Market Overview:
MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Air Purifier Market, The Global Air Purifier Market size is valued at around USD 9.76 billion in 2023 and is estimated to grow at a CAGR of about 11.2% during the forecast period, i.e., 2024-30. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Air Purifier Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.
Industry Outlook & Forecasts:
- Forecast Period: 2024-2030
- Market Size in 2023: USD 9.76 billion
- CAGR (2024-2030): 11.2%
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Global Air Purifier Market Segmentation Breakdown:
The Air Purifier Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Filter Type
- High-Frequency Particulate Air (HEPA) filters
- Ionic filters
- Activated Carbon
- Electrostatic Precipitators
High-Frequency Particulate Air (HEPA) filters acquired the largest share in the Global Air Purifier Market in the previous few years.
- By Sales Channel
- Online Sales
- Offline Sales
- By End Users
- Commercial
- Residential
- Industrial
- Institutional
The Commercial sector is anticipated to capture a substantial share of the Air Purifier Market. Places like schools, malls, workplaces, hotels, and others widely use air purifiers to improve the quality of air & eliminate airborne disease, odor, and smoke.
Geographical Growth Insights:
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia Pacific
Asia-Pacific is projected to continue its dominance in the Air Purifier Market with the largest share over the forecast years.
MarkNtel Advisors Highlights Key Market Drivers for Air Purifier Market:
Rising Demand for Air Purifiers as a Defence Against Airborne Diseases – The escalating prevalence of respiratory diseases linked to air pollution, such as asthma and allergies, has spurred a growing demand for air purifiers in both residential and commercial spaces. Heightened awareness of the health risks associated with airborne diseases has made people more proactive in safeguarding themselves from air pollutants & pathogens. This increased consciousness, particularly in urban areas, has led to a surge in the adoption of air purifiers as a pre-emptive measure to enhance indoor air quality and mitigate the risk of airborne illnesses.
Moreover, the global pandemic has played a pivotal role in amplifying concerns related to diseases, resulting in a significant uptick in the adoption of air purifiers as a preventive tool against pathogenic viruses, further accelerating the Air Purifier Market.
A Comprehensive Analysis of Leading Companies in Global Air Purifier Market
- Signify
- Panasonic
- Sharp Electronics
- Daiken Industries
- Blue Air
- Honeywell International
- LG Electronics
- Whirlpool Corporation
- Dyson Ltd.
- Samsung
Explore More About This Research Report @ https://www.marknteladvisors.com/research-library/global-air-purifier-market.html
Air Purifier Market Recent Development:
- 2022: Daikin Europe N.V. announced that it would invest nearly 300 million Euro to establish a new factory in Lodz Poland, which would be Daikin’s first production base in the country. The new factory would manufacture residential heat pump units and start operations by July 2024.
- 2022: Carrier announced to invest around USD 16 million build a Research & Development Center of Excellence for heating, air conditioning and domestic water systems in Villasanta (MB), Italy. The new facility would focus on the development of new innovations to expand Carrier’s sustainable and intelligent solutions, primarily heat pumps, hydrogen-ready boilers and IoT-enabled systems for the residential and commercial segments in Europe.
What are the growth Challenge driving the Global Air Purifier Market?
Cost Barriers & Awareness Gap Impacting Air Purifier Adoption – The high installation and maintenance costs of air purifiers are hindering the Air Purifier Market growth. In developing and underdeveloped economies, air purifiers are considered a luxury product, even in the urban part of the country. Moreover, the cost of regular maintenance of air purifiers adds as an additional expense, like filter changes and cleaning of media filters due to continuous use of the air purifiers. This has resulted in the low adoption of air purifiers in the market and hampers its growth.
Furthermore, the lack of awareness of the usage of air purifiers, especially in rural areas, can prevent them from considering air purifiers as a viable solution for improving indoor air quality. Thus, the high installation and maintenance cost of air purifiers with a lack of awareness could hamper the market growth of air purifiers.
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