Dehumidifier Market to USD 3.1 billion by 2027

Description
The global dehumidifier market was valued at USD 1.9 billion in 2020 to USD 3.1 billion by 2027, at a CAGR of 6.7% from 2021 to 2027. The growth of the dehumidifier market is driven by rapid development in the real estate sector leading to the construction of residential buildings and schools, hospitals, and departmental stores. In addition, an increase in awareness toward health and changes in weather conditions are the major factors expected to drive the demand for dehumidifiers.

Stringent legal and regulatory standards have compelled manufacturers to develop energy-efficient dehumidifiers. This is further estimated to benefit the market. Rising demand for portable dehumidifiers in residential and commercial applications is expected to drive growth. Dehumidifies can be bought by the consumers for their homes if necessary or due to the factor of comfort. Urban and high-class populations preferably opt for dehumidifiers. Some consumers opt for dehumidifiers because of the reason for staying in humid places where humidity is unavoidable.

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The changing lifestyle of consumers is triggering a special need for creating a cozy and ambient environment inside their homes, regardless of the climatic conditions of where they live. Improving the quality and consistency of air inside homes is becoming a necessity, which was never identified as a need before. This is emerging as the most important factor boosting the growth of the dehumidifiers market. Dehumidifier aids in preventing the growth of mold, fungus on cupboards, doors, drawers, and clothes. It is used to remove dampness from bookshelves and closets. A dehumidifier protects moisture-sensitive items, such as musical instruments, cameras, and computers.

Global Dehumidifier Market Dynamics
Drivers: Growth In Construction Activities
The region is expected to witness tremendous growth due to the growing number of construction activities and demand for industrial and commercial applications. The construction industry is widely deploying dehumidifiers to dry slabs and plasters, maintain proper conditions in hardware stores, and prevent mold growth. The increasing construction activities across the region tend to increase industrialization on a positive note. The growing construction activities would thus end up in the expansion of the end-user industries of industrial dehumidifiers, such as Food and Beverages, pharmaceuticals, Cold storage, etc. This, in turn, would drive the dehumidifiers market.

Dehumidifiers are the equipment or devices used in maintaining desired humidity levels. Industrial, residential, and commercial setups need to maintain controlled humidity levels, and it is successfully achieved with the help of dehumidifiers. Humidity is removed from the air when excess moisture comes into the air, and it is completed using dehumidifiers. Moreover, the construction industry deploys dehumidifiers to keep the cement, iron rods, and iron bars free from moisture. As a result, growing construction activities across the region are projected to impact the market positively.

Restraints: High Cost And High Energy Consumption
Homeowners install dehumidifiers to reduce the humidity within the home, improving air quality and lowering the risk of mold. The system pulls moisture out of the air, collects it, and drains it away. Many people opt for the portable version, which they can move from one space to another as needed. A portable style works best in a house where humidity is only high for a brief period or a few times a year. In addition, dehumidifiers are expensive to run even though they are super effective in reducing mold and mildew growth. It's also no secret that a dehumidifier consumes more electricity than any other air purifier in the market. On average, a 70-pint model could cost more than USD 120 a year with just 8 hours of operation. Most households decide to buy a standard 50-pint dehumidifier, powered by 500W, that is running for 8 hours per day. If the average price of electricity is USD 0.1319 is taken into account, such dehumidifier will cost (USD 0.07 per hour, USD 0.56 per day, USD 3.92 per week, USD 16.80 per month).

Dehumidifier energy factor is based on its performance per kWh. The power rate varies from state to state. The longer the hours it is running, the higher the total electricity cost. That being said, the moisture removal rate is very important in assessing a dehumidifier’s energy efficiency. A 70-pint dehumidifier will consume more energy than a 30-pint model due to the higher output. In short, a larger capacity dehumidifier is more efficient than a smaller one. However, a high-capacity dehumidifier can be overkill in a small room or basement. Therefore, the high cost associated with the product is anticipated to hamper the dehumidifier market growth during the forecast period.

Opportunities:
The market growth is largely attributed to the growing demand for absorbent dehumidifiers in hotels, restaurants, food and beverage industries, office buildings, and medical centers. Chemical absorbent dehumidifiers have become increasingly popular in recent years because of integrated designs, lower equipment costs, and the use of desiccant silica gel wheels. Electrical chemical absorbent dehumidifiers have an increasing demand in the market.

