Dublin, May 03, 2023 (GLOBE NEWSWIRE) -- The "Commercial Fan And Air Purification Equipment Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global commercial fan and air purification equipment market grew from $73.18 billion in 2022 to $79.52 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The commercial fan and air purification equipment market is expected to grow to $106.81 billion in 2027 at a CAGR of 7.7%.
The growing popularity of smart air purifiers is a major trend in the market. With air pollution increasing across the world, a growing awareness of allergies, pollution, and climate change is increasing consumer concern about the quality of the air they breathe. As a result, air purifiers are growing in popularity. Smart air purifiers are devices that are connected to other devices via the internet, and other technologies such as Bluetooth, near field communication (NFC), and Wi-Fi.
The rise of the Internet of Things (IoT) technology also supports the development of smart air purifiers. Smart air purifiers allow the air quality to be monitored and managed from a smartphone application, which provides a live reading of quality data.
For instance, in November 2022 Samsung India Electronics Ltd. (SIEL), a subsidiary of Samsung Electronics Company Ltd (SECL) of South Korea Samsung India Electronics Ltd. (SIEL), a subsidiary of Samsung Electronics Company Ltd (SECL), a Korea-based technology company, launched two models of air purifiers, AX46 and AX32. These purifiers are Internet of Things (IoT)-enabled and remove nanoparticles, ultrafine dust, bacteria, and allergens.
Technological advances in commercial fan and air purification equipment drove the market in the historic period. Increased access to the internet and the use of smartphones supported the development and consumption of innovative technologically enabled appliances.
According to the GSMA annual State of Mobile Internet Connectivity report 2021, 51% of the world's population (over 4 billion people) were using the internet by mobile by the end of 2020, which is an increase of 225 million since the end of 2019. Further, increasing integration of the Internet of Things (IoT) with appliances allowed customers to connect with their appliances via the internet and remotely control essential tasks by collecting data. Thus, technological advances drove the market for air purifiers in the historic period.
High adoption and maintenance costs are expected to limit the growth of the air purifier market. Air purifiers are considered premium products due to the high adoption cost in both developed and developing countries. According to consumer reports, air purifiers range from $200 to $900 and the maintenance is high due to the change of filters two or three times a year, and some air purifiers have multiple filters.
For instance, considering the average carbon-activated filter air purifier that eliminates bad odors on the market, the filter needs to be replaced every three months to be effective, which costs $50, then there is an additional cost of the main filter which ranges from $20 to $200 each. The Honey wells Air Touch S8 is a HEPA technology-based air purifier that costs around $500 (36,000 INR) in India and is a multiple-filter air purifier. The filter should be replaced every 4 months, which costs $40 (3,000 INR) each time. , Therefore, high adoption and maintenance costs are expected to affect the air purifiers market's growth.
The Asia-Pacific was the largest region in commercial fan and air purification equipment in 2021. Western Europe was the second largest region in the commercial fan and air purification equipment. The regions covered in the commercial fan and air purification equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Scope
Markets Covered:
1) By Type: Air Purification Equipment; Attic And Exhaust fans; Other Commercial Fan And Air Purification Equipment
2) By Technology Type: High Efficiency Particulate Absorption/Absorber (HEPA; Activated Carbon; Electrostatic Precipitator; Ultra Violet (UV) Light air purifier; Ionic Air Purifier; Other Technology Types
3) By Capacity: Small; Medium; Large
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 300 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $79.52 billion |
| Forecasted Market Value (USD) by 2027 | $106.81 billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Commercial Fan And Air Purification Equipment Market Characteristics
4. Commercial Fan And Air Purification Equipment Market Product Analysis
5. Commercial Fan And Air Purification Equipment Market Supply Chain
6. Commercial Fan And Air Purification Equipment Market Customer Information
7. Commercial Fan And Air Purification Equipment Market Trends And Strategies
8. Commercial Fan And Air Purification Equipment Market - Macro Economic Scenario
9. Commercial Fan And Air Purification Equipment Market Size And Growth
10. Commercial Fan And Air Purification Equipment Market Regional Analysis
11. Commercial Fan And Air Purification Equipment Market Segmentation
12. Commercial Fan And Air Purification Equipment Market Metrics
13. Asia-Pacific Commercial Fan And Air Purification Equipment Market
14. Western Europe Commercial Fan And Air Purification Equipment Market
15. Eastern Europe Commercial Fan And Air Purification Equipment Market
16. North America Commercial Fan And Air Purification Equipment Market
17. South America Commercial Fan And Air Purification Equipment Market
18. Middle East Commercial Fan And Air Purification Equipment Market
19. Africa Commercial Fan And Air Purification Equipment Market
20. Commercial Fan And Air Purification Equipment Market Competitive Landscape
21. Key Mergers And Acquisitions In The Commercial Fan And Air Purification Equipment Market
22. Market Background: Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Manufacturing Market
23. Recommendations
24. Appendix
A selection of companies mentioned in this report includes
- Honeywell International Inc.
- Panasonic Corporation
- Carrier Corporation
- Hitachi Ltd.
- Sharp Corporation
- 3M Company
- Regal Beloit Corporation
- SPX FLOW Inc
- Illinois Tool Works Inc.
- Helen of Troy Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/z2t2ai
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