Air Purifiers Market size worth over $30 BN by 2027
Air Purifiers Market size is set to surpass USD 30 billion by 2027, according to a new research report by Global Market Insights Inc.
Global Market Insights Inc. has recently added a new report on the air purifier market which estimates the market valuation for air purifiers will cross USD 30 billion by 2027. Increasing health concern among consumers is one of the significant reasons attributing toward industry growth.
The packaged air cleaners market size is set to surpass USD 3.5 billion by 2027. Increasing use of packaged air cleaners in manufacturing, warehouses, and assembly workspaces will propel product demand. Packaged air cleaners provide clean, efficient & safe workspace owing to their ability to remove vapors, smoke, dust & fumes from industrial facilities. Growing demand for manufactured goods along with increasing attention toward workers safety at workplace has increased the demand for air cleaners to maintain safe & clean workplace, which will propel industry growth.
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The global air purifiers market size from non-residential application is poised to reach USD 20 billion by 2027. Increasing adoption of air purifiers in non-residential buildings, including commercial, office, institution, and healthcare facilities, will boost product demand. Commercial and public buildings, such as airports, halls, museum, hotels & restaurants, have increased the footfall, which leads to particulate contaminants and unwanted odors. This should fuel product demand for non-residential applications to improve health and comfort of individuals, which represents growth opportunities during the forecast timeframe.
The air purifiers market demand from online sales channel is expected to exceed USD 10 billion by 2027. Online websites increase consumer awareness regarding new designs and innovations in air purifiers, which should accelerate product sale from online distribution channels. Also, promotional discounts through online purchases and rapid penetration of internet should stimulate market growth.
The Europe air purifier market revenue is likely register over 10.5% CAGR from 2021 to 2027 on account of rising infrastructure development. The product will witness demand owing to increasing construction activities and harmful emissions from industries. Air purifiers are used to remove harmful gases in industrial facilities, thereby preventing worker exposure to toxic gases. Rapid surge in the number of respiratory disease cases will propel product demand, thus strengthening business growth.
Some major findings of the air purifiers market report include:
- The electronic air filters market should grow at a CAGR of over 12.5% owing to their effectivity in the removal of microscopic impurities from air such as smoke, dust, pet dander & mold spores and the ability to prevent recirculation of particles throughout the home.
- The residential applications exceeded USD 3 billion in 2020, mainly due to the increasing awareness toward adverse health effects due to indoor contaminants.
- Industrial applications are likely to cross USD 4.5 billion by 2027. The protection of employees and sterile environment in manufacturing industries are likely be the key contributors for growth.
- Online sales channel is likely to surpass USD 10 billion by 2027 owing to increasing number of online shoppers, as online shopping offers the convenience of shopping from the comfort of the homes.
- Latin America product demand is majorly driven by residential, healthcare, and pharmaceutical applications.
- The market is competitive and includes manufacturers such as General Filters, Inc., Tornex, Inc., Trane, Great Innovations, Airfree, Jimco A/S, American Air Filtration, Camfil AB, Daikin Industries Ltd., Afpro filters, Mann Hummel, Parker Hannifin, and Honeywell International, Inc.
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Partial chapters of report table of contents (TOC):
Chapter 3 Air Purifiers Industry Insights
3.1 Industry segmentation
3.2 Industry ecosystem analysis
3.2.1 Vendor matrix
3.2.2 Distribution channel analysis
3.2.2.1 Collaborations/Partnerships
3.2.2.2 Distributors
3.2.3 Impact of COVID-19 on industry value chain
3.3 Raw material analysis
3.4 Regulatory landscape
3.4.1 U.S.
3.4.1.1 ASHRAE (The American Society of Heating, Refrigeration, and Air Conditioning Engineers)
3.4.1.2 The U.S. Department of Energy
3.4.2 Europe
3.4.2.1 COMMISSION DELEGATED DIRECTIVE (EU) 2015/863 of 31 March 2015 amending Annex II to Directive 2011/65/EU of the European Parliament and of the Council as regards the list of restricted substances
3.4.2.2 COUNCIL DIRECTIVE 96/61/EC of 24 September 1996 concerning integrated pollution prevention and control
3.4.3 China
3.5 Technology Landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Rise in global pollution levels causing an increase in airborne diseases
3.6.1.2 Technological advancements in manufacturing sector along with high R&D spending
3.6.1.3 Rapid growth of the construction industry coupled with increasing levels of indoor residential air pollution
3.6.1.4 Increasing livestock production and rearing activities
3.6.2 Industry pitfalls & challenges
3.6.2.1 High efficiency mechanical air filters used in residential applications may reduce air flow
3.7 Innovation & sustainability
3.8 Growth potential analysis, 2020
3.8.1 Emerging business model
3.8.1.1 Collaboration/Partnership
3.8.1.2 Acquisitions
3.8.1.3 New product launches
3.9 Porter's analysis
3.9.1 Bargaining power of suppliers
3.9.2 Bargaining power of buyers
3.9.3 Threat of new entrants
3.9.4 Threat of substitutes
3.10 PESTLE analysis
3.11 Competitive landscape, 2020
3.11.1 Company market share analysis, 2020
3.11.2 Strategy dashboard
3.12 COVID-19 impact on air purifiers market, by application
3.12.1 Residential
3.12.2 Non-residential
3.12.3 Industrial
3.13 COVID-19 overview on global economy
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Original Source: Air Purifier Market to Hit US$ 30 Bn by 2027; Global Market Insights Inc.
