New York, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Market Introduction and Definition:
The global air purification market is projected to achieve a market value of US$ 28.01 Billion in 2022, with expectations of reaching US$ 142.93 Billion by 2032, reflecting a substantial CAGR of 17.7% during the forecast period from 2022 to 2032.
The market's growth is primarily attributed to the surge in the number of vehicles on the road, a consequence of urbanization, leading to elevated levels of toxic gases. Notably, the air purification market exhibited a CAGR of 3.5% in the historical period spanning 2017 to 2021. The proliferation of vehicles due to urbanization significantly contributes to the rise in air pollution.
The escalating demand for air purification market is driven by the challenges posed by global pollution levels, resulting from rapid urbanization, modernization, and industrialization. The surge in pollution has made breathable air a scarce commodity, emphasizing the crucial role of air purifiers. The exponential increase in the number of vehicles on the roads further exacerbates the issue, as the emitted fuel gases are highly harmful.
This situation presents a lucrative market opportunity for air purifiers, prompting key players and emerging market entrants to focus on deploying cutting-edge technology in air purification devices. Technological advancements, increased investment, and robust research and development efforts have contributed significantly to the expansion of the air purifiers market.
The prevalence of high levels of CO2 in developing countries such as India, Mexico, and China is primarily attributed to factors like dense population, rapid urbanization, and inadequate restrictions and monitoring of pollution regulations. The Asia-Pacific region, in particular, is witnessing a substantial movement of populations from rural to urban areas, further intensifying the challenge of rising pollution levels.
Elevate your business strategy with comprehensive market data. Request a sample report now: https://www.persistencemarketresearch.com/samples/33232
Market Scope:
| Report Coverage | Details | |
| Market Revenue 2022 | US$ 28.01 billion | |
| Projected Market Value (2032F) | US$ 142.93 billion | |
| Global Market Growth Rate (CAGR 2022 to 2032) | 17.7% | |
| Forecast Period | 2023-2030 | |
| No. of Pages | 235 Pages | |
| Market Segmentation | By Product Type, By Application, By Region | |
| Regions Covered | North America, Europe, East Asia, South ,Asia & Oceania, Latin America, Middle East & Africa | |
| Key Companies Profiled | Whirlpool Corporation, Camfil, Daikin Industries Ltd., Honeywell International Inc., Koninklije Philips N.V, LG Electronics, Panasonic Corporation, Unilever PLC, ActivePure Technologies LLC, IQAir | |
Some Prominent Drivers of Air Purification Market:
Rising Pollution Levels: Increasing pollution, stemming from rapid urbanization, industrialization, and modernization, is a significant driver. As pollution levels escalate globally, there is a growing need for effective air purification solutions to combat the adverse effects on air quality.
Urbanization and Industrial Growth: The ongoing process of urbanization and industrial expansion leads to higher emissions of pollutants. The concentration of vehicles, factories, and other sources of pollutants in urban areas creates a demand for air purifiers to mitigate the impact on public health.
Surge in Number of Vehicles: The proliferation of vehicles on the roads contributes significantly to air pollution. The harmful gases emitted by vehicles present a substantial market opportunity for air purifiers as individuals and businesses seek ways to improve indoor air quality.
Health Awareness: Increasing awareness of the adverse health effects of air pollution has led to a greater demand for air purification systems. Consumers are becoming more conscious of the importance of breathing clean air, driving the adoption of air purifiers in homes, offices, and public spaces.
Technological Advancements: Ongoing advancements in air purification technologies play a crucial role in the market's growth. Innovations such as HEPA filters, UV-C light sterilization, and smart purification systems contribute to the effectiveness and efficiency of air purifiers, driving consumer interest.
Government Regulations and Initiatives: Stringent regulations and initiatives aimed at controlling and reducing air pollution contribute to the growth of the air purification market. Government support and incentives for the adoption of clean air technologies further bolster the industry.
Increased Investment in Research and Development: Key players and emerging companies are investing in research and development to enhance the performance and features of air purification systems. This continuous innovation helps meet evolving consumer needs and regulatory requirements, fostering market growth.
Global Health Concerns: Global health crises, such as the COVID-19 pandemic, have heightened awareness about the importance of indoor air quality. The desire to create safer and healthier indoor environments has driven the demand for air purifiers equipped with features that address specific health concerns.
