Rockville , March 05, 2024 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, through its latest published study, reveals that the global air purification market is estimated at US$ 41.26 billion in 2024. Worldwide revenue from the sales of air purification systems is projected to reach US$ 200.7 billion by the end of 2034.
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In recent years, there has been a noteworthy increase in the number of vehicles on the road, which is further projected to contribute to increased air pollution levels, thus making it difficult for people to breathe. Therefore, demand for air purification systems is rising across geographies. Further, several new players are focusing on providing more efficient technology in air purifiers. Increasing R&D activities, growing investments in product advancements, and efforts for technological up-gradation are some other key factors contributing to the rising adoption of air purification solutions.
Increasing CO2 levels across some countries, including India and Mexico, are attributed to rising urbanization and an expanding population with minimal monitoring of rules and regulations imposed for pollution. Therefore, specific stringent regulations have been enforced to uphold air quality standards and mitigate pollution, consequently driving the adoption of air purification systems.
| Report Attribute | Details |
| Value Projection (2034) | US$ 200.7 Billion |
| Growth Rate (2024-2034) | 17.1% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 25 Tables |
| No. of Figures | 132 Figures |
Key Takeaways from Market Study
- The global air purification market is estimated at US$ 41.26 billion in 2024.
- Global demand for air purification systems is projected to reach a valuation of US$ 200.7 billion by the end of 2034.
- The market is forecasted to expand at an exponentially high CAGR of 17.1% from 2024 to 2034.
- East Asia is forecasted to hold 40.7% share of global market revenue by the end of 2034.
- The Canadian market is projected to rise at 17.9% CAGR from 2024 to 2034.
- High-efficiency particulate air (HEPA) systems are projected to account for 37.9% share of the global market by 2034.
“Rapid industrialization, urbanization, and modernization are leading to increased global pollution levels. This is projected to stimulate the extensive adoption of air purification systems,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Daiken Industries Ltd.
- American Air & Water Inc.
- Eureka Forbes Ltd.
- Honeywell International Inc.
- Hitech Ultraviolet Pvt. Ltd.
- IQAir
- Panasonic Corporation
- Koninklijke Philips N.V.
- Sharp Corp.
- LG Electronics
Rapidly Rising Adoption of Air Purification Systems in Commercial Sector
Demand for air purification products in the commercial sector is projected to rise at a CAGR of 17.1% and reach a market valuation of US$ 109.98 billion by the end of 2034. Growing adoption of air purification systems in several sectors, including hotels, conference rooms, shopping malls, academic facilities, theaters, and hospitals, is projected to contribute to revenue streams. In addition, many food restaurants are projected to use purifiers containing HEPA (high-efficiency particulate air) and activated carbon for the removal of harmful substances.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the air purification market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on technology (activated carbon filtration, high-efficiency particulate air [HEPA], ionic purification, ultraviolet germicidal irradiation [UVGI]) and application (commercial, residential, industrial), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Explore More Related Studies Published by Fact.MR Research:
Activated Carbon Filter Market: The activated carbon filter industry is expected to be worth $75 billion by 2033. By 2033, the activated carbon filter industry is estimated to be worth $150 billion, with a 7.2% CAGR.
Air Treatment Product Market: The global air treatment product market size has been forecasted to reach US$ 62.36 billion in 2024 and climb to US$ 166.21 billion by 2034-end.
Air Purifier Market: The global air purifier market size is projected to be valued at US$ 23.72 billion in 2024 and is forecasted to grow to a size of US$ 48.9 billion by the end of 2034.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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