Air Purifier Market Valuation To Surpass $22.84 Billion By 2030

Report Highlights

• Based on the technology, the high-efficiency particulate absorbing (HEPA) segment is expected to have a significant revenue share as smoke, dust, and pollen are all trapped by HEPA filters. HEPA filters’ superior quality and dependability in removing airborne particles are projected to drive product penetration in the global market.
• Based on the application, the commercial segment is expected to have a significant revenue share as air purifiers are used in hotels, educational facilities, theatres, malls, and hospitals. Hotels and restaurants utilize air purifiers with activated carbon and HEPA to remove airborne particles and odor from the air, thereby improving the air quality in the commercial facilities.

Market Dynamics

Drivers

Increasing environmental pollution concerns

The development of public and private infrastructure has accelerated as the world has become more globalized, with major countries undertaking massive construction projects to develop seaports, airports, transportation infrastructure, and housing. Unfortunately, as a result of the loss of forest cover, these projects have increased pollution levels. Furthermore, the use of air conditioners in residential and commercial buildings is increasing, contributing to particulate matter emissions. As a result, demand for air purifiers is rising throughout the world. Thus, the increasing environmental pollution concerns are driving the growth of the air purifier market growth during the forecast period.

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Restraints

High research and development expenses

The air purification industry is primarily driven by the needs of the consumer. Manufacturers of air purifiers operate by gathering information about the needs and requirements of their customers. Consumer expectations, on the other hand, are constantly changing because they prefer additional benefits as well as the essential functions of the product. Residential air purifiers, for example, that ensure allergen-free breathing should also have cooling capabilities. Consumers prefer extra features like fine particulate filters and ozone control applications at the same price as a basic air purifier. Thus, the high research and development expenses is restricting the growth of air purifier market during the forecast period.

Opportunities

Surge in demand for mechanical air purifiers

The mechanical air filters obstruct dust particles and attract them to the filter surface, where they are collected and removed from the environment. Mechanical filters have grown in popularity as a result of their ability to prevent dust and debris from settling in mechanical parts of heating and air conditioning systems. As a result, the surge in demand for mechanical air purifiers is creating lucrative opportunities for the air purifier market growth.

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Challenges

Technical limitations

Most portable or stand-alone air purifiers can only monitor the air quality in a small area and lack three-dimensional data acquisition capabilities. Instead of active monitoring sensor nodes, many air quality monitoring systems use passive monitoring sensor nodes, which necessitate periodic and manual data updates. Active monitoring sensor nodes are capable of automated data acquisition, data transfer, and data storage via wireless or other networks. In the absence of active monitoring sensor nodes, specific air purifiers may suffer from technical limitations, limiting their adoption and, to some extent, market growth.

Regional Snapshot

North America is the largest segment for air purifier market in terms of region. The manufacturing units’ increased demand for air purifiers in the facility will boost the regional demand. The air purifier market in the U.S. will rise due to rising demand from the commercial sector, fueled by the growing risk of infection from airborne particles.

Europe region is the fastest growing region in the air purifier market. This is due to a combination of causes, including expanding urbanization and industrialization, as well as a larger population with more discretionary income. Furthermore, rising smog and air pollution circumstances, particularly in nations such as China and India, are predicted to drive air purifier use, complementing the regional growth.

Some of the prominent players in the air purifier market include:

• Honeywell International, Inc.
• IQAir North America, Inc.
• LG Electronics, Inc.
• Aerus LLC
• Unilever PLC
• Daikin Industries, Ltd.
• Panasonic Corporation
• Koninklijke Philips N.V.
• Whirlpool Corporation
• Hamilton Beach Brands, Inc.

Segments Covered in the Report

By Technology

• Activated Carbon
• High Efficiency Particulate Air
• Ionic Filters
• Others

By Application

• Residential
• Commercial
• Industrial

By Regional Outlook

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Rest of the World