The global air purifier market size was valued at USD 10.67 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.0% from 2021 to 2028. The market is expected to be driven by rising airborne diseases and increasing pollution levels in urban areas. Moreover, growing health consciousness, improving standards of living, and rising disposable income are expected to fuel the market growth.
Several governments are focusing on regulating air pollution by introducing several stringent regulations and standards for indoor air quality, which is projected to drive the industry over the forecast period. Additionally, numerous air pollution control campaigns undertaken worldwide by governments and NGOs are expected to boost market growth over the forecast period.
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Several factors such as changing lifestyle preferences, deteriorating indoor air quality, rising health concerns, and increasing awareness among consumers about the benefits associated with air purifiers are likely to drive the market over the coming years. However, the high cost of adoption and maintenance of air purifiers is expected to limit their adoption.
Key Player Mentioned:
- Honeywell International, Inc.
- IQAir
- Koninklijke Philips N.V.
- Unilever PLC
- Sharp Electronics Corporation
- Samsung Electronics Co., Ltd.
- LG Electronics
- Panasonic Corporation
- Whirlpool Corporation
- Dyson
- Carrier
Application Segment Analysis:
- Commercial
- Residential
- Industrial
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa
The governments of various countries have introduced lockdown measures to contain the spread of COVID-19. Thus, stay-at-home and work-from-home norms have further intensified the demand for air purifiers. Furthermore, there is a significant demand for air purifiers from hospitals, universities, and government agencies as consumers are exploring ways to avoid the spread of coronavirus.
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The market is highly competitive due to the presence of both multinational and regional or local manufacturers. Companies in the market offer a wide range of air purifiers sold through various channels, including e-commerce websites, company-operated websites, retailers and their websites, and distributors.
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