An air purifier is a device that removes contaminants from the air in a room to improve indoor air quality. These devices are commonly marketed as beneficial to allergy sufferers and asthmatics and reduce or eliminate second-hand tobacco smoke.
Dust, pollen, mold spores, and dust mite feces can act as allergens, triggering allergies in sensitive people. Smoke particles and volatile organic compounds (VOCs) can pose a health risk.
Exposure to various components such as VOCs increases the likelihood of experiencing symptoms of sick building syndrome.
By Technology, the market is segmented into HEPA, Activated Carbon, and Others.
HEPA segment grabbed the largest market share with 61.37% in the year 2019, followed by the activated carbon segment.
The HEPA segment by technology holds the most significant market share of the Air Purifiers market owing to the increasing prevalence of asthma, rise in allergies globally, and demand for clean air as they have the ability to remove smoke, pollutants, and other small partials including pollen, dust mites, mold spores, and pet dander, which makes the technology widely popular in both residential and commercial end-users.
The residential segment occupied the leading place in the market share with 52.55% in 2019, followed by the commercial segment.
The Residential segment dominates the end-user segmentation due to the rising household air pollution levels and increasing awareness of airborne dust-related diseases, such as asthma, cancer, COPD, and allergies, leading to the growing adoption of the product by home-owners and increasing demand for energy-efficient air purifiers.
The North America Air purifier Market is valued at USD 5216.78 Million in 2019 and is estimated to grow at a CAGR of 7.55% during the forecast period (2020-2027)
North America holds a significant market share with 31.81% in 2019, owing to greater disposable income, massive industrialization, environmental protection laws, and increased awareness to curb pollution.
Furthermore, The U.S. construction industry is rising rapidly with annual expenditures of over (US)$1,231 billion. Construction projects are taking place all over the country, making the industry’s outlook a positive one.
The Asia Pacific Air purifier Market is valued at USD 4808.24 Million in 2019 and is estimated to grow at a CAGR of 10.20% by 2027.
Asia Pacific is expected to grab the highest CAGR rate with 10.20% in the forecast period, followed by Middle East & Africa.
The industry's growth is mainly due to rapid industrialization, highly flourishing residential and commercial building sectors, and growing middle-class population and spending power that lead to the increasing demand for better lifestyles.
According to IBEF, India's real estate sector is expected to contribute around 13% of the country’s GDP by 2025. Gross office absorption in top Indian cities has increased 26 percent year-on-year to 36.4 million square feet between January-September 2019.
Market Dynamics
Drivers
- Growing demand for air purification devices
- Rising pollution levels
Restraints
- Huge cost for maintenance and installation
- Emission of ozone and other pollutants from air purifiers
Growing demand for air purification devices
The global Air Purifier Market is primarily driven due to growing awareness and demand for air purifiers globally. Increasing awareness concerning the health advantages of air purifiers is expected to boost the market worldwide. Growing health consciousness in people and improved living standards are the crucial factors that made air purifiers a daily requirement in most countries. Air purifiers improve the indoor atmosphere of a room and ensure the population's strength in urban situations experiencing migraines, cardiovascular diseases, and respiratory diseases. Air Purifiers' demand has been growing at more than 100 percent month-on-month due to the worsening air quality globally. Having some of the highest pollution levels in the emerging economies is also the major reason for increasing the demand for air purifiers globally.
Philips in South Asia has been undertaking marketing for the last few years to create awareness about indoor air pollution. Many startups are making efforts to purify the air with innovative ideas. Apart from big brands like LG, Samsung, Daikin, Phillips, Panasonic, even FMCG companies like HUL Pureit, Amway, and every day have ventured into air purifiers.
Companies are keen to keep production costs low to attract consumers.
The involvement of large multinationals fuels the growth of the sector and provides employment opportunities globally; the demand for skilled and semiskilled workers at these companies is rising. Air purifier manufacturers are expected to increase their production units globally. A leading retailer in India, Vijay sales announced that they sold 500 units of air purifiers in India's national capital region for the year 2017 and expected to double their units for the coming years.
Geographical Analysis
The collective revenue of Air purifiers by North America is expected to generate USD 54158 Mn by 2027.
The North American region held a 31.82% market share in 2019 and is expected to reach 29.58% by 2027.
The North America Market consists of the US, Canada, and Mexico regions.
North America holds a significant market share, owing to greater disposable income, massive industrialization, environmental protection laws, and increased awareness to curb pollution.
Furthermore, The U.S. construction industry is rising rapidly with annual expenditures of over (US)$1,231 billion.
Construction projects are taking place all over the country, making the industry’s outlook a positive one. Strict mandates imposed by the US Environment Protection Agency on curbing air pollution are a major factor propelling many people in the US to install air purifiers in places wherever possible.
For instance, under the Clean Air Act (CAA), the EPA limits certain air pollutants, including setting limits on how much can be in the air anywhere in the United States.
The EPA has also launched newsletters and guide books to create awareness amongst consumers about air purifiers and air cleaners.
Regional companies are focusing on new product launches and technological advancements to improve their market growth and contribute to their entities' growth.
For instance, in May 2019, LG Electronics USA is joining forces with the Asthma and Allergy Foundation of America (AAFA) to kick off Asthma & Allergy Awareness Month in May by launching the new "LG Home Free" campaign designed to show the millions of Americans who suffer from asthma and allergies how LG products can reduce allergens in the home. With a product portfolio CERTIFIED asthma & allergy friendly® by AAFA that features air purifiers.
Moreover, in 2019, Honeywell, a leader in Connected Building technologies, introduced Electronic Air Cleaners (EACs) for commercial buildings in India. The new line expands Honeywell’s comprehensive range of indoor products that help purify the air in environments where people spend most of their time – at home, in cars, and now, in buildings like office spaces.
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