An air purifier is a device that removes airborne bacteria and hence reduces the chances of air born diseases. They are especially necessary to use in houses to quickly clear allergens as well as other particles such as smoke, odor, dust, and pollen. This home appliance comes with a number of filters to make sure it completely cleans the polluted air. Air purifiers are usually small in size so they can be conveniently placed and do not require specific installation.
With the rise in consumer knowledge for better air quality, there are significant opportunities for manufacturers and companies to come up with a wide range of products to attract consumers. Owing to changing consumer preferences and strong market competition, several manufacturers are bringing new product variants with special features such as ozone generators, UV light technology, and electrostatic precipitators.
Increasing Consumer Awareness Regarding Health Concerns Encouraging Adoption of Air Purifiers
The rise in demand for the global air purifier market is primarily driven by an increasing rate of patients suffering from respiratory disorders. In addition to this, government initiatives of spreading awareness for controlling air pollution, improve deteriorating indoor air quality, and shift in lifestyle preferences are responsible for a surge in demand for air purifier products across the globe. Increasing cognizance among consumers about major advantages from the use of air purifiers is expected to have a positive impact on the growth of the market. The lockdown measures imposed by several governments across the world to contain the spread of COVID-19 have significantly increased the sales of home appliances, especially air purifiers. Additionally, the rising prevalence of cardiovascular diseases is upholding the demand for air purifiers.
- In terms of technology, the High-efficiency Particulate Air (HEPA) purifiers are anticipated to dominate the global market owing to their efficiency in removing almost 99.97% of pollutants from the air. The reliability and high quality of HEPA to remove airborne particles are boosting product penetration.
- The commercial segment is leading the market growth generating the largest market share thanks to a rise in the demand for air purifiers in academic establishments and workplace areas. Leading established players working on advanced R&D systems to meet the growing demand for innovative products in commercial spaces.
- The residential segment is experiencing a surge in demand on account of an increase in awareness regarding the need for reducing indoor air pollution to limit environmental health risks. The demand for residential purifiers is projected to rise in highly populated cities from North America and Asia Pacific regions.
- Philips, a leading multinational corporation has launched its latest Urban Living Series to expand its product portfolio. According to the company these advanced purifiers come with VitaShield and AeraSense Intelligent Purification System technology specially designed for urban homes to remove indoor air pollutants.
North America Set to Emerge as the Major Revenue Generating Region for Air Purifier Market
North America is poised to hold the largest share of the air purifier market due to increasing health consciousness among people and the presence of well-established industry players. The market in this region is estimated to grow at a significant rate owing to increased healthcare expenditure led to a rise in the adoption of air purifiers. A high-income population in developed countries of Europe is expected to propel the market growth in the region. The market in the Asia Pacific region is anticipated to progress at a prominent growth rate on account of rising industrialization in the region. In addition to this, an increase in the number of entrants looking to strengthen their foothold in the region and the active presence of leading players is creating healthy market competition, which in turn beneficial for the overall growth of the market.
Future Growth Prospect
Competitors are capitalizing on increased outbreaks of airborne diseases due to toxic levels of air pollution. They are investing in the research and development of newer products that can help in the prevention of communicable diseases. Additionally, industrial applications are creating lucrative opportunities for manufacturers of air purifiers to set sustainable revenue streams. Several organizations are aiming at strategic collaborations and partnerships with NGOs to spread awareness among people about the need for air purifiers.
Deep-dive Insights on Air Purifier Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/air-purifier-market