DUBLIN, Nov. 9, 2021 /PRNewswire/ — The “Air Purifiers Global Market Opportunities and Strategies to 2030: COVID-19 Growth and Change” report has been added to ResearchAndMarkets.com’s offering.
This report describes and evaluates the global air purifiers market. It covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the periods 2020-2025 and 2025-2030.
The global air purifiers market reached a value of nearly $1,610.5 million in 2020, having grown at a compound annual growth rate (CAGR) of 7.1% since 2015, and is expected to grow at a CAGR of 9.0% to nearly $2,478.1 million by 2025. The market is expected to reach $2,478.1 million by 2025, and $3,987.1 million by 2030.
Growth in the historic period resulted from rise in air pollution levels, increasing health awareness, technological advances, and increased prevalence of respiratory diseases, increased geriatric population, and economic growth in emerging markets. Factors that negatively affected growth in the historic period were growing environmental concerns, counterfeit products, and high initial and maintenance costs.
Going forward, higher incidence of allergies, rising health consciousness, changing climate conditions, increasing prevalence of obstructive sleep apnea, coronavirus impact, and growing urbanization are expected to drive the market. High adoption and maintenance costs, UV technology used in air purifiers, ozone emissions,and underperformance are major factors that could hinder the growth of the air purifiers market in the future.
The air purifiers market is segmented by type into dust collectors, fume & smoke collectors and others. The fume & smoke collectors’ market was the largest segment of the air purifiers market by type, accounting for $791.3 million or 49.1% of the total market in 2020. The dust collectors’ market is expected to be the fastest-growing segment going forward at a CAGR of 11.5% during 2020-2025.
The air purifiers market is also segmented by technology into HEPA filter, activated carbon, and others. The HEPA filter market was the largest segment of the air purifiers market by technology, accounting for $850.2 million or 52.8% of the total market in 2020 and is expected to be the fastest-growing segment going forward at a CAGR of 9.6% during 2020-2025.
The air purifiers market is also segmented by end-user into residential and commercial. The residential market was the largest segment of the air purifiers market by end-user, accounting for $1,179.9 million or 73.3% of the total market in 2020. The commercial market is expected to be the fastest-growing segment going forward at a CAGR of 9.1% during 2020-2025.
North America was the largest region in the air purifiers market, accounting for 33.8% of the global market in 2020. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the air purifiers market will be Middle East and Eastern Europe, where growth will be at CAGRs of 13.0% and 11.5% respectively from 2020-2025.
The coronavirus outbreak has been impacting various industries and global economies. The air purifiers market has also been affected by the pandemic, in both positive and negative ways. The US EPA (Environmental Protection Agency) reported that when used properly, air purifiers can help reduce airborne contaminants including viruses in a home or confined space. However, by itself, a portable air cleaner is not enough to protect people from COVID-19. When used along with other best practices recommended by the Centers for Disease Control and Prevention, operating an air cleaner can be part of a plan to protect from the virus. Some air purifier systems can effectively remove viruses – but only from the air that is actually drawn through the unit. Overall exposure to such viruses and other potential airborne contaminants, and their associated health risks, might not be eliminated by the use of any air purifier system.
The air purifiers market is highly concentrated with a small number of large players dominating the market. The top ten competitors in the market made up to 68.77% of the total market in 2020. Major players in the market include LG Electronics Inc., Coway Co., Ltd., Daikin Industries, Ltd., Dyson Ltd., Whirlpool Corporation and others.
The top growth potential in the air purifiers market by type will arise in the dust collectors’ market, which will gain $528.9 million in global annual sales by 2025. The top growth potential in the air purifiers market by technology will arise in the HEPA Filter market, which will gain $492.4 million in global annual sales by 2025. The top growth potential in the air purifiers market by end-user will arise in the residential market, which will gain $632.3 million in global annual sales by 2025. The air purifiers market size will gain the most in the USA at $165.9 million.
Market-trend-based strategies for the air purifiers market include developing smart air purifiers to capitalize on the changing consumer trends and growing popularity of these products, focusing on developing energy-efficient products, multi-functional products, portable products, wearable air purifiers, increasing focus on M&A growth strategies to expand customer base, and investing in providing automated air-purifiers. Player-adopted strategies in the air purifiers industry include focused on expanding its air purifiers market by introducing products overseas, expanding its product portfolio with innovative technologies, focused on the expansion of its air purifiers market through sustainable investments and acquisitions.
To take advantage of the opportunities, the publisher recommends the air purifiers companies to focus on smart air purifiers, invest in energy efficient appliances, wearable and portable air purifiers, strategic alliances for new product development, expand in emerging markets, focus on M&A, leverage e-commerce to maximize reach and revenues, provide competitively priced offerings, leverage social media, participate in trade shows and events, focus on major end-users and target health conscious individuals.
Companies Mentioned
- LG Electronics Inc.
- Coway Co., Ltd.
- Daikin Industries, Ltd.
- Dyson Ltd.
- Whirlpool Corporation
For more information about this report visit https://www.researchandmarkets.com/r/7f3qel
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SOURCE Research and Markets