New York, 09, Feb 2021: The global air purifier market size is expected to reach USD 28.3 billion by 2027 according to a new study by Polaris Market Research. The report “Air Purifier Market Share, Size, Trends, Industry Analysis Report by Type (High-efficiency Particulate Air (HEPA), Activated Carbon, Ionic Filters), By Application (Commercial, Residential, Industrial), By Residential End-Use (Bedroom, Living Room, Kitchen), By Regions, Segments & Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The
market is expected to witness significant growth due to the pandemic outbreak.
Air Purifier Air Purifier are widely used in residential, manufacturing
facilities & industries, hospitals & healthcare, environmental
consulting, bars and restaurants, museums, odor control, laboratory,
commercial, retail, and construction & infrastructure industry to improve
the indoor quality of air. Air Purifier filter the air that circulates through
the system. It traps and holds various types of particulates and contaminants
such as pollen, dust & dirt, bacteria & microorganisms, hair &
animal fur, fibers & lint, metal, plaster or wood particulates, mold &
mold spores, that have an effect on the health and comfort.
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Air
Purifiers can be defined as a valuable and the most sophisticated systems used
for air purification. The market is very much organized even in developing economies
such as India and China as well. The market in the Asia Pacific region is
expected to grow at a CAGR of around 14% from 2020 to 2027. The product in the
past found acknowledgement only in the premium segment but now is finding
demand from mid-segment as well. The industry rivalry in the market is
currently high and is expected to further get fueled due to the rising demand
post pandemic.
Existing
manufacturers and brands are trying hard to diversify their product portfolio
across almost all price points, are taking concentrated efforts to expand and
catalyze their R&D efforts and are investing heavily in such efforts.
Awareness creation regarding health benefits of air Purifier is a major
challenge faced by industry participants. Strengthening of distribution
channels, focus on tier-2 cities especially in developing markets, considerable
rise in marketing spend, are some of the top priorities of industry
participants.
In
addition, air purifier demand for residential sectors in the recent past was
due to the demand from consumers who were suffering from ailments such as
respiratory disorders. But post pandemic this is not the case as the product is
being viewed as a means to clean air and healthy lifestyle and is appealing to
the health-conscious consumers across the globe. The market for residential
sector is expected to reach USD 9.9 billion by 2027.
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Awareness
about the technology for manufacturing air purifier has increased the
competition in the market. The R&D division of a company plays a crucial
role in its future growth and improves its competitive potential. Activities
related to product quality improvements, innovative designs, new technology
invention, and product development are expected to provide a competitive edge
to the market players. In order to meet the ever-changing consumer
requirements, companies spend huge amounts on research & development
activities every year.
Awareness
about the technology for manufacturing air Purifier has increased the
competition in the market. The R&D division of a company plays a crucial
role in its future growth and improves its competitive potential. Activities
related to product quality improvements, innovative designs, new technology
invention, and product development are expected to provide a competitive edge
amongst the players. In order to meet the ever-changing consumer requirements,
companies spend huge amounts on research & development activities every
year.
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