The Air Purifiers by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Air Purifiers, The air purifiers market size has grown rapidly in recent years. It will grow from $2.02 billion in 2023 to $2.29 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to rise in air pollution levels, increasing health awareness, technological advances, and increased prevalence of respiratory diseases, increased geriatric population, and economic growth in emerging markets.
The air purifiers market size is expected to see rapid growth in the next few years. It will grow to $3.94 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to higher incidence of allergies, rising health consciousness, changing climate conditions, increasing prevalence of obstructive sleep apnea, coronavirus impact, and growing urbanization . Major trends in the forecast period include developing smart air purifiers to capitalize on the changing consumer trends and growing popularity of these products, focusing on developing energy-efficient products, multi-functional products, portable products, wearable air purifiers, increasing focus on m&a growth strategies to expand customer base, and investing in providing automated air-purifiers.
The rising concern for airborne diseases is driving the air purifier market. An increase in health issues such as asthma, allergies, and other breathing disorders due to airborne diseases encourages consumers to invest in air purifiers at commercial and residential locations. For instance, according to a report by the American Lung Association, in 2021, 4 in every 10 people in the US will live with polluted air. Further, the 22nd annual State of the Air report shows that people of color were 61% more likely to live in a country with unhealthy air than white people. As per the department of statistics in Singapore, there were 246 cases of airborne diseases reported across Singapore. Therefore, the increasing prevalence of airborne diseases contributes to the growth of the air purifier market.
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The air purifiers market covered in this report is segmented –
1) By Type: Dust Collectors, Fume & Smoke Collectors, Other Types
2) By Technology: HEPA Filter, Activated Carbon, Other Technologies
3) By End-User: Residential, Commercial
The use of smart air purifiers through the smartphone-enabled application is a key trend in the market. Smart air purifiers allow the air quality to be monitored and managed from a smartphone application, which provides a live reading of quality data. For instance, in August 2021, IKEA, a Switzerland-based company operating in the home furniture, introduced STARKVIND, a smart air purifier. STARKVIND smart air purifier is designed for indoor use that can be controlled and scheduled via the IKEA Home smart app, with the built-in air quality sensor it has five different fan speeds and an auto-mode and can adjust the fan speed correlated with enclosed space.
The air purifiers market report table of contents includes:
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