Press release
Residential Air Purifiers Market Trends, Opportunities, Industry Demand, Revenue, Challenges, Business Prospects
Residential Air Purifiers Market is Expected to Reach $14.1
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The residential air purifiers market is projected to reach USD 14.1 billion by 2026 from USD 9.6 billion in 2021, at a CAGR of 8.1%. Residential air purifiers are the most effective devices to improve indoor air quality and to reduce or remove the sources of pollutants and to ventilate with clean air. These are designed to filter the air in a single room or area and reduce indoor air pollution. Over the years, residential air purifiers have gained importance among homes and residential buildings with the inclination towards quicker, safer, simpler, and high-end air purifiers, encouraging the growth of the residential air purifiers market.
Key drivers contributing to the growth of the residential air purifiers market include:
Growing health consciousness: Increasing awareness of the adverse effects of indoor air pollution on respiratory health and allergies has led to higher demand for air purification solutions.
Urbanization and pollution: As urbanization continues, pollution levels in cities rise, leading to a greater need for air purifiers to combat indoor pollution.
Technological advancements: Advances in air purification technology have resulted in more efficient and sophisticated devices that are capable of removing a wide range of airborne pollutants.
COVID-19 pandemic impact: The COVID-19 pandemic further heightened the importance of indoor air quality, as people spent more time at home and sought ways to create safer living environments.
Government initiatives: In some regions, government initiatives and regulations aimed at promoting cleaner indoor air have also boosted the demand for residential air purifiers.
The market was also witnessing some notable trends, including the integration of smart technology into air purifiers, which allowed for remote monitoring and control via smartphones or other connected devices.
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Asia Pacific accounted for the largest share of the residential air purifiers market
Asia Pacific is the largest regional market for residential air purifiers. The fast adoption of advanced indoor air quality monitoring technologies, ongoing technological advancements in the field of particulate sensors, rising public-private funding and investments, and the presence of supportive government regulations are key factor driving the residential air purifiers market in Asia Pacific.
Key Market Players
The prominent players in the global residential air purifiers market are Daikin Industries, Ltd. (Japan), Sharp Corporation (Japan), Honeywell International Inc. (US), Samsung Electronics Co., Ltd. (South Korea), LG Electronics Inc. (South Korea), Koninklijke Philips N.V. (Netherlands), Dyson (UK), Unilever Group (UK), Panasonic Corporation (Japan), Whirlpool Corporation (US), AllerAir Industries Inc. (US), IQAir (Switzerland), Winix Co., Ltd. (South Korea), Xiaomi Corporation (China), Camfil AB (Sweden), Airpura Industries Inc. (Canada), Airgle Corporation (US), Hunter Pure Air (US), Kent RO Systems Ltd. (India), SHIL Limited (India), IDEAL Krug & Priester GMBH & Co. KG (Germany), Havells India Ltd. (India), Molekule (US), Carrier Global (US), and Coway CO., Ltd. (South Korea).
Residential Air Purifiers Market Dynamics:
Drivers:
• Urbanization and pollution
• Technological advancements
• Health benefits for vulnerable groups
• Increasing prevalence of allergies and respiratory diseases
• Government initiatives and regulations
• Consumer lifestyle and aesthetics
Restraints:
• Limited awareness and education
• Seasonal demand
• Maintenance costs
• Limited effectiveness for certain pollutants
• Energy consumption
• Availability of alternatives
Opportunities:
• Increasing adoption of smart and connected technologies
• Product innovation and differentiation
• Health-focused marketing and awareness campaigns
• Expansion into emerging markets
• Air purifiers for specific applications
• Integration with HVAC systems
• Business-to-business (B2B) opportunities
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