In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at: https://www.persistencemarketresearch.com/market-research/air-purification-market.asp
Opportunities:
Growing Awareness of Indoor Air Quality: Increasing awareness among consumers about the importance of indoor air quality provides an opportunity for the air purification market. As people become more conscious of the potential health risks associated with indoor pollutants, there is a rising demand for effective air purification solutions for homes, offices, and other indoor spaces.
Technological Advancements and Innovation: Ongoing advancements in air purification technologies offer opportunities for companies to develop and introduce innovative products. Features such as smart connectivity, real-time monitoring, and improved filtration methods create avenues for differentiation and market penetration.
Expanding E-Commerce Channels: The rise of e-commerce platforms provides a convenient and extensive distribution channel for air purifiers. Companies can capitalize on online retail channels to reach a broader customer base, enabling easier access to their products and expanding market presence.
Government Incentives and Regulations: Supportive government policies, incentives, and regulations aimed at improving air quality provide opportunities for businesses in the air purification sector. Companies that align with or benefit from these regulatory frameworks can experience increased demand for their products.
Health Concerns and Pandemic Preparedness: Ongoing health concerns, including respiratory issues and the experience of global pandemics, contribute to the demand for air purification solutions. The heightened focus on creating healthier indoor environments positions air purifiers as a crucial component of pandemic preparedness and overall well-being.
Restraints/ Challenge:
High Initial Cost: The upfront cost of purchasing air purification systems can be relatively high, posing a challenge for price-sensitive consumers. Affordability remains a key concern, particularly in regions with lower disposable income.
Operating and Maintenance Expenses: Beyond the initial investment, ongoing operating and maintenance costs, including filter replacements and energy consumption, can add to the total cost of ownership. This may discourage some consumers from adopting air purification solutions.
Limited Awareness in Some Regions: In certain regions, awareness about the importance of indoor air quality and the availability of air purification solutions may be limited. Educating consumers and raising awareness about the benefits of these systems can be a challenge.
Variable Effectiveness: The effectiveness of air purifiers can vary based on factors such as room size, the type of pollutants, and the technology used. Communicating the specific benefits and limitations of different air purification technologies can be challenging for manufacturers.
Environmental Concerns: Some traditional air purifiers generate waste in the form of used filters, which may raise environmental concerns. Balancing the need for effective air purification with sustainable and eco-friendly practices presents a challenge for the industry.
Competition with Ventilation Systems: In some cases, air purifiers may face competition from ventilation systems, which also play a role in maintaining indoor air quality. Convincing consumers of the distinct advantages of air purifiers compared to existing ventilation systems can be a challenge.
Top 10 Trends in the Air Purification Market:
- Smart Air Purifiers: Integration of smart technology and IoT (Internet of Things) features into air purifiers, enabling remote monitoring, control, and customization through mobile apps or smart home platforms.
- HEPA Filtration Advancements: Continued advancements in HEPA (High-Efficiency Particulate Air) filtration technology to capture finer particles, allergens, and pollutants, enhancing the overall efficiency of air purifiers.
- UV-C and Photocatalytic Purification: Increased adoption of UV-C light and photocatalytic technologies for air purification, targeting the elimination of viruses, bacteria, and other pathogens to enhance overall disinfection capabilities.
- Energy-Efficient Solutions: Growing emphasis on energy efficiency in air purification systems, with manufacturers developing eco-friendly and energy-efficient technologies to reduce environmental impact and operational costs.
- Multi-Functional Purifiers: Integration of multiple functions into a single device, such as combining air purification with humidification, dehumidification, or aromatherapy, providing consumers with versatile and customizable solutions.
- Portable and Compact Designs: The popularity of compact and portable air purifiers, catering to the increasing demand for solutions that can be easily moved and used in various settings, including homes, offices, and cars.
- Air Quality Monitoring: Integration of real-time air quality sensors and monitoring systems into air purifiers, allowing users to track and visualize the air quality in their environment and receive alerts or recommendations for actions.
- Customized Filtration Solutions: Offering customizable filter options to address specific concerns, such as specialized filters for allergens, volatile organic compounds (VOCs), smoke, or pet dander, providing tailored solutions for different user needs.
- UV Air Purifiers for HVAC Systems: Integration of ultraviolet (UV) air purification technology into HVAC (Heating, Ventilation, and Air Conditioning) systems, providing a comprehensive approach to indoor air quality management in larger spaces.
- Increased Focus on Sustainability: Growing attention to environmentally friendly practices, with manufacturers developing air purifiers using sustainable materials, promoting recyclability, and adopting eco-conscious manufacturing processes.
