There are many factors that are driving the global air purifiers market. Growing motorization and industrialization has raised the pollution level at a rapid pace, which is expected to be a major driver of the global market. Increase in pollution has also fuelled instances of airborne diseases, which in turn, is also anticipated to boost the market. Rising health consciousness, along with the advancement in air purification technology, which has made air purifiers very effective against pollution, is expected to be a key driver of the market.
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There are, however, some factors that are hampering the market’s growth. The high price of air purifiers have kept them out from the reach of the masses. These are positioned as luxury products rather than necessity, even in the most polluted regions in the world. This factor is estimated to be a major restraint of the market. Moreover, air purifiers also release harmful byproducts, which is anticipated to hamper the market. Furthermore, the high investment required for consistent R&D to stay ahead of the competition is also expected to hinder the market.
The market also has points of opportunities. Increasing internet penetration has opened new channels of sales such as Alibaba and Amazon for air filters. These new channels are advantageous to both end-users and vendors as they eliminate the role of middlemen in the value chain. Moreover, an increasing number of air purifier manufacturers are presently launching new models to cater to individual demands of different customers. Furthermore, favorable government initiatives are also expected to increase the sale of air filters.
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The global air purifiers market can be segmented based on technology, end-use industry, and geography. Based on technology, the market can be segmented into photo plasma, ultraviolet germicidal irradiation, thermodynamic sterilization (TSS), polarized-media electronic, activated carbon, ionizer purifiers, photocatalytic oxidation (PCO), titanium dioxide, ozone generators, and others. In terms of end-use industry, the market can be divided into commercial, residential, industrial, and medical. Based on end-use industry, significant demand is expected to come from business segment primarily driven by the HVAC industry. The residential segment is expected to expand at a prominent growth rate due to the consistent increase in consciousness about health and pollution.
Based on geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to hold a major share of the global market due to the presence of a large number of major industry players and rising health consciousness among people in the region. The market in the region is also expected to expand at a significant rate, due to the contribution of countries such as the U.S. and their increasing adoption of air purifiers. Europe, primarily driven by high income population in developed economies, is expected to follow North America in terms of market share. Europe is expected to be followed by Asia Pacific in terms of market share. The market in Asia Pacific is anticipated to expand at a prominent growth rate due to the increase in pollution due to rising industrialization in the region. The region has numerous cities that are badly hit by rising vehicular pollution. China and India are expected to contribute significantly toward to the expansion of the market in the region.
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Major players operating in the global air purifiers market are Alen Corporation, AllerAir Industries, Austin Air Systems Ltd., Beijing YADU Science & Technology Co., Ltd., Blueair AB, COWAY Co., LTD., Camfil AB, Daikin Industries, Ltd., Eureka Forbes Ltd, Honeywell International, Inc., IQAir, Jarden Consumer Solutions (Europe) Limited, Koninklijke Philips N.V. and LG Electronics Inc. Other prominent players of the market are Panasonic Corporation, Rabbit Air, Samsung Electronics Co. Ltd., Sharp Corporation, WINIX Inc., and Whirlpool Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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