New York, United States, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Air purifiers reduce dust particles, dust mites, mold, pet dander, smoke particles, automobile exhaust, cooking smoke, and gaseous pollutants. According to a Research Manager at Straits Research P. Ltd., “Rapid urbanization in India, China, Vietnam, Brazil, and Russia has led to increased construction activity, which in turn has resulted in higher levels of air pollution. In terms of regional analysis, the Asia Pacific region is expected to dominate the market, with the largest share and a compound annual growth rate (CAGR) of 13.9%".
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Rising Trends
The urban areas are influenced severely by harmful pollutants such as VOC (Volatile Organic Compound), carbon monoxide, oxides of Sulphur, and oxides of nitrogen, which are produced by industry and have a destructive effect on human life. These reasons have prompted individuals and organizations to look for ways to mitigate the negative impacts of indoor and outdoor air pollution. This will likely drive the market for smart air purifiers' growth throughout the forecast period.
Growth Opportunities
Smart air purifier market participants utilize artificial intelligence (AI) and nanotechnology to strengthen their market position. Brise Care BV in the Netherlands introduced two AI-powered air purifiers, the BRISE C200 and BRISE C360, which adapt to the user's usage pattern. In addition, LG Electronics, headquartered in South Korea, constructed the "Air Science Lab" research and development center in Seoul, South Korea. This laboratory would be utilized for the development of air purification technology. During the forecast period, it is anticipated that these developments will generate lucrative growth opportunities for the market for smart air purifiers.
Regional Insights
The Asia Pacific will command the market with the largest share while growing at a CAGR of 13.9%. Increased industrialization and rapid urbanization in countries like China, India, Vietnam, and Indonesia have increased construction activity, which is projected to fuel the growth of the smart air purifiers market.
It is believed that this will increase the market for intelligent air purifiers. In addition, countries like China and India have suffered an alarming rise in air pollution over the past few decades due to population growth, the expansion of the manufacturing sector, and the increase in automobile ownership. This has increased the risk of lung cancer, throat diseases, and eye infections among the residents of these countries, hence raising the demand for smart air purifiers.
Europe will expand at a CAGR of 10.5% during the forecast period. Due to the ubiquity of smartphones and the availability of smart home solutions, smart air purifiers have been in high demand over the past few years. The increase in death rates attributed to air pollution has posed a challenge for society and raised public awareness of its deleterious effects. In addition, technical advances in air filtration are predicted to generate new opportunities for new entrants into the market for smart air purifiers.
Demand for smart air purifiers is driven by heightened awareness of the poor air quality caused by air pollution. Implementing air quality control plans by the regulation governing the monitoring of air quality in European cities helps the market growth for air filtration, which in turn offers attractive potential opportunities for market participants throughout the projection period.
Key Highlights
- The global smart air purifier market size is presumed to reach USD 12,840 million, expanding at a CAGR of 11.9% during the forecast period.
- Based on type, the dust collector section is envisioned to expand at a CAGR of 12.5% and hold the largest market share.
- Based on technique, the high-efficiency particulate air (HEPA) section is envisioned to expand at a CAGR of 13.3% and hold the largest market share.
- Based on end-user, the residential section is envisioned to expand at a CAGR of 11.8% and hold the largest market share.
Competitive Players in the Market
- Coway Co., Ltd.
- Dyson Technology Limited
- Honeywell International Inc.
- Levoit
- LG Electronics Inc.
- Xiaomi Corporation
- Koninklijke Philips N.V.
- Sharp Corporation
- Unilever PLC (Blueair AB)
- Winix Inc.
Market News
- In 2022, Coway Co., Ltd. showcased its home health appliance at CES 2022. The innovative "Smart Care Air Mattress" from Coway detects the user's body pressure and sleeping position before adjusting itself to one of nine firmness levels via Air Cells for maximum comfort.
- In 2022, Coway Co., Ltd. introduced the Noble Collection and Coway Airmega, the company's most recent lines of air and water purifiers.
Global Smart Air Purifier Market: Segmentation
By Type
- Dust collectors
- Fume & smoke collectors
- Others
By Technique
- High-Efficiency Particulate Air (HEPA)
- Thermodynamic sterilization (TSS)
- Ultraviolet germicidal irradiation
- Ionizer purifiers
- Activated carbon filtration
- Others
By End-User
- Residential
- Commercial
- Others
By Region
- North America
- Asia Pacific
- Europe
- LAMEA
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