The Residential Air Purifier Market to be valued at over $4 billion by 2032 as per Fact.MR report.
The latest analysis from Fact.MR on the residential air purifier industry provides a 10-year outlook through 2022 and beyond. The report delves into critical market characteristics such as drivers, restraints, and new opportunities. The research has been separated by product type, application, and area to show the data in a more vivid manner.
NEW YORK, Feb. 16, 2022 – Fact.MR – A market research and competitive intelligence provider: The residential air purifier marketto grow at a CAGR of 6.3% during the forecast period 2022-2032 and estimated the market valuation at USD 4.04 billion in the assessment period 2022.
Air pollution, like climate change, poses a threat to human existence. According to the World Health Organization, 9 out of 10 people breathe air that contains significant levels of contaminants. Furthermore, each year, around 7 million people die as a result of small particles in contaminated air penetrating the lungs and cardiovascular systems. Strokes, lung cancer, and heart disease are all caused by this. As a result, governments are promoting clean air policies, resulting in a rise in the use of home air purifiers.
Furthermore, the pandemic of coronavirus has compelled people to invest in keeping their surroundings clean. Because of the virus’s high rate of air transmission, residents all over the world are filtering their air before allowing it to flow within their homes.
According to the United States Environmental Protection Agency, indoor air can be two to five times more pollutant higher than outdoor air concentration. In addition, rising air pollution is adversely affecting human health. Children and older adults are more prone to being affected by air pollutants. To keep air pollutants at bay, people from the residential sector are investing in air purifiers.
By allowing clean air to circulate, air purifiers can trap viruses and germs. Air purifiers not only eliminate unwanted odors, but they also aid in better sleep. Air purifiers can also help people live longer by removing hazardous substances from the air. As a result, the demand for home air purifiers has increased.
|Base Year Value (2021A)||USD 3.8 Billion|
|Estimated Year Value (2022E)||USD 4.04 Billion|
|Projected Year Value (2032F)||USD 7.44 Billion|
|Global Growth Rate (2022-2032)||CAGR 6.3%|
- By application, HEPA filtration technology is expected to possess 40.5% market share in the assessment period owing to its effective absorbing technology.
- Portability and ease of operation is playing a crucial part in driving the demand for standalone/portable residential air purifiers. Thus, standalone/portable air purifiers are expected to hold 65% market share for residential air purifiers.
- By region, Asia Pacific is expected to hold 41.5% market revenue owing to rapid urbanization and industrialization in India and China.
- Regulatory policies set by government along with increasing demand from Mexico is positively influencing the demand for residential air purifiers. Thus, North America is expected to register a CAGR of 5.2%
- Rapid increase in air pollution owing to carbon emission from end user industries is increasing the adaption of air purifiers.
- Regulations for air quality, especially in the U.S., is increasing the sales of air purifiers.
Increasing cases of foot and mouth diseases such as HPAI and ASF are causing outbreaks. This, in turn, will hamper the growth of residential air purifiers.
The key competitors in the residential air purifiers market are concentrating on combining artificial intelligence and smart sensors to provide consumers with a comfortable and simple to use experience.
- LG Electronics has announced that it will release the Puricare AeroTower air purifying fan in December 2021, which would provide fresh air anywhere in the house. In heating, fan, and diffusion modes, the revolutionary air purifier will provide 360-degree clean air.
- Panasonic Corporation, Blueair (Unilever), Whirlpool, and Samsung are among the leading companies investing in technology and integrating artificial intelligence to make interior areas more comfortable.
Key Companies Profiled by Fact.MR
- Blueair (Unilever)
- Koninklijke Philips N.V.
- LG Electronics
- Panasonic Corporation
- Honeywell International Inc.
- Sharp Home (Sharp Corporation)
- DAIKIN INDUSTRIES, Ltd.
More valuable Insights on Residential Air Purifier Market
Fact.MR, in its report, offers a market analysis of the global residential air purifier market analysing forecast period through 2022 and beyond. This survey reveals the growth of technology in the residential air purifier Market with detailed segmentation as follows: –
- By Region:
- By Type
- In-Duct Residential Air Purifiers
- Standalone/Portable Residential Air Purifiers
- By Application
- Residential Air Purifiers based on Ionic Filters
- Residential Air Purifiers based on Activated Carbon
- Residential Air Purifiers based on HEPA
- Residential Air Purifiers based on Other Applications
- North America
- Latin America
- East Asia
- South Asia & Oceania
Get the complete report here.