Air Purifier Market | Growing Rapid Industrialization, And Urbanization

According to Precision Business Insights (PBI), the latest report, the air purifier market is expected to be valued at USD 13,365.2 million in 2022, growing at an 8.4% CAGR from 2022 to 2028. The primary driver of the expansion of the global Air Purifier market is rapid industrialization and urbanization in emerging economies countries, new product launches, increasing research and development activities among prominent key players, and rising awareness among a large proportion of consumers.

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High-Efficiency Particulate Air (HEPA) Segment to Dominate the Air Purifier Market:
Based on technology, High-Efficiency Particulate Air (HEPA) accounted for the highest market share and is expected to dominate the market over the forecast period owing to its highly efficient in trapping airborne particles, including pollen, dust, smoke, and bio-contaminants. Additionally, some other features are the high quality and reliability of HEPA filters to remove airborne particles are further anticipated to increase segment demand in the global market.

Asia Pacific Air Purifier Market:
The Asia Pacific is anticipated to be the fastest growing regional market during the forecast period owing to numerous factors which include growing industrialization & rapid urbanization along with an increasing population. Also, rising disposable income boosts the demand for the air purifier market. Besides this, the region has an extensive reserve of natural resources that attract industries to establish their manufacturing facility in the region, thus intensifying the air pollution in the region which in turn enhances the demand for air purifiers.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Air Purifier market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,In October 2020, Koninklijke Philips N.V launched new urban living series of air purifiers designed for urban homes. This new series is equipped with AeraSense and VitaShield Intelligent Purification System technology and is available in three series: 3000i, 2000i, and 1000 for around US$ 240.

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The air purifier market is segmented based on technology, application, and geography.
Based on the technology, the market is segmented into the following:
• High-Efficiency Particulate Air (HEPA)
• Activated Carbon
• Ionic Filters
• Others

Based on the application, the market is segmented into the following:
• Commercial
• Residential
• Industrial

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the air purifier market report are Sharp Corporation (Japan), Dyson (Singapore), Panasonic Corporation (Japan), Koninklijke Philips N.V. (the Netherlands), Samsung (South Korea), Honeywell International Inc (US), Unilever (UK), Midea Group (China), Xiaomi Inc (China), COWAY CO. LTD (South Korea), and Blueair (Sweden).

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