NEWARK, Del, Nov. 01, 2022 (GLOBE NEWSWIRE) -- The global air purifier market is predicted to reach a value of US$ 26.0 Bn in 2032, with sales growing at a healthy CAGR of 7.8% from 2022 to 2032. Valued at US$ 11.5 Bn in 2021, the target market is likely to reach an estimated US$ 12.3 Bn in 2022. The popularity of energy-efficient products is anticipated to augment the sales of the air purifiers market during the forecast period.
The air purifier or an air cleaner, is used to remove contaminants from the air and enhance the indoor air quality. It gets rid of any unpleasant smells, pollen, dust in the air, smoke, and dangerous airborne chemicals. Air purifiers further reduce the possibility of contracting any airborne diseases. These tools are usually sold as being advantageous to allergy sufferers and asthmatics as well as being effective controllers of second-hand tobacco smoke. These aspects of an air purifier drives its sales in the global market.
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The leading growth drivers of the air purifier market include the rising demand for energy-efficient products and the introduction of smart air purifiers. Other factors such as product innovation and the launch of new product with upgrades like the capacity to deliver freshness and the improved ability to eliminate offensive odors also fuel the target market growth.
In the recent years, consumer electronics are certified with ratings that reveal electricity-saving. This trend has gained momentum in the air purifier market as well. Many consumers are looking for popular energy ratings to decide on their final purchase. Since a higher the rating increases the scope for sales, manufacturers, too, are driven to offer latest technologies and upgraded features to offer energy-efficient air purifier. In addition to this, the emergence of smart air purifier further augments the sales of the target market during the forecast period.
“A growing demand for smart home appliances coupled with the popularity of energy-efficient products will likely fuel the global growth of the air purifier market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Emergence of smart air purifiers will facilitate market expansion.
- High maintenance cost may stunt the market growth.
- High demand for smart home appliances will drive the target market growth in the U.K.
- India’s air purifier market will grow at a moderate CAGR of 5.5%.
- Driven by demand for advanced consumer electronics, the air purifiers market in the U.S will grow at a CAGR of 6.9%.
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Competitive Landscape
Koninklijke Philips N. V, LG Electronics, Xiaomi Corporation, Afpro Filters B.V., LG Electronics Inc., Dyson Ltd., Godrej Appliances, Condair Group AG, Daikin Industries, Ltd., Honeywell International Inc., Whirlpool Corporation, Japan Air Filter Malaysia Sdn. Bhd. and Panasonic Corporation among others are some of the major players in the air purifier market profiled in the full version of the report.
Key market players are concentrating on intensifying research and development activities to introduce innovative products into the market. These firms also employ aggressive marketing strategies and focus on raising brand consciousness to retain their top market rankings.
More Insights into Air Purifier Market Report
In its latest report, FMI offers an unbiased analysis of the global air purifier market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of technology type (HEPA, electrostatic precipitator, ion and ozone generators, activated carbon, other technologies), CADR (air purifier for dust, air purifier for smoke, air purifier for pollen), end user (residential, commercial, industrial), coverage area (air purifier for below 250 sq. ft., air purifier for 250-400 sq. ft., air purifier for 401-700 sq. ft., air purifier for above 700 sq. ft.), sales channel (direct sales air purifier, indirect sales air purifier (hypermarkets/ supermarkets, discount stores, specialty stores, online retail)), and region.
According to the latest FMI reports, based on segmentation, the HEPA technology segment will retain popularity during the observation period. This segment will account for a 39.5% share in the air purifier segment. In terms of end-user, the commercial segment is anticipated to lead the target market growth accounting for more than 54.5% of the global revenue in 2022.
Based on region, the air purifier market in the United States will register remarkable growth during 2022-2032. Technological enhancements in consumer electronics is anticipated to stimulate growth opportunities for the target market in this country. The air purifier market in the U.S., will thus, register an estimated CAGR of 6.9% during the forecast period. Apart from the U.S., India and the U.K., too, will witness notable growth during the projected period.
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Key Segments Covered In the Air Purifier Industry Analysis
Air Purifier Market by Technology Type:
- HEPA
- Electrostatic Precipitator
- Ion and Ozone Generators
- Activated Carbon
- Other Technologies
Air Purifier Market by End-Use:
- Air Purifier for Residential
- Air Purifier for Commercial
- Air Purifier for Industrial
Air Purifier Market by CADR:
- Air Purifier for Smoke
- Air Purifier for Dust
- Air Purifier for Pollen
Air Purifier Market by Coverage Area:
- Air Purifier for Below 250 Sq. Ft.
- Air Purifier for 250-400 Sq. Ft.
- Air Purifier for 401-700 Sq. Ft.
- Air Purifier for Above 700 Sq. Ft.
Air Purifier Market by Sales Channel:
- Direct Sales Air Purifier
- Indirect Sales Air Purifier
- Air Purifier in Hypermarkets/Supermarkets
- Air Purifier in Discount Stores
- Air Purifier in Specialty Stores
- Air Purifier in Online Retail
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Key Statistics
1.3. Summary of Key Findings
1.4. Product Evolution Analysis
1.5. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. The Massive Impact of the Crisis
3.1. An economic and labor market shock impacting the production, consumption and investments
3.2. Impact of declining global growth on unemployment based on three scenarios, world and income groups
3.3. Countries in action: How have countries been responding?
3.4. The Economic Impact of the COVID-19 Outbreak on Developing Asia
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