Dublin, Nov. 15, 2021 (GLOBE NEWSWIRE) -- The "Residential Air Purifiers Market by Technology (High Efficiency Particulate Air (HEPA), Electrostatic Precipitators, Activated Carbon, Ultraviolet), Type (Portable Air Purifiers, In-duct Air Purifiers), COVID-19 Impact - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global residential air purifiers market is expected to reach USD 14.1 billion in 2026 from USD 9.6 billion in 2021, at a CAGR of 8.1% during the forecast period.
The residential air purifiers are the most effective devices to improve indoor air quality and to reduce or remove the sources of pollutants and to ventilate with clean air. They offer the advantages of higher efficacy, usability, and improved air quality for healthy breathing.
Currently, with the surge in COVID-19 cases, there is an increased focus on personal health, coupled with the need to reduce the spread of infection. This is further expected to drive the market growth during the forecast period. However, the technical limitations pertaining to air quality monitoring products, along with their initial installation cost, are hindering the growth of this market to a certain extent.
Based on technology, the HEPA segment accounted for the largest share during the forecast period
Based on technology, the residential air purifiers market is segmented into HEPA filters (high-efficiency particulate arresting or high-efficiency particulate air) and other technologies. The HEPA segment accounted for the larger market share. The growing concern for environmental sustainability, increasing public awareness pertaining to the healthcare implications of air pollution, and the growing popularity of smart homes/ambient-assisted living has resulted in the increased adoption of the HEPA technology in the residential air purifiers market.
Based on type, the portable/stand-alone purifiers segment accounted for the largest share during the forecast period
Based on type, the residential air purifiers market is segmented into portable/stand-alone purifiers and in-duct purifiers. The portable/stand-alone purifiers accounted for the largest share of the residential air purifiers market in 2020. The large share of the portable/stand-alone purifiers segment can be attributed to the increasing public awareness pertaining to the healthcare implications of air pollution and the growing popularity of smart homes/ambient-assisted living.
Asia Pacific is expected to have the fastest growth in the residential air purifiers market during the forecast period
The Asia Pacific region is also expected to be the fastest-growing regional market at a CAGR during the forecast period. Factors such as the increasing investments by major players in the region, the presence of less stringent regulations for product approval, and growing demand for quality lifestyles are expected to drive the growth of this market during the forecast period.
Research Coverage
The report analyzes the residential air purifiers market and aims at estimating the market size and future growth potential of this market based on various segments such as technology, type, and region. The report also includes a product portfolio matrix of various residential air purifier products available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Key Players in the Residential Air Purifiers Market
The key players operating in the residential air purifiers market include Daikin Industries, Ltd. (Japan), Sharp Corporation (Japan), Honeywell International Inc. (US), Samsung Electronics Co., Ltd. (South Korea), LG Electronics Inc. (South Korea), Koninklijke Philips N.V. (Netherlands), Dyson (UK), Unilever Group (UK), Panasonic Corporation (Japan), Whirlpool Corporation (US), AllerAir Industries Inc. (US), IQAir (Switzerland), Winix Co., Ltd. (South Korea), Xiaomi Corporation (China), Camfil AB (Sweden), Airpura Industries Inc. (Canada), Airgle Corporation (US), Hunter Pure Air (US), Kent RO Systems Ltd. (India) and SHIL Limited (India).
This report provides insights into the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the global residential air purifiers market. The report analyzes this market by technology and type.
- Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global residential air purifiers market
- Market Development: Comprehensive information on the lucrative emerging markets by technology and type.
- Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global residential air purifiers market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global residential air purifiers market.
Market Dynamics
- Drivers
- The Rising Prevalence of COVID-19
- Increasing Urbanization and Indoor Air Pollution Levels
- Supportive Government Regulations for Effective Air Pollution Monitoring & Control
- Increasing Public Awareness Pertaining to the Healthcare Implications of Air Pollution
- Restraints
- High Product Costs
- Technical Limitations Associated with Air Quality Monitoring Products
- Opportunities
- Emerging Markets to Offer High Growth Opportunities
- Rising Technological Advancements
- Challenges
- Complex Nature of Indoor Pollutants
- High R&D Expenses for New Product Launches
For more information about this report visit https://www.researchandmarkets.com/r/3wzb9v
