New York, NY -- (SBWIRE) -- 07/11/2019 -- Increasing concerns regarding poor indoor air quality (IAQ), and growing ailments associated with air pollution are responsible for driving the demand of air purification systems. The global air purifier market is expected to reach approximately USD 6.18 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 5.2% during 2018-2023.
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The major manufacturers covered in this report
- Sharp Corporation
- Honeywell International
- Coway Co. Ltd.
- Samsung Electronics Co., Ltd.
- Whirlpool Corporation
- L.G. Electronics
Filter type segment insights:
Based on filter type, the market has been segregated into high efficiency particulate air (HEPA) filters, ionic filters, and activated carbon and electrostatic precipitators. The HEPA filters segment dominated the residential air purifiers market in 2018, and is expected to remain dominant over the forecast period. HEPA filters in residential air purifiers help trap air pollutants and aid in providing relief from allergens. Activated carbon is the other crucial market segment, accounting for more than a quarter of the global share in 2018. Electrostatic precipitator and ionic filters account for 37% of the global air purifier market, showing moderate growth during the forecast period.
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Rise in the adoption of residential air purifiers in countries such as Brazil, China and India, has increased the demand for residential air purifiers globally, owing to the amount of indoor pollution. Asia-Pacific (APAC) accounted for majority of the market share for residential air purifiers in 2018, and the region is expected to remain a significant revenue contributor over the forecast period. China and India lead the market due to increased adoption of residential air purifiers, along with the growing urban population share in the APAC region. In the Americas, increase in adoption of air purifiers equipped with HEPA-based filter system to eliminate smoke and dust from air indoors is helping maintain the market's growth momentum. The Middle East and Africa (MEA) is slated to be one of the fast-growing regions over the estimated period of time as it continues to invest in infrastructure and other construction activities. Europe accounts for a steady demand of air purifiers due to the increasing awareness regarding its health benefits.
Global (Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru])
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The study on the Air Purifier market further blends in the best of both primary and secondary research to estimate and verify the current status of import and export, demand and supply, consumption power, spending capacity and distribution channel worldwide. The report examines the market standing of prominent manufacturers and evaluates the strategies they have adopted to stay competitive. The study also applies qualitative and quantitative techniques to assess the annual and financial performance of the top vendors and insights from market leaders. Comprehensive coverage of the recent developments including joint ventures, collaborations, investments, product launches and acquisitions and mergers form an important part of the research on the Air Purifier market for the forecast period, 2018 to 2023.
In market segmentation by geographical regions, the report has analysed the following regions-
- North America
- Middle East & Africa
- South America
Exploring growth rate over a period
For more clarity on the real potential of the Air Purifier market for the forecast period of 2018 - 2023 the study provides vital intelligence on the major opportunities, threats and challenges posed by the industry. Besides, a strong emphasis is laid on the weaknesses and strengths of some of the prominent players operating in the same market. Quantitative assessment of the recent momentum brought about by events such as collaborations, acquisition and mergers, product launches and technology innovation empower product owners, marketing professionals and business analysts make a profitable decision, reduce cost and increase their customer base.
The research provides answers to the following key questions:
- What will be the growth rate of the Air Purifier market for the forecast period, 2018 - 2023? What will be the market size for the estimated period?
- What are the prominent factors driving the Air Purifier market across different regions?
- Who are the major vendors dominating the Air Purifier industry and what are their winning strategies?
- What are the major trends shaping the development of the industry in the coming years?
- What are challenges faced by the Air Purifier market?
- What are potential opportunities for the industry for the forecast period, 2018 - 2023?
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