- Market Growth.
The growth of this market is majorly driven by the growing popularity of smart homes, supportive government regulations for effective air pollution monitoring and control, increasing public-private funding for effective air pollution monitoring, rising levels of air pollution worldwide, and increasing public awareness related to the healthcare and environmental implications of air pollution.
[131 Pages Report] The residential air purifiers market is projected to reach USD 13.6 billion by 2025 from USD 9.2 billion in 2020, at a CAGR of 8.2% during the forecast period.
The growing awareness among consumers regarding air purification in the wake of COVID-19 is an opportunity for air purifier retailers to scale up their sales. Some companies are increasing the production of air quality systems with the addition of different technologies such as High-Efficiency Particulate Air (HEPA) filters, photocatalytic purifiers, activated carbon purifiers, and ionic filters.
Request Sample Pages: Residential Air Purifiers Market
The Residential Air Purifiers Market is Segmented on:
1. Technology2. Type
Based on technology, the residential air purifiers market is segmented into HEPA filters (high-efficiency particulate arrestence or high-efficiency particulate air) and other technologies. The other technologies segment comprises electrostatic precipitators, activated carbon, UV filters, and ionic filters. The HEPA segment accounted for the larger market share in 2019. The growing concern for environmental sustainability, increasing public awareness pertaining to the healthcare implications of air pollution, and the growing popularity of smart homes/ambient-assisted living has resulted in the increased adoption of the HEPA technology in the residential air purifiers market.
Based on type, the residential air purifiers market is segmented into portable/stand-alone purifiers and in-duct purifiers. The portable/stand-alone purifiers segment is expected to witness the highest growth during the forecast period. This is mainly due to the need to remove sources of pollutants or allergens from indoor air, growing popularity of smart homes/ambient-assisted living, and increasing public awareness pertaining to the healthcare implications of air pollution. Furthermore, their installation is cost-effective as compared to the in-duct systems.
Download PDF Brochure @ Residential Air Purifiers Market
The Asia Pacific market accounts for largest market share for residential air purifiers in 2019
Asia Pacific is the largest regional market for residential air purifiers. The fast adoption of advanced indoor air quality monitoring technologies, ongoing technological advancements in the field of particulate sensors, rising public-private funding and investments, and the presence of supportive government regulations are key factor driving the residential air purifiers market in Asia Pacific.
Some key players mentioned in the research report are:
Key players in the market include Daikin Industries, Ltd. (Japan), Sharp Corporation (Japan), Honeywell International Inc. (US), LG Electronics Inc. (South Korea), Panasonic Corporation (Japan), Koninklijke Philips N.V. (Netherlands), and Dyson (UK).
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.