The air purifier market the world Witness continued growth since the outbreak of COVID-19. Increasing awareness of the benefits of clean air and proper ventilation in managing all kinds of allergies and airborne diseases and reducing virus transmission is creating huge market demand from residential and commercial establishments. Furthermore, rapid urbanization and industrialization in various economies are increasing the adoption of air purifiers.
With increasing investments by industry players in expanding product offerings and expansion, the market is expected to gain rapid traction over the next few years. In this regard, Market Future Research (MRFR) claims that the global air purifier market is expected to increase at a CAGR of 10.24%, with a value of USD 24.78 billion in the forecast quarter of 2022-2030
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Competitive Analysis:
Highly competitive, the air purifier market seems fragmented due to the presence of many prominent players. To gain greater market share and create new markets, industry players adopt strategic approaches, such as mergers and acquisitions, collaborations, and others. They invest significant R&D in product development and keep up to date with new technologies.
For example, on August 06, 2021, IKEA, a leading furniture brand in Sweden, launched its new 2-in-1 air purifier – Starkvind, which can easily be turned into a coffee table. The new air purifier that can be used as a side table ensures that household appliances can enjoy clean air even in narrow homes. The IKEA Starkvind air purifier is also available as a standalone device suitable for small to medium rooms.
The players involved in the market are Sharp Corporation (Japan), Panasonic Corporation (Japan), Dyson (Singapore), Honeywell International Inc (USA), Unilever (UK), Daikin Industries, Ltd (Japan), Xiaomi Inc (China), COWAY CO., LTD (South Korea), Koninklijke Philips NV (Netherlands), Blueair (Sweden), IQAir (Switzerland), and Samsung (South Korea), among others.
Developments in online distribution channels/e-commerce are increasing the sales in the market
The global air purifier market outlook looks extremely positive. Factors such as an increase in the incidence of airborne infectious diseases and viral infections and the growing awareness among consumers about the depletion of clean air quality due to the increasing levels of pollution in the environment are increasing the size of the air purifier market.
Besides, the increasing life-threatening epidemics such as H5N1 bird flu, H1N1 swine flu, and the COVID 19 pandemic are positively impacting the growth of the air purifier market. Developments in online distribution/e-commerce channels are fostering market growth, bringing advanced air purifiers with wide price ranges.
Additionally, the encouraging rise in the consumer electronics industries across the world is positively impacting the market growth. An increase in the purchasing power of consumers, alongside the enormous economic growth worldwide, affects the penetration of air purifiers. Market growth is also driven by major innovations in household and industrial electrical appliances, and rising uses of air purifiers in residential and commercial spaces.
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High costs of air purifiers are restricting the market growth
A slowdown in the economy due to the complexity of the corona virus and the prohibitive prices of air purifiers are major growth restraint factors that are currently affecting the health of the market. However, manufacturers are focusing on reducing the overall production cost of air purifiers. This, as a result, will support market growth throughout the review period, resulting in affordable products in the market.
Also, strict regulations and high spending on healthcare are expected to affect the growth of the air purifier market. People are spending more and more on air purifiers to clean various indoor pollutants concentrated in home and office settings. Furthermore, growing technological innovations and expanding population define the growing market landscape.
Effects of COVID 19 on the market
The emergence of COVID 19 has had a positive impact on the air purifier industry. The epidemic fostered an interest in hygiene and immunity. On the one hand, where the manufacturers faced the consequences of the lockdown mandates, such as obtaining raw materials and key components, pulling workers from the closures and bringing final products to the markets, on the other hand, the epidemic promotes the use of air purifiers.
Concerns regarding poor air quality encouraged production capacities, accelerating the rise of the market. Large manufacturers seem to be making significant investments in research and development and market expansion. According to estimates, the air purifier market will witness a huge increase in revenue in 2021 and beyond.
Market segmentation
The market is segmented into product types, sales channels and regions. The product type segment is divided into HEPA, activated carbon air, ion and ozone generator, UV air and other purifiers. Among these, the HEPA purifier segment holds the largest market share, witnessing an increase in household sales. The sales channels segment is subdivided into online and offline. The region segment is sub-divided into Asia Pacific, Americas, Europe and Rest of the World.
regional analysis
The Asia Pacific region dominates the global air purifier market, mainly due to the huge presence of key players in the industry offering a variety of innovative products. Moreover, the growing awareness of the effects of clean air on health, along with the increasing prevalence of airborne diseases, such as asthma, allergy, pet dander, and others, is creating significant market demand.
Rising infection levels and low immunity disorders in children, the elderly and sick people add to the market value. Furthermore, the expansion of online and offline sales channels is increasing the market share of air purifiers in the region.
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