Product Code: 61329
The market for Air Purifiers is expected to grow at a CAGR of approximately 8.2% during the forecast period of 2020 - 2025. Factors such as increasing airborne diseases, and growing health consciousness among consumers are driving the market. Air pollution from industries is constantly emerging as a big threat to health of individuals as well as environment. In the recent years, air purifier market has witnessed a hike in demand fueled by the degrading air quality and increasing concerns towards health issues. Despite the various technological developments, air purifiers have been perceived as a luxury item in both underdeveloped and emerging economies particularly in the commercial and residential segments, owing to the high installation and maintenance cost. This, in turn, is expected to hinder the growth of the market studied.
- Mechanical air filters, such as high-efficiency particulate air (HEPA) filters, remove particles, by capturing them on filter materials. HEPA air purifiers require correctly sized fans and central ductwork. As the requirement of air purifiers is growing, the ease of availability and high efficiency of HEPA is likely to boost its demand.
- Efforts are being taken by Indian Government to create awareness among the people about pollution and its illness.This is likely to make India a hotspot for air purifier market in the coming years, and hence, is likely to create a huge opportunity for the air purifier market players.
- North America is expected to dominate the market with majority of the demand coming from the countries such as the United States and Mexico.
Key Market Trends
High Efficiency Particulate Air (HEPA) Technology to Dominate the Market
- Air purifier industry is developing at a high pace, owing to increasing environmental norms pertaining to improving the air quality and technological advancements made into this field such as the recent implementation of high-efficiency particulate air (HEPA) filters.
- HEPA filters capture large airborne particles, such as dust, pollen, some mold spores, and animal dander, and particles that contain dust mite and cockroach allergens.
- Due to increasing air toxins from industries, air quality control regulations have increased, worldwide. Automotive, chemical, coal, cement and thermal industries are the primary sources of deteriorating air quality.
- Moreover, people across the world are recognizing that just like outdoor, indoor air pollution is also hazardous. Air purifiers are, thus, slowly emerging as a need to survive the toxic air, and hence, to lead a healthy lifestyle. Therefore, awareness among people regarding degrading indoor air quality is likely to provide impetus to the market, during the forecast period.
- Moreover, the demand for air purifiers is no longer limited to residential and industrial uses; recently the commercial market has also opened up for air purifier industry.
Asia-Pacific to Witness High Growth Rate
- Asia-Pacific has been a catalytic driver in the demand of air purifier market. In the developing nations, such as India and China, the industrial revolutionization is at its peak, which is expected to drive the demand for air purifier market in both the nations.
- Compared to many other large economies, China's air purifier market is young, and is still developing. During the surveillance in 2016 and 2017, China's Administration of Quality Supervision, Inspection, and Quarantine (AQISIQ) found that 20% of air purifiers still failed compliance tests for safety, electromagnetic compatibility, and performance. Additionally, the air purifier market in China is dominated by international brands, and its market share far exceeds that of the domestic branded products.
- On the hand, in India, the market for air purifiers is mostly confined to northern India, which contributed around 75% of the annual sales of air purifiers in 2018. For the past few years, the market has been growing by more than 50%. Factors, such as growing awareness among consumers and increasing promotional activities by all major companies, have got more consumers into retail outlets in 2018.
- Among the industrialized countries, the Japanese energy sector is one of the least emission intensives, and its air quality standards are stringent. However, in February 2019, Balmuda, a Japanese high-end home appliance maker, stated that as the Japan's air purifier market is decreasing every year, and the company is planning to increase their revenues from the growing markets, such as South Korea, where they can sell 10 times more air purifiers than in Japan.
- The air purifier market in South Korea is expanding rapidly, largely due to surging demand, as consumers are becoming more concerned about fine dust. Hence, the South Korea's President's move to reduce the air pollution in the country, along with the regional cooperation with China, is expected to support the demand for the air purifiers market in the coming years.
The Air Purifier market is fragmented. Some of the key companies in the market include Atlanta Healthcare, Blue Star Ltd, Blueair AB, Crusaders India Pvt. Ltd, and Daikin Industries, Ltd.
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Table of Contents
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2025
- 4.3 Market Dynamics
- 4.3.1 Drivers
- 4.3.2 Restraints
- 4.4 Supply Chain Analysis
- 4.5 Porter's Five Forces Analysis
- 4.5.1 Bargaining Power of Suppliers
- 4.5.2 Bargaining Power of Consumers
- 4.5.3 Threat of New Entrants
- 4.5.4 Threat of Substitutes Products and Services
- 4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Technology
- 5.1.1 High-Efficiency Particulate Air (HEPA)
- 5.1.2 Electrostatic Precipitators (ESPs)
- 5.1.3 Ionizers and Ozone Generators
- 5.2 End User
- 5.2.1 Commercial
- 5.2.2 Industrial
- 5.2.3 Residential
- 5.3 Geography
- 5.3.1 North America
- 5.3.2 Asia-Pacific
- 5.3.3 Europe
- 5.3.4 South America
- 5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Company Profiles
- 6.3.1 Atlanta Healthcare
- 6.3.2 Blue Star Ltd
- 6.3.3 Blueair AB
- 6.3.4 Crusaders India Pvt. Ltd
- 6.3.5 Daikin Industries, Ltd.
- 6.3.6 Samsung Electronics Co Ltd
- 6.3.7 HSIL Ltd
- 6.3.8 LG Electronics Inc.
- 6.3.9 Eureka Industries Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS