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Report
Air Purifier Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 125 Pages I Mordor Intelligence
The air purifier market was valued at USD 16.2 billion in 2020, and it is expected to reach USD 30 billion by 2027, registering a CAGR of more than 12% during the forecast period of 2022-2027. The COVID-19 pandemic has increased the demand for air purifiers, with the growing awareness of COVID-19 associated respiratory ailments and the rising need to curb cross-contamination. Factors such as increasing airborne diseases and growing health consciousness among consumers are driving the market. Despite the various technological developments, air purifiers have been perceived as a luxury item in both underdeveloped and emerging economies, particularly in the commercial and residential segments, owing to the high installation and maintenance costs. This, in turn, is expected to hinder the growth of the market studied.
Due to its critical applications in semiconductor, pharmaceutical, food & beverage manufacturing, medical, and other industrial facilities, the high-efficiency particulate air technology is expected to dominate the market during the forecast period.
Growing air pollution in the densely populated Asia-Pacific region has emerged as a major challenge, with damaging impacts on the environment, public health, and agricultural crop yields. However, such problems are likely to create several opportunities for the air purifier market in the future.
Asia-Pacific is expected to dominate the market during the forecast period, with the majority of the demand coming from countries like China, India, etc.
Air Purifier Market Trends
The High-efficiency Particulate Air (HEPA) Segment is Expected to Dominate the Market
Mechanical air filters, such as HEPA filters, remove particles by capturing them on filter materials. They capture large airborne particles, such as dust, pollen, mold spores, animal dander, and particles containing dust mites and cockroach allergens.
HEPA filters are a type of extended surface filter with a larger surface area and higher efficiencies for removing larger and smaller airborne particles. Moreover, these types of air filters remove respirable particles more efficiently than pleated filters. The two most common standards required for HEPA air purifiers include the capability to remove particles, i.e., 99.95% (European Standard) or 99.97% (ASME standard), which have a size greater than or equal to 0.3 micrometers.
For the last 10 years, HEPA filters have been proven across a wide range of healthcare facilities and life sciences applications to control the spread of airborne particles and organisms, such as viruses and bacteria. Many professional engineering organizations recommend HEPA filters in hospitals, infection control clinics, and other healthcare facilities to eliminate microbes and other dangerous particles.
In July 2020, VironAire announced two affordable HEPA technology-based medical-grade air cleaners for hospitals, businesses, and homes. The systems employ HEPA-13 along with pioneering 254 nm ultraviolet UV-C light for killing viruses. ?
Therefore, owing to the above points, the high-efficiency particulate air (HEPA) technology is expected to dominate the market during the forecast period.
Asia-Pacific is Expected to Dominate the Market
Asia-Pacific has been a catalytic driver for the demand in the air purifier market. In developing nations, such as India, Singapore, Indonesia, and China, industrial growth is at its peak, which is expected to drive the demand in the air purifier market during the forecast period.
Indonesia is set to build more coal-fired power plants in Jakarta, which may lead to more air pollution and increase the adoption of air purifiers. In September 2020, Sharp's air purifier equipped with plasma cluster technology, which generates positive hydrogen ions and negative oxygen ions and deactivates some types of viruses, registered a five-fold increase in sales in Indonesia. Nearly 10,000 air purifiers equipped with Sharp's plasma cluster technology were being sold every month.
On the other hand, in India, the market for air purifiers is mostly confined to northern India. In December 2021, Philips India introduced a new 3-in-1 multifunctional air purifier that comes with multifunctionality modes like purify, heat, and fan. It is equipped with the HEPA filtration system, which claims to remove 99.95% of particles of air.
The air purifier market in South Korea is expanding rapidly, largely due to surging demand, as consumers are becoming more concerned about fine dust. In August 2020, LG Electronics Co. Ltd launched a face mask with an in-built battery-powered air purifier to supply filtered air indoors and out. The air purifier contains two H13 HEPA filters. The mask has a battery of 820 mAh that offers up to 8 hours of performance in low mode and about 2 hours in high mode.
Therefore, owing to the above points, the Asia-Pacific region is expected to dominate the air purifier market during the forecast period.
Air Purifier Market Competitor Analysis
The air purifier market is fragmented. Some of the key players in this market include Daikin Industries Ltd, Sharp Corporation?, IQAir, LG Electronics Inc., and Dyson Ltd.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
4.8 Assessment of the COVID-19 Impact on the Industry
5 MARKET SEGMENTATION
5.1 Filtration Technology
5.1.1 High-efficiency Particulate Air (HEPA)
5.1.2 Other Filtration Technologies (Electrostatic Precipitators (ESPs), Ionizers and Ozone Generators, etc.)
5.2 Type
5.2.1 Stand-alone
5.2.2 In-duct
5.3 End User
5.3.1 Residential
5.3.2 Commercial
5.3.3 Industrial
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 South America
5.4.5 Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Companies Profiles
6.3.1 Daikin Industries Ltd
6.3.2 Sharp Corporation
6.3.3 Resideo Technologies Inc
6.3.4 LG Electronics Inc.
6.3.5 Unilever PLC
6.3.6 Dyson Ltd
6.3.7 Whirlpool Corporation
6.3.8 AllerAir Industries Inc.
6.3.9 Panasonic Corporation
6.3.10 Koninklijke Philips NV
6.3.11 IQAir
6.3.12 Samsung Electronics Co. Ltd
6.3.13 Winix Inc.
6.3.14 Xiaomi Corp.
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