Technology

Air Purifier Market Driven By Demand Surge to Grow Exceptionally

Overview

The Global Air Purifier Market is expected to gain a value of USD 31,924.3 Million by 2025 with a CAGR of 11.41% during the forecast period (2019–2025).

The report covers segmentation and the market dynamics for a better glimpse of the market in the coming years. Air purifiers are used to remove volatile organic compounds (VOCs), odors, and gaseous and particle pollutants. Moreover, air purifiers are used to eliminate airborne mold, bacteria, viruses, dust mites, and pollen from the air in both, residential and commercial applications. Unlike air filters, air purifiers emit ions to kill, neutralize, transform or otherwise render airborne toxins harmless. Additionally, they trap airborne particles within a tangible filter.

Regional Analysis

On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is anticipated to lead the air purifier market during the forecast period, followed by North America. Asia-Pacific is expected to witness excellent growth in the air purifier market, owing to biomass burning, vehicle emission, and industrial emissions. Consumers with asthma or allergies to odors, airborne viruses, dust, and other conditions are inclined toward the purchase of air purifiers because of the worse indoor air quality in Asia-Pacific. Moreover, children, the elderly, and the ailing people with low immunity are highly recommended to use air purifiers to protect themselves from the irritation of the eyes, nose, and throat, asthma, and respiratory diseases, which lead the market for air purifiers in the region.

The Global Air Purifier Market is expected to reach USD 13,527.8 million at a CAGR of over 11.41% by the end of the forecast period.

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Segmental Analysis

The global air purifier market is segmented based on product type and sales channel.

On the basis of product type, the global air purifier market is segmented into into high-efficiency particulate air (HEPA) purifiers, ultraviolet (UV) air purifiers, activated carbon air purifiers, and ion & ozone generator air purifiers. The high-efficiency particulate air (HEPA) purifiers segment is expected to dominate the market, owing to cost-efficient, compared to other types of air purifiers.

In terms of value the HEPA purifiers segment accounted for the larger market share of 57.35% in 2018, with a market value of USD 3,731.1 million; it is expected to register a CAGR of 10.93% during the forecast period.

On the basis of sales channel, the global air purifier market is segmented into online and offline. In 2018, the online segment held the largest market share of 58.72% in 2018, with a market value of USD 3,819.8 million. This value is projected to reach USD 8,216.0 million by 2025. This segment is expected to grow with the fastest CAGR of 11.96% during the forecast period.

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Some of the prominent players operating in the global air purifier market report are Dyson (Singapore), Sharp Corporation (Japan), Panasonic Corporation (Japan), Unilever (UK), Honeywell International Inc (US), Midea Group (China), COWAY CO., LTD (South Korea), Xiaomi Inc (China), Koninklijke Philips N.V. (the Netherlands), Daikin Industries, Ltd (Japan), Blueair (Sweden), LakeAir (US), IQAir (Switzerland), Samsung (South Korea), Broad Group (China), Whirlpool Corporation (US), AB Electrolux (Sweden), YADU Int’l Technology (Beijing) Co., Ltd (China), Austin Air (US), BONECO AG (Switzerland), Airgle Corporation (US), Airdogusa (US), Rabbit Air (US), and Levoit (US).

Panasonic Corporation focuses on achieving sustainable growth by expanding its overseas business, mainly in neighboring countries, such as China, South Korea, and India. Moreover, it aims to strengthen its production capabilities in the overseas sites and further expands its production units in the countries in Asia-Pacific. The company strategizes to optimize its portfolio and increases emphasis on the return on invested capital. Due to the increase in concerns regarding bad air conditions in the countries in Asia-Pacific, it aims to increase its investment in the production of air purifiers. The company focuses on strengthening its partnerships and collaborations with online ecommerce retailers to enhance its ratio of online sales in the coming years.

Unilever focuses on expansion by increasing its profits and collaborations with governments, NGOs, and other stakeholders. It is investing high amounts in collaboration and partnership with government approved distributors and ecommerce retailers to meet the changing trends and maintain a competitive advantage in the global market. The company also aims to enhance its supply chain and distribution network in the global market through collaborations. It is working on centralizing its operations through a network of global UltraLogistik control towers to improve its customer service and reduce CO2 emissions.

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