global dehumidifier market is expected to be valued at US$2.97 billion by 2020. The report, titled “Dehumidifier Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020"
Albany, NY -- (SBWIRE) -- 01/05/2016 -- Dehumidifiers are machines designed to remove extra moisture and retain the preferred level of humidity in a given space. They are generally used in basements, attic, and crawl spaces to get rid of moulds, damps, and musty odors. In addition, dehumidifiers are also utilized for health and comfort purposes in commercial and residential spaces. Some of the critical uses of dehumidifiers are in life boats, pump rooms, platform legs, painting and preservation industry, thruster rooms, and pipe tunnels.The global dehumidifier market was worth US$1927.1 million in 2013 and is anticipated to touch US$2966.6 million by the end of 2019, exhibiting a progressive 6.4% CAGR between 2014 and 2020.
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The global market for dehumidifiers has been segmented on the basis of their applications into the categories of industrial, residential, and commercial. The industrial sub-segment includes the construction industry, the food and beverage industry, cold storage, and others (manufacturing processes and pharmaceuticals). The construction industry is the largest contributor to the dehumidifier market, recording 37.7% of the total industrial application in terms of revenue in 2013.
Nevertheless, the cold storage segment is anticipated to record the highest growth rate during the forecast period. The growth of the cold storage segment is driven by rigid government regulations focusing on global warming and reduction of food wastage throughout the supply chain, cold storage, and food and beverage industry. In addition, commercial users are also expected to drive this market in the long run as many industries have realized the benefits of moisture control/prevention that would help propel demand. This category includes users such as schools, hospitals, cinemas, restaurants, and department stores.
Heat Pumps Product Segment to Exhibit 6.5% CAGR from 2014 to 2020
Another segmentation of the global dehumidifier market is done on the basis of its types, which are desiccant dehumidifiers (chemical absorbent dehumidifiers), refrigerant dehumidifiers (ventilating dehumidifiers), and heat pumps.In 2013, desiccant dehumidifiers (chemical absorbent dehumidifiers) led the global dehumidifier market, thanks to demand mainly contributed by hotels, office buildings, medical centers, restaurants, and the food and beverage industry. On the other hand, heat pumps are anticipated to exhibit substantial growth at a 6.5% CAGR between the years 2014 and 2020. This rising growth is a result of a growing preference for energy-efficient dehumidification solutions. In addition to it, rigid government regulations are compelling the use of energy-efficient products, which is boosting the market growth for heat pumps. These heat pumps are expected to be more energy-efficient than other dehumidifiers in the global market
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Asia Pacific to Dominate Global Dehumidifiers Market in the Forecast Period
The global dehumidifier market has been geographically segmented into four broad regional markets, which are Europe, Asia Pacific, North America, and Rest of the World. In 2013, North America dominated the market for dehumidifiers; moreover, the demand for dehumidifiers from this region is anticipated to rise through the forecast period. The dominance of North America is due to the increasing number of restaurants and hotels. The rising numbers have resulted in increase in demand for dehumidification solutions in the region. Nevertheless, Asia Pacific is expected to exhibit the highest growth in the forecast period in terms of revenue. This growth would be driven by the tremendous use of dehumidifiers in the food industry, construction, and cold storage.
Stiff Competitive Vendor Landscape
The global dehumidifier market is experiencing intense competition owing to the high profits it bears. Some of the prominent players of the market are De'Longhi Appliances S.r.I, Electrolux (Frigidaire), Whirlpool Corporation, Honeywell International, Inc., Comfort Aire (Heat Controller), LG Electronics Inc., Haier Group, Thermo-Stor LLC, Sunpentown International, Inc., and General Filters, Inc. Many new players are expected to enter the market in order to expand their business horizon. Currently Honeywell International, Inc., has been providing dehumidifiers integrated with HVAC systems.
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