Dehumidifier Market Expected to Reach $4.7 Billion, Globally, by 2032 at 6.6% CAGR--Allied Market Research

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Dec 13, 2023, 10:30 ET

WILMINGTON, Del, Dec. 13, 2023 /PRNewswire/ -- The dehumidifier market is driven by growth in awareness of indoor air quality (IAQ), rise in health concerns, and surge in integration of smart technology in home appliances. Moreover, rapid technological advancement in the consumer electronic industry has led to change in dynamics and made it easier for both customers and organizers to organize the market smoothly.

Allied Market Research published a report, titled "Dehumidifier Market by Product (Portable and Fixed), Application (Residential, Commercial and Industrial), and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the global dehumidifier market was valued at $2.5 billion in 2022, and is projected to reach $4.7 billion by 2032, growing at a CAGR of 6.6% from 2023 to 2032.

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Dehumidifier is a household appliance, which is designed to reduce & maintain optimal humidity levels in indoor spaces. By drawing in moist air, cooling it to condense moisture, and then releasing drier air back into the room, dehumidifiers play a crucial role in preventing the growth of mold and mildew. It improves the indoor air quality and reduce allergens such as dust mites. These appliances contribute to the prevention of structural damage, condensation-related issues, and musty odors caused by excess moisture. Moreover, dehumidifiers enhance overall comfort by creating a cooler indoor environment, offer health benefits for individuals with respiratory conditions, and help preserve valuables susceptible to damage from high humidity. Furthermore, It contribute to energy efficiency by potentially allowing occupants to feel comfortable at higher temperatures.

Prime determinants of growth

Growth of the dehumidifier industry is majorly driven by many factors. Increase in awareness about the importance of maintaining good indoor air quality has driven the demand for dehumidifiers. Consumers have recognized the role of dehumidifiers in reducing moisture levels, preventing mold growth, and improving overall indoor air quality. Moreover, various health-related concerns, including respiratory issues and allergies, have contributed to the demand for dehumidifiers. As these devices help create an environment that is less conducive to the growth of allergens and molds. In addition, consumers are increasingly seeking for compact and portable dehumidifiers that are easy to move and fit into smaller spaces.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$2.5 billion
Market Size in 2032	$4.7 billion
CAGR	6.6 %
No. of Pages in Report	288
Segments covered	Product, application, distribution channel and region.
Drivers	Rise in Indoor Air Quality (IAQ) Awareness Frequent climate change and extreme weather events Increase in health & safety regulations
Opportunities	Increase in usage of smart & energy-efficient solutions
Restraints	High initial and operating cost Rise in environmental concerns

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The fixed segment to maintain its leadership status throughout the forecast period

Depending on product, the fixed segment held the highest market share in 2022, accounting for more than two-thirds of the dehumidifier market revenue and is estimated to maintain its leadership status throughout the forecast period. Fixed dehumidifiers are part of HVAC (heating, ventilation, and air conditioning) systems, which are intended to regulate the relative humidity in a home or place of business. These dehumidifiers are integrated into the ductwork or HVAC system of the structure and are permanently installed. Moreover, customers have the opportunity to remotely manage and monitor humidity levels using smartphone apps since stationary dehumidifiers are increasingly integrated with smart home systems. Owing to rise in health & comfort concerns, permanent dehumidifiers have become more important. Joint ventures with HVAC and building automation companies, global corporate expansion, technological advancements, and public awareness to meet particular humidity control needs across a range of industries are further potential to drive the demand of fixed dehumidifiers.

The Industrial segment to maintain its leadership status throughout the forecast period

As per application, the industrial segment held the highest market share in 2022, accounting for more than two-fifths of the dehumidifier market revenue and is estimated to maintain its leadership status throughout the forecast period. High-capacity dehumidifiers are crucial in industrial applications where complicated and difficult circumstances are frequently encountered. Industrial environments employ dehumidifiers to regulate humidity levels. The end users of these dehumidifiers are manufacturing facilities, food processing facilities, pharmaceutical and biotechnology facilities, cold storage and warehouses, aerospace and aviation industries, petrochemical and refinery industries, textile and paper mills, water treatment plants, and museums. Within the industrial sector, dehumidifiers are employed for various purposes such as drying products, removing moisture, and regulating relative humidity. The primary drivers of the segment growth have been the expansion of the manufacturing sector, warehouses, and water treatment plants. Industrial dehumidifier use has increased as a result of the need for a safer & healthier work environment.

The offline segment to maintain its leadership status throughout the forecast period

Based on distribution channel, the offline segment held the highest market share in 2022, accounting for more than two-thirds of the dehumidifier market revenue and is estimated to maintain its leadership status throughout the forecast period. Physical retail operations are desirable because they allow customers to see things in person and receive personalized advice from skilled salespeople. Customer pleasure and trust have been further bolstered by immediate gratification and after-sales services. Direct engagement with communities and potential clients has been made possible by taking part in trade shows and local marketing efforts. Campaigns for product bundling, consumer education, and global market development have created opportunities for growth. Furthermore, partnerships with HVAC contractors and an emphasis on sustainability have boosted revenue and attracted eco-aware clients. Businesses have been improving in-store displays, educating staff members to be product experts, and actively participating in local marketing campaigns in order to take advantage of these trends and opportunities.

The North America to maintain its leadership status throughout the forecast period

As per region, the North America segment held the highest market share in 2022, accounting for more than one-third of the dehumidifier market revenue and is estimated to maintain its leadership status throughout the forecast period. The electrical appliance market in North America is stable, well-established, and seeing growing product penetration. Leading firms in this industry include Whirlpool, Haier, and LG Electronics. In the near future, it is expected that the dehumidifier industry will have prospects due to the expansion of the residential and industrial sectors.

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Leading Market Players: -

LG Electronics Inc.
Honeywell International Inc.
Munters Group AB
Bry-Air Inc.
Stulz GmbH
Haier Smart Home Co., Ltd.
Whirlpool Corporation
Danby Products Limited
Condair Group AG
De'Longhi Appliances S.r.l.

The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights the Porter's five forces analysis to determine the factors affecting market growth.

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