The global Air Purifier market size was valued at USD 11.68 billion in 2020 and is anticipated to grow at a CAGR of 12.9% during the forecast period. Rising health concerns due to the deteriorating air quality and rising awareness pertaining to it, increasing inclination towards preventive healthcare, and technological advancements achieved resulting in development of advanced products are some of the factors that have greatly benefitted the market growth in the past and is expected to do so over the forecast period. Competitive strategies adopted by market participants is also one of the important factors propelling market growth.
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Companies have undertaken customized research in order to create a product that perfectly matches the respective regional needs. Customized product offering and proper product placement are some of the critical success factors in the industry. Diversification of product portfolio along with support at each step of the value chain is a key concern for industry participants.
In the recent past, the urban population has increased across the globe. The subsequent lifestyle changes and increasing disposable income has resulted in rise in demand for these products from residential segment as well. Manufacturers, especially those operating in Asia Pacific countries, have expanded their product portfolio, manufacturing and distribution capabilities in order to cater to rising demand from tier 2 as well as tier 3 cities. In order to gain increased market share, they are increasing their regional footprint by infusing advanced technologies in their products, spending more on marketing and advertisement, and are now promoting their purifier brands aggressively.
The COVID outbreak has introduced significant market opportunities to industry participants. Manufacturers are ramping their production as well as product portfolio as they are anticipating rising demand from a wide variety of sectors such as hotels, hospitals, residences, commercial spaces, among others. The pandemic outbreak has resulted in the air Purifier being attributed the “Must-have appliance” tag thus marking a significant shift from luxury item category.
The market is primarily segmented on the basis of Type, By Application, By Residential End-Use, and geographic region.
By Residential End-Use
By Region Type
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High-efficiency Particulate Air (HEPA) emerged as the largest market segment in the year 2020. This is a type of mechanical air filter. The operation of this filter is through allowing forced air to pass through a fine mesh which is capable of capturing harmful particles which includes smoke, tobacco, dust mites, pet dander and pollens. These are mainly used in the portable filters which are suitable for the small area of operation or for the household purposes. The key advantage of using this type of the product is that this can be used against various allergies ranging from pollen and dust mites among others.
Activated Carbon is widely used in the condition where the odor and harmful gases are to be filtered. This type of filters possesses special property which allows removing gaseous pollutants, odors, and volatile organic compounds (VOCs). This consist of layer of charcoal which traps gas molecules. Few key advantages of installing the activated carbon air filters is that the system is capable of avoiding harmful gas, VOCs and odor. However, after a significant amount of time and the application of the product where this is used, the carbon filters need replacement for effective operation of the product. In addition, the filter is not capable of capturing particle pollutants such as dust and pollen. Owing to this the system is majorly used along with the HEPA filter to increase the effectiveness.
Commercial application segment is estimated to lead the overall market owing to consistent usage in the offices and other commercial applications. The product is widely used in recreational facilities, movie theaters, shopping malls, conference centers, hotels, educational centers, hospitals, and offices. The usage of the product across the offices has particularly increased to maintain the quality of indoor air. In addition, the computer system used in the commercial spaces require the use of the air purifier for proper operation of the system. The educational organization, R&D centers and hospitals are also among the key customers of the air filters owing to ability of the product to remove pathogens, pollens and other impurities from the air.
The residential segment involves usage of the product across the residential property which includes small and large homes. Increasing urbanization across the globe along with the growing population has resulted in degradation of the air quality. This has significantly increased the need for the product usage across the residential segment. The need has been also significantly boosted with the number of the disease occurrence in people.
Bedroom segment is expected to grow at an anticipated CAGR of 13.1% over the forecast period. Majority of the time spent in the home is in the bedroom due to time required for healthy sleep. The usage of the product in the bedroom has significantly seen a boost owing to the factor that the major of the elderly person prefers the usage of the product during the sleeping duration. Considering the bedroom segment, the product is mainly considered to be bought as a portable device, whose position can be changed easily as per the requirement.
Living room segment dominated the market in the year 2020 and is expected to continue to do so over the next seven years. The product used in this category is mainly the large sized purifiers. These are mainly used for larger space and requires huge quantity of filtration. The consumer which are mainly spending the day in the living room prefer these types of the product. The consumer segment for these includes the home staying people including the patients, and elderly people along with youth.
Strong demand from the U.S. is driving the North America regional market growth. The market for the U.S. is expected to reach 7.18 billion by 2027. Presence of major industry players, support extended by government agencies along with high awareness is benefitting the regional market growth. In addition, easy availability of products, broad product portfolio and competitive marketing strategies adopted by market participants are also pushing the North America market growth.
Asia Pacific market emerged as the largest market in 2020 and is expected to maintain its dominance over the forecast period. The APAC market is anticipated to grow at a CAGR of 13.3% during the forecast period. The market in the region is highly dynamic in nature with frequent mergers as well as acquisitions and is characterized by aggressive strategic initiatives adopted by key industry participants. Rising urbanization in the region, increasing per capita income, deteriorating air quality in key cities, rising demand from commercial sector as well as residential sector in the region are some of the factors that have resulted in high demand of the product in the region.
Air purifier manufacturers are aware of the regulations imposed in various countries and are manufacturing Purifier that meet the prescribed regulations. Indoor air purification manufacturers design products that meet EPA, OSHA, EURO, and other regulations in order to adapt to the regulatory scenario pertaining to indoor pollution control in the region.
Some of the key industry participants operating in the market include Hamilton Beach Brands, Inc, Daikin, Holmes Products Corp., Unilever, Hitachi Power Solutions Co., Ltd., Toshiba International Corporation, LG Electronics Inc., Panasonic Corporation, Koninklijke Philips N.V., and Honeywell International Inc., among others.