Air Purifiers Market 2024-2033 : Industry Analysis, Size, Share, Growth And Forecast | LG Electronics Inc., Coway Co. Ltd., Daikin Industries Ltd., Dyson Ltd., Whirlpool Corporation

"The air purifiers market size has grown rapidly in recent years. It will grow from $2.02 billion in 2023 to $2.29 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to rise in air pollution levels, increasing health awareness, technological advances, and increased prevalence of respiratory diseases, increased geriatric population, and economic growth in emerging markets.

The air purifiers market size is expected to see rapid growth in the next few years. It will grow to $3.94 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to higher incidence of allergies, rising health consciousness, changing climate conditions, increasing prevalence of obstructive sleep apnea, coronavirus impact, and growing urbanization . Major trends in the forecast period include developing smart air purifiers to capitalize on the changing consumer trends and growing popularity of these products, focusing on developing energy-efficient products, multi-functional products, portable products, wearable air purifiers, increasing focus on m&a growth strategies to expand customer base, and investing in providing automated air-purifiers.

Market Overview -
An air purifier is a device that purifies airborne toxins and particulate matter. The use of air purifiers is to minimize the health risks associated with breathing air contaminated with pollen grains, harmful gases, and emissions.

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Surging Concern For Airborne Diseases Driving Growth In The Air Purifier Market
The rising concern for airborne diseases is driving the air purifier market. An increase in health issues such as asthma, allergies, and other breathing disorders due to airborne diseases encourages consumers to invest in air purifiers at commercial and residential locations. For instance, according to a report by the American Lung Association, in 2021, 4 in every 10 people in the US will live with polluted air. Further, the 22nd annual State of the Air report shows that people of color were 61% more likely to live in a country with unhealthy air than white people. As per the department of statistics in Singapore, there were 246 cases of airborne diseases reported across Singapore. Therefore, the increasing prevalence of airborne diseases contributes to the growth of the air purifier market.

Competitive Landscape -
Major companies operating in the air purifiers market report are LG Electronics Inc., Coway Co. Ltd., Daikin Industries Ltd., Dyson Ltd., Whirlpool Corporation, Xiaomi Corporation, Resideo Technologies Inc., Koninklijke Philips N.V., Panasonic Corporation, Samsung Electronics Co. Ltd., Sunbeam Products Inc., YADU, Midea, Beiangtech, IQ Air, Honeywell International, Camfil, Sharp, Blue Air (Unilever), Teqoya, Dexwet True Filter Solutions, Tion, Americair Corporation, Wynd Technologies, Samsung Electronics America, Haier Group, Electrolux, GE Healthcare, Viking Range, Nordic Air Filtration, ResMed Inc., Phillips, Elaraby Group.

Adoption Of Smart Air Purifiers With Smartphone Control Enhances Market Trends
The use of smart air purifiers through the smartphone-enabled application is a key trend in the market. Smart air purifiers allow the air quality to be monitored and managed from a smartphone application, which provides a live reading of quality data. For instance, in August 2021, IKEA, a Switzerland-based company operating in the home furniture, introduced STARKVIND, a smart air purifier. STARKVIND smart air purifier is designed for indoor use that can be controlled and scheduled via the IKEA Home smart app, with the built-in air quality sensor it has five different fan speeds and an auto-mode and can adjust the fan speed correlated with enclosed space.

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Key Segments -
The air purifiers market covered in this report is segmented -
1) By Type: Dust Collectors, Fume & Smoke Collectors, Other Types
2) By Technology: HEPA Filter, Activated Carbon, Other Technologies
3) By End-User: Residential, Commercial

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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