An air purifier is a device that purifies airborne toxins and particulate matter. The use of air purifiers is to minimize the health risks associated with breathing air contaminated with pollen grains, harmful gases, and emissions.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
North America was the largest region in the air purifierss market in 2023. Asia-Pacific was the second-largest region in the global air purifiers market share. The regions covered in the air purifiers 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
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.
Key Industry Players
Major companies operating in the air purifiers market report are LG Electronics Inc., Coway Co. Ltd., Daikin Industries Ltd., Dyson Ltd., Whirlpool Corporation, Xiaomi Corporation, Resideo Technologies Inc., Koninklijke Philips N.V., Panasonic Corporation, Samsung Electronics Co. Ltd., Sunbeam Products Inc., YADU, Midea, Beiangtech, IQ Air, Honeywell International, Camfil, Sharp, Blue Air (Unilever), Teqoya, Dexwet True Filter Solutions, Tion, Americair Corporation, Wynd Technologies, Samsung Electronics America, Haier Group, Electrolux, GE Healthcare, Viking Range, Nordic Air Filtration, ResMed Inc., Phillips, Elaraby Group.
The air purifiers market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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