Air Purification Market Projected to Reach US$ 200.7 Billion by 2034 with a CAGR of 17.1%

In 2024, the air purification market (空気浄化市場) is projected to be valued at approximately US$ 41.26 billion. Forecasts suggest a robust compound annual growth rate (CAGR) of 17.1%, leading to an estimated market value of US$ 200.7 billion by the conclusion of 2034. The global air purification market is experiencing significant growth driven by increasing concerns regarding air pollution, rising awareness about the health risks associated with poor air quality, and the growing adoption of air purification systems in residential, commercial, and industrial sectors. The market is expected to continue expanding as governments and organizations worldwide implement stringent regulations to curb air pollution levels.

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Market Dynamics:

The air purification market is witnessing robust growth due to the rising incidence of respiratory diseases and allergies, which has led to an increased demand for air purification systems. Additionally, the growing awareness about the importance of indoor air quality (IAQ) and the need to create a healthier living and working environment are driving the market's growth. Technological advancements in air purification systems, such as the development of high-efficiency particulate air (HEPA) filters, activated carbon filters, and UV germicidal irradiation, are also contributing to market growth.

Market Future Outlook:

The future of the air purification market (공기 정화 시장) looks promising, with continued growth expected in the coming years. The market is projected to witness substantial expansion, driven by increasing urbanization, industrialization, and the growing demand for energy-efficient air purification systems. Furthermore, the adoption of smart air purifiers and the integration of IoT and AI technologies are expected to further boost market growth.

Market Insights:

The residential segment holds a significant share in the air purification market, driven by the increasing focus on indoor air quality and the growing trend of smart homes. The commercial and industrial segments are also witnessing substantial growth, driven by the rising adoption of air purification systems in offices, hospitals, schools, and manufacturing facilities. Regionally, Asia Pacific is expected to dominate the market, driven by rapid urbanization, industrialization, and increasing government initiatives to curb air pollution.

Key Players:

Daiken Industries Ltd.
American Air & Water Inc.
Eureka Forbes Ltd.
Honeywell International Inc.
Hitech Ultraviolet Pvt. Ltd.
IQAir
Panasonic Corporation
Koninklijke Philips N.V.
Sharp Corp.
LG Electronics

Competitive Landscape:

Market players are implementing various strategies, such as introducing new products, enhancing product quality, and improving supply chain efficiency, to increase their market share and expand their presence across different regions.

For example, Daikin introduced new portable air purifiers in May 2021, specifically designed to improve indoor air quality. These products were launched in the Middle East & Africa region. Koninklijke Philips N.V. launched a new line of air purifiers called "The Urban Living Series" in October 2020. These purifiers feature AeraSense and VitaShield intelligent technologies to provide superior air filtration.

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Segmentation of Air Purification Market (Luftreinigungsmarkt) Research

By Technology :
Activated Carbon Filtration
High-efficiency Particulate Air (HEPA)
Ionic Purification
Ultraviolet Germicidal Irradiation (UVGI)

By Application :
Commercial
Residential
Industrial

By Region :
North America
Europe
East Asia
Latin America
Middle East & Africa
South Asia & Oceania

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This release was published on openPR.