Residential Air Purifiers Market is Expected to Reach $14.1 Billion | MarketsandMarkets.

Chicago, Aug. 17, 2023 (GLOBE NEWSWIRE) -- In the near future, the residential air purifiers industry is poised for a significant transformation driven by escalating concerns over indoor air quality and health. As technological advancements continue to evolve, air purifiers will become smarter, more energy-efficient, and seamlessly integrated into smart home ecosystems. The industry will witness a surge in demand for HEPA and advanced filtration systems capable of combating not only allergens and particulate matter but also volatile organic compounds and airborne pathogens. With a heightened emphasis on sustainability, manufacturers will increasingly focus on developing eco-friendly materials and designs. Moreover, a growing awareness of respiratory health coupled with the ongoing global urbanization trend will drive the adoption of air purifiers as essential household appliances, reshaping the way individuals perceive and prioritize the air they breathe within their living spaces.

Residential Air Purifiers market in terms of revenue was estimated to be worth $9.6 Billion in 2021 and is poised to reach $14.1 Billion by 2026, growing at a CAGR of 8.1% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. The growth of this market is majorly driven by the growing popularity of smart homes, supportive government regulations for effective air pollution monitoring and control, increasing public-private funding for effective air pollution monitoring, rising levels of air pollution worldwide, and increasing public awareness related to the healthcare and environmental implications of air pollution. However, the technical limitations pertaining to air quality monitoring products, along with their initial installation cost are expected to restrain the growth of this market during the forecast period.

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Residential Air Purifiers Market Scope:

Report Coverage	Details
Market Revenue in 2021	$9.6 Billion
Estimated Value by 2026	$14.1 Billion
Growth Rate	Poised to grow at a CAGR of 8.1%
Market Size Available for	2019–2026
Forecast Period	2021–2026
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Technology and Type
Geographies Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Emerging markets to offer high growth opportunities
Key Market Drivers	Increasing urbanization and indoor air pollution levels

Residential Air Purifiers market major players covered in the report, such as:

• 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)
• SHIL Limited (India)
• IDEAL Krug & Priester GMBH & Co. KG (Germany)
• Havells India Ltd. (India)
• Molekule (US)
• Carrier Global (US)
• Coway CO. Ltd. (South Korea)
• and Among Others

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The study categorizes the Residential Air Purifiers Market based on technology, type, and regional level.

Global Residential Air Purifiers Market, by Technology

• High Efficiency Particulate Air (HEPA)
• Other Technologies                        

Global Residential Air Purifiers Market, by Type

• Portable /Stand Alone Air Purifiers
• In-Duct Air Purifiers

Global Residential Air Purifiers Market, by region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa

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The key stakeholders in the Residential Air Purifiers market include:

• Manufacturers and Brands: Companies designing, producing, and marketing residential air purifiers are at the core of the market. They innovate technologies, develop various models, and differentiate themselves through features, design, and filtration capabilities.
• Consumers: Individuals and households seeking to improve indoor air quality are the driving force behind the demand for residential air purifiers. Their preferences, needs, and purchasing decisions influence market trends and product development.
• Retailers: Both physical and online retailers serve as the crucial link between manufacturers and consumers, showcasing and distributing air purifiers to the target audience. Their marketing efforts and sales strategies impact market accessibility and product visibility.
• Regulatory Authorities: Government agencies and regulatory bodies set standards and guidelines for indoor air quality and safety, influencing the manufacturing processes and specifications of air purifiers. Compliance with these regulations is essential for market entry and consumer trust.
• Research and Development (R&D) Institutions: Academic and private research organizations contribute to advancements in air purification technologies, enabling manufacturers to develop more efficient and effective products.
• Health and Environmental Organizations: Entities focused on health advocacy and environmental awareness promote the importance of clean indoor air. They play a role in educating consumers about the benefits of air purifiers and indoor air quality management.
• Energy and Environmental Agencies: Organizations working towards energy efficiency and sustainability encourage the development of energy-efficient air purifiers and promote environmentally friendly practices within the industry.
• Service and Maintenance Providers: Companies offering maintenance, repair, and replacement services for air purifiers ensure their longevity and optimal performance. This segment contributes to the after-sales ecosystem.
• Investors and Financial Institutions: Investors provide funding for research, development, production, and expansion efforts of air purifier manufacturers. Financial institutions offer loans and financial support to companies operating in the industry.
• Media and Review Platforms: Media outlets and online platforms that review and provide information about air purifiers influence consumer perceptions, brand reputation, and purchasing decisions.
• Trade Associations and Industry Groups: Organizations that bring together industry players facilitate networking, knowledge sharing, and collaboration. They also contribute to standardization efforts and lobbying for the industry's interests.
• Supply Chain Partners: Suppliers of raw materials, components, and technology used in air purifier manufacturing are integral to the industry's value chain.

