Air Purifier Market Projected to Reach USD 13.4 billion, at a 11.4% CAGR by 2030

Air Purifier Market Research Report Information by Product Type (HEPA Purifiers, UV Air Purifiers, Activated Carbon Air Purifiers, Ion & Ozone Generator Air Purifiers, and Others), By Sales Channel (Offline and Online), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030

New York, US, Feb. 23, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), "Air Purifier Market Research Report Information by Product Type, By Sales Channel, And By Region – Market Forecast Till 2030", The size of the air purifier market was estimated at USD 6.3 billion in 2022. By 2030, the market for air purifiers is expected to have grown from USD 7.0 billion in 2023 to USD 13.4 billion, with a compound annual growth rate (CAGR) of 11.4%. (2023 - 2030).

Air Purifier Market Research Insights

Positive market growth will be driven by increased air pollution in developed economies like the US, Germany, and France as well as an increase in the prevalence of airborne illnesses throughout the course of the projected period. The introduction of several rules by various governmental organizations to improve indoor air quality standards in order to control air pollution would enable the air purifier market to expand quickly.

The ongoing epidemic has encouraged the air purifier business to develop gradually. To stop the spread of COVID-19, governments from many nations have implemented a variety of programmes and policies. The trends of working from home and staying at home have increased demand for air purifiers. The market demand was further fueled by increased demand from institutions including hospitals, colleges, and government organizations.

the air purifier market and are working to incorporate numerous features into their products are,

Sharp Corporation (Japan)

Dyson (Singapore)

Panasonic Corporation (Japan)

Honeywell International Inc. (United states of america)

Unilever (UK)

Midea Group (Asia)

Xiaomi Inc. (Asia)

COWAY CO. LTD. (Korea)

Koninklijke Philips N.V. (the Germany)

Blueair (Sweden)

Among others.

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Customers were actively seeking ways to prevent coronavirus. Over the projected period, factors such as shifting lifestyle choices, declining indoor air quality, rising health concerns, and growing consumer awareness of the advantages of air purifiers will further boost market expansion.

Growing industrialisation and expanding environmental protection rules will boost the market for air purifiers. With its ability to filter dust, bacteria, mold spores, vapor components, pet food, and smoke particles, the latest generation of air purifiers is helping to boost the market for these devices.

Report Scope:

Report Metrics

Details

Market Size 2030

USD 13.4 billion

CAGR during 2022-2030

11.4% CAGR

Base Year

2021

Forecast

2022-2030

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Product Type, Sales Channel, and Region

Key Market Opportunities

Increasing prevalence of airborne diseases

Key Market Dynamics

Growing health consciousness and improving standard of living Rising disposable income and increased sales of air purifiers

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Throughout the projected period, it is anticipated that the air purifier market would expand in urban areas due to an increase in the frequency of airborne diseases. According to a number of studies, consumers must breathe clean air to avoid major health problems. The need for air purifiers would be driven by increased industrialisation along with expanding mining and construction industries in developing nations. The market's footprint will grow as a result of the environment's abundance of natural resources, underdeveloped areas, and growing number of attractive opportunities. As a result, in recent years, the CAGR of the global air purifier market has increased due to growing awareness of air pollution.

Market Segmentation

Activated carbon air purifiers, HEPA air purifiers, UV air purifiers, ion & ozone generator air purifiers, and others are included in the product type-based segmentation of the air purifier market. In 2022, the HEPA category had the lion's share, accounting for around 55–57% of the revenue generated by the air purifier market. The primary reason for this is that HEPA filters are effective in capturing airborne particles like pollen, dust, smoke, and other bio-contaminants.

The data on the air purifier market has been divided into offline and online sales channels. Due to growing customer interest in purchasing air purifiers from supermarkets/hypermarkets, convenience stores, and specialty stores, the offline channel is anticipated to have the greatest market share throughout the course of the projection period. According to studies, customers are more likely to buy things if they can physically see them. Also, salespeople are frequently trained to address and answer customer inquiries immediately. Throughout the projection term, these elements will support segmental growth.

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Regional Analysis

Because of the increasing instances of smog and air pollution as well as the increasing number of legislative laws, Europe holds the third-largest market share for air purifiers. The rise of the region will also be attributed to the increased emphasis on industrialisation and the growing understanding of the illnesses and health risks brought on by exposure to dangerous particles at work or at home. Also, the UK air purifier market grew the quickest in the European area, while the German air purifier market had the biggest market share.

From 2023 to 2030, the Asia-Pacific Air Purifier Market is anticipated to see the quickest CAGR growth. The market will expand its presence in the area as a result of factors including the growing number of installations of thorough ambient air quality monitoring systems, the creation and execution of regulatory measures, and the planning of air quality management programmes. Moreover, the Asia-Pacific region's fastest-growing market for air purifiers was in India, which also had the greatest market share.

Competitive Analysis

To occupy a larger customer base, major industry participants are anticipated to increase their expenditure on their separate research and development departments. Market leaders in air purifiers are using strategic strategies to respond to slow-moving industry changes such the introduction of new products, contractual agreements, mergers and acquisitions, increased investments, and cooperation with other companies. By concentrating on their operations and supply chains, the major companies in the air purifier sector are lowering the cost of their products.

Promoting items that customers want is the main technique used by the market leaders in the air purifier sector. The air purifier business has updated its product lineup in recent years to better serve a variety of end-use sectors.

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Xiaomi Corporation Inc. was established in April 2010 and debuted on the Hong Kong Stock Exchange's Main Board on July 9, 2018. They are a well-known producer and supplier of cutting-edge hardware, including smartphones with IoT platforms at their heart. Xiaomi is committed to developing new technologies that improve operational effectiveness and user experience. The business produces goods at constant costs and is projected to ship the third-most smartphones in 2022. With more than 526.9 million intelligent devices linked to its platform by June 2022, the firm is also recognised as the global leader in consumer AIoT (AI+IoT). Smartphones, tablets, and laptops are some of these goods. They are accessible in more than a hundred nations.

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