The smart home market today is massive and poised to grow. It was estimated that 98 million smart home devices worth roughly USD 10 billion were sold in the United States in 2018, covering everything from home assistants and smart speakers to smart lightbulbs to internet-connected refrigerators. It is believed that the market will grow considerably in the coming years, with 50% growth every year through 2021. Smart air conditioners now offer air-quality sensors, air purifiers, dehumidifier functions, and automatic air-filter cleaning, all to improve air quality and, by extension, the user’s health. Smart dehumidifiers that work with technology calculate humidity levels for the air and work automatically are gaining traction in the market. Innovations such as solar-assisted, liquid desiccant dehumidifiers that enhance sustainability and energy are expected to grow the market.

Scope of the Report
The study categorizes the dehumidifier market based on product, distribution channel, end user, and regions.

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By Product Outlook (Sales, USD Million, 2017-2027)
Mechanical Dehumidifier
Chemical Dehumidifier
Heat Pump Dehumidifier
By Distribution Channel Outlook (Sales, USD Million, 2017-2027)
Offline
Online
By End User Outlook (Sales, USD Million, 2017-2027)
Residential
Commercial
Industrial
By Region Outlook (Sales, USD Million, 2017-2027)
North America (US, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
Chemical Dehumidifiers, by Product, is estimated to be the fastest-growing segment during the forecast period
Based on the product, the global dehumidifier market has been segmented into the mechanical dehumidifier, chemical dehumidifier, and heat pump dehumidifier. In 2020, chemical dehumidifiers accounted for the largest market revenue share with a market share of 58% and have a CAGR of 1.87% in the global dehumidifier market during the forecast period.

The chemical dehumidifier uses drying substances to remove moisture from the air. These materials are also known as desiccant materials. They are widely accepted among industries for bringing required humidity levels into the environment. It is also one of the fastest and eco-friendly methods in the market. Also known as desiccant dehumidifiers, they consist of hydrophilic materials, such as silica gel. They are widely used in residential units contain single-use, desiccant-type cartridges, gel, and powder. The development of solar-assisted, liquid desiccant dehumidifier systems that improve sustainability and energy efficiency is expected to drive the growth for this segment.

The Middle East and Africa accounts for the highest CAGR during the forecast period

Based on region, the global dehumidifier market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Middle East and Africa is having the fastest growth rate of 2.74% during the forecast period.

In UAE, dehumidifiers are used for various residential, commercial, and industrial purposes. While a temperature rise is noticed immediately, the high level of humidity will go unnoticed and cause negative effects in the long term. A dehumidifier reduces humidity from areas like the living room, warehouse, museum, cold dehumidifiers. Internal and external humidity factors are the main drivers for dehumidifiers in the Saudi Arabia market. Rising infrastructure investments, especially in Saudi Arabia, are expected to support market growth in the forecast period further.

The Rest of the Middle East segment (henceforth referred to as the market studied) was valued at USD 0.028 billion in 2019, and it is expected to reach USD 0.033 billion by 2025, registering a CAGR of 2.90% during the forecast period, 2019- 2025 (hereafter, referred to as the forecast period). The growth in the construction industry in the rest of MEA is expected to support the Middle East and African market growth. At present, the construction sector is surging at an absurd pace in the MEA region.

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Key Market Players
The global dehumidifier market is fragmented into a few major players and other local, small, and mid-sized manufacturers/providers, which majorly focus on development. Key players are Condair Group, DehuTech AB (Fuktkontroll AB), General Filters Inc., Frigidaire (Electrolux AB), Ningbo Deye Technology Group Co. Ltd, De’Longhi Appliances S.r.L - De Longhi Group, Panasonic Corporation, and TCL.

Recent Developments
In July 2019, Condair Group announced a geographical expansion by setting up a joint venture, Condair Polska Sp. z o.o., in Poland.
In Nobember 2019, Fuktkontroll designed, delivered, and commission a DA27000-HV to Åby's new bandy hall in time for Åby / Tjureda IF's home premiere. The dehumidifier is powered by waste heat from the cooling machine and has double heat exchangers.
In May 2020, Electrolux and PowerOptimal entered a partnership to offer solar photovoltaic water heating solutions to the South African market.
In July 2020, The Pansonic company and TaKeTV announced the extension of their partnership to equip professional cameras, including 4K-ready broadcast cameras, for its studio.
Key Issues Addressed
What is the market size by various segmentation of the dehumidifier by region and its respective countries?
What are the customer buying behavior, key takeaways, and Porter's five forces of the dehumidifier market?
What are the key opportunities and trends for manufacturers involved in the dehumidifier supply chain?
What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
What and how are regulations, schemes, patents, and policies impacting the growth of the market?
What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
The market player positioning, top winning strategies by years, company product developments, and launches will be?
How has COVID-19 impacted the demand and sales of dehumidifiers in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.

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