These stakeholders collectively shape the trajectory of the Residential Air Purifiers market, influencing product innovation, consumer awareness, regulations, and overall market growth.

Recent Developments:

• In 2021, Panasonic Corporation (Japan) has developed a new nanoe X device that generates 100 times more Hydroxyl (OH) radicals than the conventional nanoe device. As a result, the latest nanoe X device delivers increased effectiveness in air purification and deodorization in indoor spaces.
•  In 2021, Panasonic Ecology Systems Co., Ltd. (PES) and Panasonic Ecology Systems Guangdong Co., Ltd. built the First Shunde Branch Plant in China, a new factory for IAQ devices such as energy recovery ventilator systems and air purifiers.
• In 2021, Dyson (UK) opened its fourth Dyson Demo store in France, located in the iconic shopping district of Terrasses du Port in Marseille. The new space will showcase Dyson’s latest technology in home cleaning, air purification, lighting, and hair care.
• In 2020, Molekule (US) partnered with Sourcenext (Japan). The partnership is aimed at helping Molekule move into the next phase of growth, which includes global expansion. In a commitment to Molekule's innovation, Sourcenext has also invested USD 10.1 million into the company. The funds will be used for growth initiatives as the company prepares to meet strong global demand for an air purification solution.
• In 2020, Molekule (US) launched its India operations by introducing its air purifiers on Amazon for the Indian consumers.

Frequently Asked Questions (FAQs) of Residential Air Purifiers Market:

Which are the top industry players in the global residential air purifiers market?
The top market players in the global 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).

Which global residential air purifiers filtration technology have been included in this report?
This report contains the following main segments:

• High Efficiency Particulate Air (HEPA) filtration technology
• Other air filtration technologies (Electrostatic precipitators, UV air filters, Ionizers, and Activated Carbon)

Which geographical region is dominating the global residential air purifiers market?
The global infection surveillance solutions market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The Asia Pacific accounted for the largest share of the residential air purifiers market, followed by North America, Europe, Latin America, and the Middle East & Africa. The Asia Pacific has the larger share in the residential air purifiers market due to the fast adoption of advanced indoor air quality monitoring technologies, rising air pollution levels in the region, ongoing technological advancements in particulate sensors, rising public-private funding and investments, and the presence of supportive government regulations. Moreover, several major global players are based in Japan, owing to which Japan is a center for innovation in the residential air purifiers market.

Which is the leading residential air purifiers market, by type?
Based on type, the residential air purifiers market is segmented into portable/stand-alone air purifiers and in-duct air purifiers. The portable/stand-alone air purifiers segment accounted for the largest share of the residential air purifiers market. The large share of this segment can be attributed to the increasing public awareness pertaining to the healthcare implications of air pollution, the growing popularity of smart homes and the need to remove the sources of pollutants or allergens from indoor air.

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Report Objectives:

• To define, describe, segment, and forecast the residential air purifiers market by technology, type and by region.
• To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges).
• To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall residential air purifiers market.
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.
• To forecast the size of the residential air purifiers market in five main regions (along with their respective key countries), namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.
• To profile the key players in the residential air purifiers market and comprehensively analyze their core competencies and market shares.
• To track and analyze competitive developments such as acquisitions, product launches, expansions, collaborations, agreements, partnerships, and R&D activities of the leading players in the residential air purifiers market.
• To benchmark players within the residential air purifiers market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business strategy, market share, and product offering.

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