Air Purifier Market to grow by USD 5.58 billion from 2023 to 2027, 3M Co. and AustinAir to emerge as some of the key companies, Technavio
NEW YORK, March 22, 2024 /PRNewswire/ -- The air purifier market is set to grow by USD 5.58 billion from 2023 to 2027 progressing at a CAGR of 7.3% during the forecast period. 3M Co. offers air purifiers such as Filtrete Smart Room air purifier FAP SC02W medium room, Filtrete Smart Room air purifier FAP ST02 large room. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by Technological innovation and portfolio extension leading to product premiumization.
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Market Report Coverage | Details |
Page number | 177 |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 7.3% |
Market growth 2023-2027 | USD 5,580.84 million |
Market structure | Fragmented |
YoY growth 2022-2023(%) | 6.85 |
Regional analysis | APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution | APAC at 38% |
Key countries | US, Canada, China, Japan, and Germany |
The report on the air purifier market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
Market Dynamics
The technological innovation and portfolio extension leading to product premiumization are driving growth in the market:
Technological innovation and product premiumization are driving market growth amid increasing competition. Advances in technology have changed customer preferences, leading to demand for innovative products. Rising disposable income prompts higher spending on purifiers. Investments in innovative materials and aesthetics further boost market value sales.
- Smart, connected air purifiers are a growing trend, driven by increasing demand for advanced solutions. These user-friendly devices offer enhanced features and aesthetics, enabling easy operation and air quality monitoring via apps, thus boosting market growth.
- A major challenge in the market is the long product lifecycle, leading to reduced replacement frequency. Air purifiers in humid environments risk damage from rusting. Manufacturers counter this with stainless steel or high-grade plastic materials, but this prolongs product lifespans, limiting market growth.
Market Segmentation
The air purifier market analysis includes Application,Technology and geography landscape. This study identifies the Introduction of smart, connected air purifiers, Increase in M and A and strategic alliances, Increase in demand for energy-efficient air purifiers as one of the prime reasons driving the air purifier market growth during the next few years.
The commercial segment, including spaces like educational institutions, shopping malls, and workplaces, is poised for significant growth. Purifiers are increasingly utilized in various commercial settings to improve indoor air quality. Rapid urbanization, particularly in countries like India, is driving demand, with the commercial segment valued at USD 5,891.31 million in 2017.
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters
Companies Mentioned
- 3M Co.
- AllerAir Industries Inc.
- Americair Corp.
- AustinAir
- Blue Star Ltd.
- Breville Pty Ltd
- Camfil AB
- Daikin Industries Ltd.
- Dyson Group Co.
- Eureka Forbes Ltd.
- Hamilton Beach Brands Holding Co.
- Havells India Ltd.
- Honeywell International Inc.
- IQAir AG
- Koninklijke Philips N.V.
- LG Electronics Inc.
- MIDEA Group Co. Ltd.
- Panasonic Holdings Corp.
- Samsung Electronics Co. Ltd.
- Whirlpool Corp.
3M Co.- The company offers air purifiers such as Filtrete Smart Room air purifier FAP SC02W medium room, Filtrete Smart Room air purifier FAP ST02 large room.
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Analyst Review:
The Air Purifier Market continues to witness significant growth driven by increasing concerns over indoor air quality and respiratory health. With a wide range of purification methods and technologies, air purifiers effectively remove allergens, dust, pet dander, smoke, and airborne pathogens, promoting cleaner and healthier indoor environments.
HEPA filters, activated carbon filters, UV-C light, ionizers, and ozone generators are among the key technologies employed in air purifiers to sanitize and sterilize the air. These filtration systems target various pollutants, including pollen, mold spores, volatile organic compounds (VOCs), bacteria, and viruses, thereby alleviating respiratory issues and improving lung health.
Smart air purifiers equipped with air quality sensors and IoT connectivity enable real-time air quality monitoring and automation, enhancing user convenience and effectiveness. The market offers a diverse range of portable, whole-house, commercial, and industrial air purifiers tailored to different settings and requirements, including residential, office, hospital, and automotive applications.
Leading brands such as Dyson, Honeywell, Blueair, and Coway lead the market with innovative products and marketing strategies. As consumer preferences evolve towards energy efficiency and environmental sustainability, air purifier manufacturers focus on product innovation and regulatory compliance to meet market demand. The industry's competitive landscape, characterized by online and offline sales channels, retail partnerships, and e-commerce platforms, drives continuous advancements and market expansion to address growing health consciousness and indoor pollution concerns.
Market Overview:
The market is experiencing significant growth due to the increasing awareness of indoor air quality and the rise of technologically improved air purifiers. These advanced devices utilize wireless technologies such as Wifi and Bluetooth for indoor air quality monitoring and basic settings adjustment. Consumers in metropolitan regions, residential applications, construction activity, and fast urbanization areas are particularly interested in cleaners that effectively remove contaminants like unpleasant smells, pollen, dangerous chemicals, and allergens. Airborne diseases, allergies, and secondhand tobacco smoke are major concerns for asthmatics and allergy sufferers, making active purifiers with negatively charged ions and passive air purification units essential. Dust and particulate matter, including high-efficiency particulate air (HEPA) filters and ultraviolet germicidal irradiation (UVGI), are crucial components in purifiers. Product innovation continues to drive the market, with energy efficiency and cost-effectiveness becoming increasingly important. Energy consumption, fuel sources, and carbon emission are significant factors, with stringent laws and regulations pushing for energy-efficient electronic goods, such as home electronics and energy star-rated appliances. Filter changes, maintenance, and replacement frequency, including carbon filter expenses and HEPA filter particle removal and gas removal capabilities, are essential considerations for consumers seeking value for money.
Related Reports:
- The China residential air purifier market size is estimated to grow at a CAGR of 5.4% between 2022 and 2027.
- The Residential Portable Air Purifier Market size is estimated to grow by USD 4.12 billion at a CAGR of 12.2% between 2022 and 2027.
Key Topics Covered:
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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