The global air purifier market is set to reach $31,195.6 million by 2030 from $11,422.7 million in 2021, growing at a CAGR of 11.8% during 2021−2030, according to P&S Intelligence. The market’s growth is attributable to the rising air pollution levels throughout the world, decreasing indoor air quality, increasing incidence of airborne illnesses, as well as individuals’ rising living standards and spending power.
As per the WHO, nearly all of the world’s population breathes air that surpasses the minimum quality standards. Indoor air quality is among the leading causes of respiratory sickness, cancer, and even blindness, as well as premature mortality, particularly in underdeveloped nations.
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Key Findings of Air Purifier Market Reprot
- The cost of air purifiers utilizing the ionizing technology depends on the size, model, and brand. Moreover, ionic air purifiers’ inexpensive operating and purchase costs, as well as their reduced noise, are boosting the industry, with North America being, by far, the leading user. However, nations such as Russia, India, and China are likely to have a strong need for them in the future.
- HEPA and ionic air purifiers hold over half the air purifier market share, with HEPA-based air purifiers leading the way. HEPA filters are multi-layered meshes comprised of tiny fiberglass threads, which are struck with high-pressure air to kill viruses.
- Because ionic air purifiers do not have a filter, production costs are likely to fall in the coming years, along with the appearance of new technologies, thus providing chances for product development for market players.
- COVID-19 prompted individuals to seek out cleaner air, in order to reduce their chance of contracting the disease. Therefore, the market saw significant growth in 2020.
- The Asia-Pacific region accounts for over 40% of the worldwide revenue, owing to its growing population, fast urbanization and industrialization, as well as rising disposable income. Moreover, Bangladesh, Pakistan, and India are among the nations with the poorest air quality.
- As a result, China dominates the market in the region, accounting for around half the air purifier market share. Moreover, it serves as the production base for a significant number of players and component suppliers, which leads to easy and cost-effective product availability.
Residential air purifiers held roughly 20% share in the market in 2021, and they are expected to grow at the highest rate over the forecast period. The rising popularity of smart homes and increasing awareness among individuals about their health, as a result of the worries about breathing contaminated air, are both contributing to the rise in the demand for these appliances in this sector.
To stay competitive, air purifier market players have launched goods with innovative features and technologies, as well as upgrading their product portfolios and expanding their activities, in recent years. Major manufacturers of these systems include Panasonic Corporation, Samsung Electronics Co. Ltd., Koninklijke Philips N.V., Dyson Ltd., Honeywell International Inc., Daikin Industries Ltd., Whirlpool Corporation, IQAir, Sharp Corporation, and LG Electronics.
Air Purifier Market Segmentation Analysis
- Activated Carbon
- Electrostatic Precipitators
- Office Spaces
- Educational Institutes
- Shopping Malls
- Gyms & Fitness Centers
- Government Centers
- North America
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
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