Global air purifier market is majorly driven by government policies and initiatives to reduce air pollution. As per the United States Environmental Protection Agency (EPA), the act named ‘Clean Air Act’ was introduced in 1990 to set National Ambient Air Quality Standards for pollutants considered harmful to public health and environment.
london, London -- (SBWIRE) -- 01/13/2020 -- Air Purifier Market delivers a succinct analysis on industry size, regional growth and revenue forecasts for the upcoming years. The report further sheds light on significant challenges and latest growth strategies adopted by manufacturers who are a part of the competitive spectrum of this business domain.
The leading market players mainly include Koninklijke Philips N.V., Honeywell International Inc, Sharp Corporation, COWAY Co., LTD., Panasonic Corporation, Blueair AB, IQAir AG, Camfil AB, Samsung Electronics Co. Ltd., Whirlpool Corporation
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Global air purifier market is valued at approximately USD 8.2 billion in 2017 and is anticipated to grow with a healthy growth rate of more than 10.6% over the forecast period 2018-2025. Increasing awareness about environmental degradation and government efforts to promotes sustainable development are some key trends that are responsible for the wide adoption of air purifier globally.
Global air purifier market is majorly driven by government policies and initiatives to reduce air pollution. As per the United States Environmental Protection Agency (EPA), the act named 'Clean Air Act' was introduced in 1990 to set National Ambient Air Quality Standards for pollutants considered harmful to public health and environment.
The Act indicates two types of national ambient air quality standards. Primary standards offer public health protection, including protecting the health of population such as elderly, children and asthmatics. Also, the secondary standards offer public welfare protection that includes protection against damage to animals, crops, vegetation and building. Similarly, as per the World Bank Organization in June 2018, China is the world's largest emitter of greenhouse gases. Concerned with the adverse environmental and health consequences of air pollution, the Government of China is actively working to implement the series of mitigation plans.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Filter type (HEPA, Ion & Ozone, Electrostatic Precipitators, Activated Carbon, Others), By End-user (Residential, Commercial, Industrial, Medical)
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To support this, in March 2016 the World Bank has approved funds of $500 million as loan to China to control air pollution across the country. These investments would support technological advancements in sensor technology. As a result, the demand & adoption of air purifier would increase thereby, aiding the growth of the market over the forecast period of 2018-2025. However, high cost and release of byproducts is the major factor that impede the growth of the Air Purifier market over the forecast period.
On the basis of segmentation, the air purifier market is segmented into filter type and end-user. The filter type segment of global air purifier market is classified into HEPA, ion & ozone, electrostatic precipitators, activated carbon and others of which HEPA accounts for the largest contributing segment owing to the imperative role of HEPA in the abatement of ambient as well as household air pollution. Based on end-user segment, global air purifier market is diversified into residential, commercial, medical and industrial of which commercial sector holds the leading position in the market as photocatalytic oxidation purifiers are being increasingly used in the HVAC filters by the limiting the entry of unconditioned air into building space. Also, the residential segment is expected to emerge as a fastest growing segment owing to the increased carbon emissions and growing health consciousness.
The regional analysis of air purifier market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America have occupied major share in the global Air Purifier market. The major reasons for the dominance of North America are increasing carbon emissions, rising prevalence of respiratory diseases and development of innovative air purifiers. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific region is witnessed owing to rising infrastructure development such as energy-related and constructions projects and growing awareness about environmental pollution.
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