Some of the major players operating in the Air Purification Market:
- Whirlpool Corporation: Whirlpool Corporation is a multinational manufacturer of home appliances, headquartered in the United States. The company produces a wide range of products, including refrigerators, washing machines, air purifiers, and other home appliances.
- Camfil: Camfil is a global leader in air filtration solutions. The company specializes in providing air filters and air purification systems for various industries, including healthcare, commercial, industrial, and residential sectors.
- Daikin Industries Ltd.: Daikin Industries is a Japanese multinational corporation known for its expertise in air conditioning and HVAC (Heating, Ventilation, and Air Conditioning) systems. Daikin also manufactures air purifiers and other climate control solutions.
- Honeywell International Inc.: Honeywell is a diversified technology and manufacturing company based in the United States. The company operates in various sectors, including aerospace, building technologies, performance materials, and safety solutions. Honeywell is involved in the production of air purifiers and indoor air quality solutions.
- Koninklijke Philips N.V: Commonly known as Philips, this Dutch multinational conglomerate operates in various sectors, including healthcare, lighting, and consumer electronics. Philips produces a range of air purifiers and air quality monitoring devices for residential and commercial use.
- LG Electronics: LG Electronics is a South Korean multinational electronics company known for its consumer electronics, home appliances, and mobile communications. LG manufactures air purifiers as part of its home appliance portfolio, integrating advanced technologies for effective air purification.
- Panasonic Corporation: Panasonic Corporation is a Japanese multinational electronics company that operates in various sectors, including consumer electronics, appliances, and industrial solutions. Panasonic produces air purifiers designed to improve indoor air quality in homes and offices.
- Unilever PLC: Unilever is a British-Dutch multinational consumer goods company, one of the largest in the world. While Unilever is widely known for its food and personal care products, it also has a presence in the air purification market through its brand Dyson, which offers innovative air purifiers.
Key Segments Profiled in the Air Purification Market:
Air Purification by Product Type:
Activated Carbon Filtration: Air purifiers utilizing activated carbon filters are effective in removing odors, gases, and volatile organic compounds (VOCs) from the air. The activated carbon absorbs and traps these pollutants.
High-Efficiency Particulate Air (HEPA): HEPA filters are designed to capture particles like dust, pollen, pet dander, and airborne bacteria. They are highly efficient in removing small particles, making them a common choice for air purifiers.
Ionizer Purifiers: Ionizer purifiers release charged ions into the air, which attach to airborne particles, causing them to fall to the ground or be attracted to a collection plate in the purifier. This process helps in removing particulate matter from the air.
Ultraviolet Germicidal Irradiation (UVGI): UVGI technology uses ultraviolet light to destroy microorganisms such as bacteria and viruses. Air purifiers equipped with UVGI systems are effective in disinfecting the air.
Air Purification by Application:
Commercial: Commercial applications involve the use of air purifiers in public spaces, offices, hotels, restaurants, and other commercial establishments to maintain clean and healthy indoor air quality.
Residential: Residential air purifiers are designed for home use. They target common indoor pollutants, providing families with cleaner air in living spaces, bedrooms, and other areas within the home.
Industrial: Industrial air purifiers are employed in manufacturing facilities, warehouses, and other industrial settings to control air quality and remove pollutants generated during industrial processes.
Air Purification Market by Region:
North America Air Purification Market: The air purification market in North America is characterized by a high level of awareness regarding indoor air quality. Stringent regulations and a focus on technological advancements contribute to the growth of the market.
Latin America Air Purification Market: The Latin American market for air purification is influenced by urbanization, industrialization, and a rising awareness of health issues related to air quality. The market is expected to grow as these factors evolve.
Europe Air Purification Market: In Europe, increasing concerns about air pollution, coupled with a proactive approach to environmental issues, drive the air purification market. Stringent regulations and a focus on sustainable solutions contribute to market growth.
Asia Pacific Air Purification Market: The Asia Pacific region experiences rapid urbanization, industrialization, and a growing awareness of air quality issues. The air purification market in this region is driven by the need for solutions to combat rising pollution levels.
Middle East & Africa Air Purification Market: The Middle East & Africa region is witnessing an increased focus on indoor air quality, driven by urban development and industrial growth. The market is expected to expand as awareness grows and regulations tighten.
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Persistence Market Research
Teerth Technospace, Unit B-704
Survey Number - 103, Baner
Mumbai Bangalore Highway
Pune 411045 India
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com
