Air Purifier Market Size Worth $28.3 Billion By 2027 | CAGR: 13.5% | Polaris Market Research

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Jan 13, 2021, 07:30 ET

NEW YORK, Jan. 13, 2021 /PRNewswire/ -- The global air purifier market size is expected to reach USD 28.3 billion by 2027 according to a new study conducted by Polaris Market Research the market is anticipated to register a CAGR: 13.5% from 2020 to 2027. Key factors driving market growth include growing awareness about the hazardous effects of air pollution coupled with rising expenditure on healthcare. In addition to this, the growing urban population, increasing incidents of respiratory diseases, and rising technological advancements are further supporting the substantial growth of the air purifier market. Increasing demand for the use of pollution management instrumentation across the globe, especially in developing nations is creating growth avenues for the market players. Furthermore, rising government initiatives for improving the quality of air to ensure good health for people anticipated to boost the demand for air purifiers.

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The commercial segment led the global market for air purifiers owing to the increasing demand for air purifiers in academic establishments and workplace areas. Business applications include hospitals, offices, hotels, malls, academic centers, and conference centers.
The High-efficiency Particulate Air (HEPA) technology segment holding a prominent market share with major revenue generation. The segmental growth is attributed to key features of HEPA filters that enables capturing large airborne particles.
Increasing environmental norms by governments and rising adoption of technologically advanced products to improve air quality acting as key driving factors for the air purifier market.
The online distribution channel is estimated to grow at the fastest rate during the forecast period on account of the availability of a wide range of products at lower prices. The COVID-19 pandemic has further driven the growth of the segment as the majority of consumers finding it more convenient to shop online.

Air Purifiers can be defined as a valuable and the most sophisticated systems used for air purification. The market is very much organized even in developing economies such as India and China as well. The market in the Asia Pacific region is expected to grow at a CAGR of around 14% from 2020 to 2027. The product in the past found acknowledgement only in the premium segment but now is finding demand from mid-segment as well. The industry rivalry in the market is currently high and is expected to further get fueled due to the rising demand post pandemic.

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Regional Insight & Trend Analysis

North America followed by Europe dominated the air purifier market and is predicted that these regions will continue their dominance over the forecast period. These regions are early adopters of air purifiers and players working in the industry are constantly working on the development of novel air purification methods. The Asia Pacific is expected to grow at an impressive growth rate owing to surging air pollution levels in Asian countries, especially in India and China, fueling demand for air purifiers. Also, increasing disposal income of consumers is further complementing exponential market growth in the region.

Market Participants

Manufacturers are investing more in the development of high quality and low-cost air purifiers to attract the middle-class segment. In addition to this, they are also giving more emphasis on the promotion of their brands and running campaigns to create awareness among people regarding the benefits of air purifiers. Daikin Industries, LG Electronics, Inc., Honeywell International, Inc., Hamilton Beach Brands, Inc., Ltd., Unilever PLC, Whirlpool Corporation, Koninklijke Philips N.V., Trotec GmbH, Panasonic Corporation, and LG Electronics are some of the prominent players operating in the global air purifier market.

Target Audience

Supply Side: Manufacturer, Distributor, and Supplier of Air Purifiers
Demand Side: Household Application, Commercial Spaces, Educational Institutes
Regulatory Side: World Health Organization (WHO)

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Polaris Market Research has segmented the air purifier market report on the basis of type, application, residential end-use and region

Air Purifier Type Outlook (Revenue, USD Million, 2016 – 2027)

High-efficiency Particulate Air (HEPA)
Activated Carbon
Ionic Filters
Others

Air Purifier Application Outlook (Revenue, USD Million, 2016 – 2027)

Commercial
Residential
Industrial

Air Purifier Residential End-Use Outlook (Revenue, USD Million, 2016 – 2027)

Bedroom
Living Room
Kitchen
Others

Air Purifier Regional Outlook (Revenue, USD Million, 2016 – 2027)

North America

U.S.
Canada
Mexico

Europe

France
Germany
UK
Italy
Spain

Asia Pacific

China
India
Japan
South Korea
Australia

Central & South America

Brazil
Middle East & Africa
UAE
Saudi Arabia

South Africa

List of Key Players of Air Purifier Market

Koninklijke Philips
Panasonic Corporation
LG Electronics Inc.
Toshiba International Corporation
Hitachi Power Solutions Co., Ltd.
Unilever
Holmes Products Corp.
Daikin
Hamilton Beach Brands, Inc
Honeywell International Inc

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