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(EstateNewsWire.com, September 25, 2019 ) Market Overview
The Global Air Purifier Market is expected to grow at a CAGR of 8.54% to reach a market value of USD XX million by 2026.
An air purifier is a device that removes contaminants from the air and improves air quality. Air purifiers are also considered beneficial for people with allergies and asthmatics, and at reducing or eliminating second-hand tobacco smoke.
For instance, Classic 203 Slim by Blueair is a lightweight and portable residential air purifier. It has a compact fan design and huge filter surface, and delivers solid performance by removing allergy and asthma triggers.
The commercially graded air purifiers are manufactured as either small stand-alone units or larger units that can be affixed to an air handler unit (AHU) or to an HVAC unit found in the medical, industrial, and commercial industries.
The global Air Purifier Market is primarily driven due to growing awareness about the adverse effects of air pollution on health.
The World Health Organization (WHO) estimates more than Four million deaths worldwide every year are attributed to ambient air pollution.
Nearly 90% of air-pollution-related deaths occur in low- and middle-income countries, with nearly 2 out of 3 occurring in WHOs South-East Asia and Western Pacific regions. 94% are due to noncommunicable diseases such as cardiovascular diseases, stroke, chronic obstructive pulmonary disease and lung cancer.
Air pollution also increases the risks for acute respiratory infections.
As intake of polluted air can have severe health effects such as asthma, COPD, or increased cardiovascular risks, most countries have strengthened laws to control the air quality and mainly focus on emissions from automobiles.
Air purifiers removes smoke particles which pose a risk to health. Moreover, efficient air purifiers have the capacity to capture some bacteria, virus, and DNA damaging particles.
Air Purifier has some disadvantages such as the high initial and maintenance cost.
An air purifier can range from $200 to $2,000. In addition, the cost of filter change and its maintenance is also very high as air purifier needs regular filter change which can be in every three months to six months.
These replacement filter costs ~$100. Huge cost associated with air purifiers is expected to negatively affect the growth of the market.
By end-user, the global Air Purifier Market is segmented into residential, commercial, and others.
In 2018, the residential segment accounted for the highest market share, and is expected to dominate the market during the forecast period, due to increased demand for smart air purifiers in the residential sector.
By technology, the global Air Purifier Market is segmented into HEPA (High efficiency particulate air), Activated Carbon, and Others (UV Technology-Based Air Purifier Market, Negative Ion Air Purifier Market, and Ozone Air Purifier Market). HEPA technology is expected to dominate the global market throughout the forecast period. HEPA air filters are the most efficient type of air filter available.
These are usually made of fiberglass and are 99.97% effective at removing particles as small as 0.3 microns. HEPA air filters are widely used in many high technology industries that demand high air quality.
By geography, the global Air Purifier market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and Middle East and Africa (MEA).
North America holds the significant market share, owing to greater disposable income, massive industrialization, environmental protection laws and increased awareness to curb pollution.
However, Asia Pacific is expected to dominate the market due to growing urbanization and the increasing pollution during the forecasted period, growing at CAGR of ~12%. Increasing pollution level in metropolitan cities of such as Delhi in India, Beijing in China, owing to increasing number of vehicles is expected to fuel market growth. Rising health awareness regarding benefits of air purifier can increase product demand in the region.
Introduction of new and advanced devices by local manufacturing companies can further impel market growth in the coming years. For instance, Xiaomi recently launched Mi Air Purifier 2S. This smart air purifier can be controlled from anywhere using Mi Home App. It can check the air quality, temperature and humidity, adjust the fan strength and set a timer to power on the purifier. The App also automatically notifies you when it's time to replace the filter.
Key players are adopting strategies such as mergers and acquisitions, partnerships, regional expansion, and product launches to stand out as strong competitors in the market.
Global Air Purifier Market is a competitive market with the presence of various global and regional players in the market. The major players include Honeywell International Inc., Koninklijke Philips, Sunbeam Products Inc., Xiaomi Corporation, and Blueair (Unilever). Other key players in the market include Coway, Whirlpool Corporation, Americair Corporation, Sharp Corporation, and Dyson Technology Limited.
In 2018, Honeywell, a leader in Connected Building technologies, today introduced Electronic Air Cleaners (EACs) for commercial buildings in India. The new line expands Honeywells comprehensive range of indoor products that help purify air in environments where people spend most of their time at home, in cars, and now, in buildings like office spaces.
In August 2016, Blueair, a world leader in air purifying solutions with acclaimed leading-edge filtration technologies and design, was acquired by Unilever.
In 2018, Blueair, together with the Fairmont Beijing Hotel made the prestigious hotel, the worlds first Blueair Zone, a safe-haven for breathing clean, healthy, germ-free air.
In June 2017, Fairmont Beijing became the first hotel in the world to provide guaranteed clean air for guests and staff. All 222 guest rooms and all conference rooms, corridors, and other public areas such as Spa and VIP lounge, were equipped with state-of-the art Blueair Pro air purifiers, sustainably designed to improve the health and well-being of guests and staff. In addition, Blueair air quality experts regularly inspect and test the air to ensure that even during pollution peaks, the air quality at Fairmont Hotel will remain healthy.
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