New York June 26, 2019 - According to a new report by Research on Global Markets, the global air purifier market is expected to reach approximately USD 6.18 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 5.2% during 2018-2023. The demand for air purification systems is driven by increasing concerns regarding poor indoor air quality (IAQ), and growing ailments associated with air pollution.
According to the report, the global air purifier market is classified on the basis of the filter, end user, and region. Despite its many benefits, there are a couple of drawbacks of air purifiers as well. Based on the filter type, the market is segregated into high efficiency particulate air filters, activated carbon, ionic filters and electrostatic precipitators. The HEPA filters segment dominated the residential air purifiers market in 2018 and is expected to remain in a dominant position during the forecast period. HEPA filters in residential air purifiers help to trap the air pollutants and aids in providing relief from allergens. Activated carbon accounted for more than a quarter of a global share in 2018. Ionic filters and electronic precipitators account for 37% of the global air purifier marker, showing moderate growth during the 2018-2023 period.
Geographically, the demand for residential air purifiers has risen in countries such as Brazil, India and China due to the rise in the adoption of air purifiers and the amount of indoor pollution. Asia Pacific accounted for a majority of the market share for residential air purifiers in 2018. India and china are the leading countries in the adoption of residential air purifiers, along with the growing urban population share in the Asia Pacific region countries. In the Americas, increase in adoption of air purifiers equipped with HEPA based filter system to eliminate dust and smoke from indoor air is helping maintain a momentum of market growth. The Middle East and Africa is slated to be the fastest growing region over the estimated period as it continues to invest in construction and other infrastructure related activities. Europe accounts for a steady demand of air purifiers due to its increasing health benefits.
Technological innovations and portfolio extensions is leading to product premiumization. The vendors who operate in the global air purifier market are actively engaged in product innovation and portfolio extension to gain market share and profits. With the decrease in quality of air in both the inside and outside environment, there is demand or highly efficient and innovative cleaning technologies among consumers, and companies working in this industry are doing their best to launch advanced air purifiers with improved functions.
Key highlights of the report:
1. Global market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), geography-wise market revenue (USD Bn), and market attractiveness analysis
2. Market attractiveness analysis, and geography-wise market revenue (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
3. Qualitative analysis of the global drivers and challenges affecting the market and its segments
4. Porter’s five forces analysis.
5. Value chain analysis
6. Market segmentation based on filter type (high efficiency particulate air [HEPA], activated carbon, electrostatic precipitator, and ionic filters) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
7. Competitive landscape
For more information, download Global air purifier market: https://www.researchonglobalmarkets.com/pressrelease/post/global-air-purifier-market-to-be-worth-usd-6.18-bn-by-2023
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