Growing technological advancement in the consumer electronics industry across the globe is expected to drive the market in the forecast period.
NEWARK, DE / ACCESSWIRE / September 14, 2022 / The global air purifier market is expected to secure US$ 26.0 Billion while exhibiting a 7.8% growth rate during the forecast period. The market is estimated at USD 12.3 Billion in 2022. The growth of the market can be attributed to the increasing advancement in consumer electronics industry.
Deteriorating air quality in major cities across the world and the resultant surge in various chronic ailments have fuelled the demand for air purifiers. Competition prevailing in the air purifier market will therefore increase in the coming years. The demand for air purifiers for homes and offices is predicted to increase significantly over the forecast period.
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The growing air pollution in urban areas and increasing airborne diseases drive the sales of the air purifier market. Also, the advancements in consumer electronics and overall high demand for smart home appliances have created a conducive environment for sales of air purifiers. Increasing online penetration of leading air purifier manufacturers will also aid growth in the market. In addition, the rise in disposable income and purchasing power parity has shifted the demand of consumers towards enhanced products, which is further expected to fuel market growth.
Key Takeaways from the Market Study
From 2022 to 2232, the market demand expanded at a CAGR of 7.8%
By technology, HEPA to accumulate a market share of 39.5% in 2022
By end-use, the commercial segment dominates the market with a share of 54.5%
North America to emerge as a promising market, capturing nearly 6.9% CAGR during the forecasting period
The air purifier market in East Asia is expected to grow at a CAGR of 5.5% during the assessment period
"Growing technological advancement in the consumer electronics industry across the globe is expected to drive the market in the forecast period. Also, the growing installation of air purifiers in schools, hospitals, and other institutions is projected to play a vital role in strengthening the market."
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Players in the global air purifier market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:
In October 2020 - Koninklijke Philips N. V. announced "The Urban Living Series," a new line of air purifiers in India. These air purifiers feature VitaShield and AeraSense Intelligent technologies for superior indoor pollutant class filtration.
In September 2020 - LG Corporation held the first-ever virtual exhibition to demonstrate how LG appliances may be utilised to improve home living. This virtual exhibition has aided the company in showcasing its brand offering to a bigger audience at the same time.
In September 2021- Panasonic Corporation announced that through collaboration with Professor Emeritus Yoshio Higashiyama of Yamagata University, it has developed a new nanoe™*2 X device that generates 100 times more*1 Hydroxyl (OH) radicals than the conventional nanoe™*3 device. As a result, the latest nanoe™ X device delivers increased effectiveness in air purification and deodorization in indoor spaces.
Know More about What the Air Purifier Market Report Covers
Future Market Insights offers an unbiased analysis of the global air purifier market, providing historical data for 2017-2021 and forecast statistics from 2022-2032.
To understand opportunities in the air purifier market, the market is segmented on the basis of Product Type, Charger Type, Feature, End User, and Sales Channel across six major regions. Request Report Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-14224
About the Consumer Products Division at Future Market Insights
The Consumer Product team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
3. The Massive Impact of the Crisis
3.1. An economic and labor market shock impacting the production, consumption and investments
3.2. Impact of declining global growth on unemployment based on three scenarios, world and income groups
Explore FMI's Extensive Coverage on Consumer Product Domain:
GCC Air Purifiers Market Share : The demand for air purifiers in GCC is increasing owing to the increasing cases of respiratory disorders, dry weather, and air pollution. Moreover, effective marketing campaigns by key market players.
Consumer Electronics Market Size : The consumer electronics industry is quite dynamic in nature as trends come and go at a faster pace.
India Air Treatment Products Market Forecast : The air treatment consumer durable product includes hot air blowers, air conditioners, automatic washing machine, microwave, oven, automatic washer dryers, hair dryers, refrigerators, dishwashers and others.
Cotton Candy Maker Market Growth : In 2022, the global cotton candy maker market is estimated to be valued at US$ 107.2 Bn. The market is anticipated to reach nearly US$ 169.3 Bn by 2032, with a CAGR of 4.7% from 2022 to 2032.
Military Boots Market Demand : The global military boots market is expected to be around US$ 4.3 Billion in the year 2022 and is projected to witness a CAGR of 4.6% by 2022-2032.
Drop Cloth Market Value : The global drop cloth market is likely to reach US$ 771.2 million in 2022 and be valued at US$ 1,087.9 million by 2032.
Gaming Gadgets Market Analysis : According to FMI, the gaming gadgets market is expected to be worth US$ 71,305.3 million by 2022 and US$ 156,774.9 million by 2032.
Electric Skateboard Market Overview : The global electric skateboard market is slated to reach US$ 1,931.8 Million in 2022, and is further likely to reach US$ 3,525.39 Million by the end of the 2022-2032
Menstrual Cup Foam Wash Market Outlook : The global menstrual cup foam wash market size is estimated to reach ~US$ 20.0 Mn in 2022. Sales are expected to increase at a robust 9.6% CAGR from 2022 to 2032
Pet Daycare Market Volume : As per the recently released data by Future Market Insights (FMI), the pet daycare market is approximately US$ 3.7 Billion in 2022 and is projected to reach US$ 6.7 Billion by 2032
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FUTURE MARKET INSIGHTS, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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