEPA technology is the most lucrative in the residential air purifier market. The market share of HEPE (High-efficiency Particulate Absorbing) is 40%. Pollen, dust, and pet dander are examples of the pollutants that HEPA filters are made to capture. According to studies, HEPA filters can capture 99.97% of airborne particles measuring 0.3 microns or bigger. Filters made of activated carbon are intended to get rid of doors, volatile organic compounds, and other airborne pollutants. Ionic filters use an electrostatic charge to trap particles and pollutants in the air. They function by emitting negatively charged ions that attach to airborne particles, making them too heavy to remain in the air and forcing them down either to fall to the ground or be trapped by a filter.
Distribution Channel Insight
Right now, online platforms are in a position of dominance. Online platforms, such as e-commerce websites, are becoming an increasingly popular distribution avenue for residential air purifiers. Customers can easily browse and compare products from different brands before making a purchase online. Online platforms provide convenience, as customers can purchase products from the comfort of their own homes at competitive prices. A vast array of items is available on these platforms. Offline stores, such as home appliance stores, department stores, and specialty shops have long been the traditional distribution channels for residential air purifiers.
Recent Development of the Residential Air Purifier Market
- In 2021: Coway Co., Ltd. launched the Airmega 250 air purifier, which features a washable pre-filter, a Max2 filter, and a HEPA filter that captures up to 99.97% of airborne particles.
- In 2020: LG Electronics Inc. launched the LG PuriCare air purifier, which uses a four-stage filtration system and features a clean booster function that automatically adjusts the fan speed based on the level of air pollution.
For more insights on the historical and Forecast market data from 2016 to 2032 - download a sample report at https://market.us/report/residential-air-purifiers-market/request-sample/
Market Segmentation
Based on Type
- Standalone/Portable
- In-Duct
Based on Technology
- HEPA
- Activated Carbon
- Ionic Filters
- Electrostatic Precipitators
- Ultraviolet
- Other Technologies
Based on Distribution Channel
- Online Platforms
- Offline Stores
By Geography
- North America
-
- The US
- Canada
- Mexico
- Western Europe
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
-
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
-
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
There are many players operating in the highly competitive global residential air purifier market. To gain an advantage, businesses compete on product features, design, price, and brand reputation. To stay ahead of competitors, manufacturers are investing in research and development to create new technologies as well as marketing and advertising to raise brand awareness and promote their items. Residential air purifier demand is expected to increase competition over the upcoming years, so businesses will prioritize developing cutting-edge products while enlarging their distribution channels to reach more consumers.
Some of the major players include:
- Daikin industries ltd
- Sharp Corporation
- Honeywell International Inc
- Panasonic Corporation
- LG Electronics
- Koninklijke Philips N V
- Dyson
- SAMSUNG
- Whirlpool
- Blueair
- Hoover
- Other Key Players
Browse More Related Reports:
- Air purifier market size was estimated at USD 13.97 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.3%
- Automotive air purifier market is valued at USD 1.43 billion in 2021, and it is expected to reach USD 2.60 billion by 2027, registering a CAGR of 10.5%
- Automotive in-vehicle air purifier market was valued at USD 3.6 billion in 2020 and is projected to reach USD 9.7 billion by 2030, growing at a CAGR of 10.8% from 2021 to 2030.
- Commercial smart air purifier market size was valued at USD 5.5 billion in 2020 and is projected to reach USD 14.4 billion by 2030, growing at a CAGR of 10.1%.
- Laboratory Water Purifier market represented USD 19.43 Bn in 2022 and will anticipate around USD 64.91 Bn by 2033 projected around CAGR of 11.59% amid forecast frame of 2023 to 2033.
About Us:
Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.
Follow Us on LinkedIn | Facebook | Twitter
Our Blog:
