The global air purifier market is expected to surpass a valuation of US$ 10 Bn in 2021. It is expected to grow at a CAGR of approximately 11.3% through 2031.
Over the past ten years, membrane technology has grown more and more common in air purifiers. To achieve effective air filtration, membrane filters are created by combining an electrospinning/netting method with a receptive substrate design. Air purifiers using ePTFE and UPE membranes have astonishing efficiency and pressure decrease.
As health awareness rises, people’s understanding of their fitness and health is growing. It is widely known that air pollution has a role in the development of respiratory diseases such acute respiratory infections and chronic obstructive pulmonary disease.
Because modern lifestyles, urbanisation, and industrialisation cannot be sacrificed, initiatives to lower emissions and improve air quality are becoming more popular. The most effective way to remedy poor air quality is air purifiers.
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The air purifier market has seen a lot of claims made by manufacturers in order to promote their brand and level up the competition. As a matter of fact, consumer purchase patterns are often influenced by company claims.
Producers and brand owners have focusing on improving efficiency and efficacy of their products to woo increasing number of consumers. LG, for example, stated that in 2020, it will produce a one-of-a-kind cover for the PuriCare Wearable Air Purifier that will use the company’s UVnano sterilisation technology to kill 99.99 percent of germs in under 30 minutes using UV-C LED rays.
Air Purifier Market Outlook Compared to Growth Registered in 2016-2020
The outbreak of the novel COVID-19 dampened sales prospects due to restrictions impos4ed on, which also caused disruptions in supply chains activities across various industries. Contrary to this, the unprecedented pandemic outbreak also made people more cautious about air they breathe.
The focus on disinfection and living in a hygienic environment was at its peak during COVID-19, which has helped the air purifier market to recuperate from the pandemic-induced restrictions.
In the coming years, the demand for air purifier will get stronger, especially as consumers exhibit higher willingness to maintain healthy indoor air quality. Driven by this, the global air purifier market will exhibit 11.3% CAGR between 2021 and 2031 in comparison to 8.5% CAGR exhibited in 2016-2020.
The demand for air purifier for home and offices is predicted to increase significantly over the forecast period. Increasing online penetration of leading air purifier manufacturers will also aid growth in the market.
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Key Takeaways from the Air Purifier Market Study
In terms of technology, HEPA filters account for a major share in the air purifier market. Demand in this category is expected to grow at a CAGR of 4.3% in 2020.
Leading companies in the air purifier market will cover nearly 42% of sales.
The U.S. will account for maximum demand in North America, sealing its dominance in the global market.
Demand in the U.K. will grow at an impressive pace, pushing overall growth in the Europe market.
“As competition continues soaring, market players are likely to focus on making air purifiers smarter. They are integration concepts of artificial intelligence to enable improve machine-human interaction,” says an FMI analyst.
Impact of COVID-19 on the Market
The current pandemic outbreak has created numerous challenges on the part of supply side and demand side. The temporary restrictions imposed by regional governments on the movement have impacted supply chains drastically. Besides this, the shift from discretionary spending to essential goods has further negatively impacted the market growth
On the flip side, the change in consumer buying habits has encouraged a shift from store based retailing to online retailing, facilitating a wider market reach. This is expected to aid in the global market recovery.
Who is Winning?
Leading manufacturers of air purifier are focusing on aggressive promotional strategies, advertisements, and new product launches to drive sales growth of air purifier globally.
Major players present in the air purifier market are Koninklijke Philips N. V, LG Electronics Inc., Xiaomi Corporation, Afpro Filters B.V., Dyson Ltd., Godrej Appliances, Condair Group AG, Daikin Industries, Ltd., Honeywell International Inc., Whirlpool Corporation, Japan Air Filter Malaysia Sdn. Bhd., Hitachi Limited, Dyson Technology Ltd, and Panasonic Corporation among others.
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