Date: Apr 2023
Air Purifiers Market worth USD 31.11 billion by 2033
The Market Statsville Group (MSG) publishes the new report on the "Air Purifiers Market by Technology (High Efficiency Particulate Air (HEPA), Activated Carbon, Ionic Filters, Others), by Application (Commercial, Residential, Industrial), By Region – Global Share and Forecast to 2033
According to the Market Statsville Group (MSG), the global air purifiers market size is expected to grow from USD 14.93 billion in 2022 to USD 31.11 billion by 2033, at a CAGR of 6.9% from 2023 to 2033.
The air purifiers market consists of sales of air purifiers services by entities (organizations, sole traders, and partnerships). The growing popularity of smart homes, supporting government legislation for effective air pollution monitoring and management, and increased public awareness of the healthcare and environmental repercussions of air pollution are driving the expansion of this industry. In addition, the necessity for an energy-efficient air purifier, as well as R&D to bring novel products to market, is assisting market growth. Nevertheless, the high cost of these devices, as well as the technological constraints associated with air quality monitoring equipment, are projected to impede market growth throughout the projection period.
Moreover, supportive government initiatives for effective air pollution monitoring & control, for instance, in September 2021, the Indian Government inaugurated the first functional smog tower in Delhi on International Day of Clean Air for Blue Skies. The smog tower is a structure that is used as a large/medium-scale air purifier to reduce pollutants by forcing air through filters. This will also create opportunities in the market over the forecasting period all over the globe.
Global Air Purifiers Market Segmentation
The overall air purifiers market has been segmented into technology, application, and region.
- By Technology (High Efficiency Particulate Air (HEPA), Activated Carbon, Ionic Filters, Others)
- By Application (Commercial {Retail Shops, Offices, Healthcare Facilities, Hospitality, Schools & Educational Institutions, Laboratories, Transport, Others}, Residential, Industrial)
- By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
Industrial segment is at the highest CAGR during the forecast period
Industrial segment is expected to grow at the highest CAGR during the forthcoming period. Printing, petrochemical and power plants, food and beverage, chemical, and industrial industries all employ air purifiers. Air purifiers aid in the removal of construction dust, asbestos, weld smoke, and other particles that are hazardous to workers and have a negative impact on the environment if left untreated. Air purifiers are used to eliminate impurities from indoor air. People are becoming more aware of the threats that VOCs, smoke particles, and other particulate matter bring to human health, hence the usage of air purifiers in the house has grown. Also, many had stayed at home as a result of the containment measures put in place to prevent the spread of COVID-19. As a result, there is a greater need for air purifiers in residential applications.
The Asia Pacific to account for the highest CAGR during the forecast period
Over the forecast period, the Asia Pacific market is expected to grow rapidly. Air quality legislation, such as the United States Environmental Protection Agency's (U.S. EPA) establishment of national ambient air quality standards, the United States Clean Air Act, and Environment Canada's comprehensive emission reduction programmers, are expected to open up new opportunities for air purifier manufacturers. The development and implementation of regulatory measures, the organization of public awareness air quality management programmers, and the increasing number of installations of extensive ambient air quality monitoring systems are all expected to increase product demand in Mexico in the next years.
This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the air purifiers market. It also consists of the profiles of leading companies such as Daikin, Boneco AG, HoMedics UK, Panasonic, Philips, Coway, Sharp, IQAir, Camfil, Blueair, Winix, Honeywell International Inc., Maxell, Rabbitair, Air Oasis, Airpura Industries., EnviroKlenz, Aurabeat Technology, Hitachi, and 3M. The key players' growing research and development activities for launching innovative healthcare devices with advanced features and strategic unions are expected to drive market growth.
About Market Statsville Group
Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.
MSG has an entire repository of research reports on more than 1,000 niche industries, 3,000 high-growth potentials markets, 5,000 data sets, and more than 12,000 company profiles.
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