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Recent Update 2019: Air Purifier Market to grow at 32.4% CAGR & Expected to reach 182,101.1 Mn US$ by 2024

06-11-2019 01:24 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: InForGrowth

Air pollution leads to about 6.5 million deaths each year, making it the world’s fourth-largest threat to human health, according to a 2016 report by the International Energy Agency. Emerging economies experience the highest levels of pollution, particularly cities in India and China where growth in energy demand and pollution has gone hand-in-hand with economic growth. According to a new market report published the global air purifier market was valued at US$ 19,232 Mn in 2017 and is expected to expand at a CAGR of above 32.4% from 2018 to 2024, reaching US$ 182,101.1 Mn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the air purifier market in 2017.

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Rise in air pollution level drives the market growth driving the air purifier market across the globe.

Air pollution is the emission of toxic elements into the atmosphere by natural or anthropogenic sources. These sources can be further differentiated into either mobile or stationary sources.
Anthropogenic air pollution is often summarized as being mainly related to motorize street traffic (especially exhaust gases and tire abrasion). The World Health Organization (WHO) estimates 2.4 million fatalities due to air pollution every year. As intake of polluted air can have severe health effects such as asthma, COPD, or increased cardiovascular risks, most countries have strengthened laws to control the air quality and mainly focus on emissions from automobiles. Air quality in vehicle cabins is usually found to be worse than those typically found in homes or workplaces. Pollutants enter into the cabin via the ventilation system, also known as the heating, ventilation and air conditioning (HVAC) system. Studies have shown that vehicle cabins commonly show concentrations of toxic gases such as carbon monoxide (CO), hydrocarbons (HC), volatile organic compounds (VOC), and oxides of nitrogen (NOx) higher than safety limits set by Occupational Safety and Health Administration (OSHA) and World Health Organization (WHO). Inhibition of all these pollutants in the vehicle drives the growth of the air purifier market.

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The global air purifier market can be segmented on the basis of Technology type, Product type, Distribution Channel, End-user, and Region. Based on Technology type, the global air purifier market is further classified into HEPA Technology (High-Efficiency Particulate Air), Activated Carbon Technology, UV Technology, Negative Ion and Others. The HEPA Technology contributed the largest revenue in 2017 and is estimated to grow further during the forecast period. Based on Product type, the global air purifier market can be fragmented into Portable Air Purifiers, Whole-House Air Purifiers and Cleaners, Electrostatic Precipitators, Smart air purifier, and others.

The Portable Air Purifier contributed the largest revenue in 2017 and is expected to witness the highest growth during the estimated period.

On the basis of Distribution Channels, the market can be segmented into the online distribution channel, offline distribution channel, Specialty stores, Departmental Stores and Others. The offline distribution channel contributed the largest revenue in 2017 and is expected to witness the highest growth during the estimated period. In terms of end users, the market is segmented as residential, commercial and industrial. The industrial end-user segment contributed the largest revenue in 2017 and is estimated to witness the highest growth during the forecast period.

Asia-Pacific was the largest region in the global air purifier market in 2017 and it is estimated to grow over a CAGR of 40.1% during 2018-2024.

On the basis of region, the market is segmented into five parts namely North America, Europe, Asia Pacific, Middle East, Africa and Latin America.

The research study includes profiles of leading companies operating in the global air purifier market. Some of the key players profiled in the report include Camfil Group, Daikin Industries, Ltd., Eureka Forbes limited, Honeywell International Inc., LG Electronics, Panasonic Corporation, Philips Electronics N.V., Sharp Corporation, Xiaomi Inc., Blueair AB, and others.

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About InForGrowth:
We are a market-intelligence company formed with the objective of providing clients access to the most relevant and accurate research content for their growth needs. At InForGrowth, we understand Research requirements and help a client in taking informed business critical decisions. Given the complexities and interdependencies of market-intelligence, there is always more than one source to explore and arrive at the right answer. Through our smart search feature and our reliable & trusted publishing partners, we are paving way for a more simplified and relevant research.

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