Air Purification Equipment Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

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Overview and Scope

The air purification equipment refers to a device used for removing contaminants from the air in a room to improve indoor air quality.

Sizing and Forecast

The air purification equipment market size has grown strongly in recent years. It will grow from $65.35 billion in 2023 to $71.33 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to increasing awareness of air quality, industrialization and urbanization, government regulations, health concerns.

The air purification equipment market size is expected to see strong growth in the next few years. It will grow to $98.79 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to sustainability and green initiatives, climate change and natural disasters, growing demand for smart homes, aging population, air quality monitoring. Major trends in the forecast period include technological advancements, smart and connected devices, hepa and advanced filtration, customization and personalization, portable and compact designs.

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Segmentation & Regional Insights

The air purification equipment market covered in this report is segmented –

1) By Product Type: Stand-Alone Air Purification Equipment, Induct Air Purification Equipment

2) By Technology: HEPA, Electrostatic Precipitators, Activated Carbon, Ionic Filters, Other Technologies

3) By End User: Residential, Commercial, Industrial

The Asia-Pacific was the largest region in the air purification equipment in 2023. Western Europe was the second largest region in the air purification equipment market during the forecast period. The regions covered in the air purification equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

Increasing health problems due to air pollution is projected to boost the demand for the air purification equipment market. Rising deaths and diseases caused by air pollution are generating higher demand for devices used for air purification to remove harmful pollutants in the air. According to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations responsible for international public health, air pollution is a major cause of death and various diseases. Air pollution is responsible for approximately 4.2 million deaths annually across the globe, mainly from heart disease, chronic obstructive pulmonary disease, lung cancer, acute respiratory infections, and stroke. In the USA alone, there are around 200,000 premature deaths annually. Moreover, air pollution is alone responsible for 29% of lung cancer, 43% of chronic obstructive pulmonary disease, 17% of acute lower respiratory infection, and 24% of stroke of all deaths and diseases worldwide. The increase in impurities in the air is expected to drive the demand for the air purification equipment market during the forecast period.

Key Industry Players

Major companies operating in the air purification equipment market include Daikin Industries Ltd., Sharp Corporation, Camfil Group, Philips Electronics N.V., LG Electronics Inc., Panasonic Corporation, 3M Company, Mann+Hummel, Honeywell International Inc., Clarcor Inc., Whirlpool Corporation, SPX Flow, Eureka Forbes, Electrocorp, Fumex Inc.

The air purification equipment market report table of contents includes: