New York, May 03, 2022 (GLOBE NEWSWIRE) -- This revised analysis by skilled analysts at Persistence Market Research states that the air purifier market was valued at US$ 11 Bn in 2020 and is predicted to surge at a CAGR of 10.1% over the next ten years.
Rise in pollution levels across the world has created demand for air purifiers like never before. Urbanization has paced up in developing and emerging economies, and this has substantially increased pollution. Air quality has dropped substantially due to climate change and pollution. Prevalence of respiratory disorders has also spawned the need for air purifying technologies. All of these factors are in favor of increasing demand for air purifiers.
High cost of purchase and maintenance is expected to be one of the major factors hindering growth of the air purifier marketplace. However, high-efficiency particulate air filter technology and carbon filter technology are expected to gain popularity over the next ten years.
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Prime market players are focusing on developing cost-effective air purifiers to target untapped markets with less spending potential.
- In September 2021, Realme a Chinese smartphone manufacturer, announced the launch of new air purifiers in India. Realme Techlife products were announced via an online launch. The air purifier comes with a high CADR of 330m3/h.
- On September 20, 2021, Xiaomi unveiled a new air purifier in China with a unique design.
Key Takeaways from Market Study
- The global air purifier industry is expected to expand at a CAGR of 10.1% over the next ten years.
- The market for air purifiers in East Asia is expected to have a dominant outlook over the forecast period.
- Sales forecast for air purifiers through 2031 is predicted to be US$ 29 Bn.
- Increasing levels of pollution, rising prevalence of respiratory disorders, and increasing disposable income in emerging economies are driving market expansion.
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“Demand for air purifiers is expected to see a rise in economies where per capita disposable income is increasing and standard of living is also changing,” says a Persistence Market Research analyst.
Competitive Landscape
The global market for air purifiers is highly competitive and does not have many dominant players, which makes it a very lucrative market for new entrants as well.
Some of the key market players included in the report are Honeywell International Inc., Whirlpool Corporation, Alen Corporation, AllerAir Industries Inc., Koninklijke Philips N.V., Dyson Limited, Unilever plc, The Camfil Group, IQ Air, WINIX Co. Ltd., Sharp Corporation, Daikin Industries Ltd., Samsung Electronics Co. Ltd., LG Electronics Inc., Xiaomi Corporation, HSIL Limited, Panasonic Corporation, Kent RO Systems, and others.
The above are identified as key manufacturers of air purifiers. These market participants are focusing on research & development of new air purifiers that would be more cost-effective and affordable for purchase as well as maintenance.
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More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a revised market research report on the global air purifier market that contains industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides an in-depth analysis of the market through different segments - coverage area, technology, CADR, end use, distribution channel, and region. The report also provides supply and demand trends along with an overview of the parent market.
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