Air Purification Equipment Market Competitive Dashboard, Segmentation, Key Players And Forecast To 2033

The air purification equipment market size has grown strongly in recent years. It will grow from $65.35 billion in 2023 to $71.33 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to increasing awareness of air quality, industrialization and urbanization, government regulations, health concerns.

The air purification equipment market size is expected to see strong growth in the next few years. It will grow to $98.79 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to sustainability and green initiatives, climate change and natural disasters, growing demand for smart homes, aging population, air quality monitoring. Major trends in the forecast period include technological advancements, smart and connected devices, hepa and advanced filtration, customization and personalization, portable and compact designs.

Market Overview -
The air purification equipment refers to a device used for removing contaminants from the air in a room to improve indoor air quality.

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Health Impacts Of Air Pollution Fueling Demand For Air Purification Equipment
Increasing health problems due to air pollution is projected to boost the demand for the air purification equipment market. Rising deaths and diseases caused by air pollution are generating higher demand for devices used for air purification to remove harmful pollutants in the air. According to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations responsible for international public health, air pollution is a major cause of death and various diseases. Air pollution is responsible for approximately 4.2 million deaths annually across the globe, mainly from heart disease, chronic obstructive pulmonary disease, lung cancer, acute respiratory infections, and stroke. In the USA alone, there are around 200,000 premature deaths annually. Moreover, air pollution is alone responsible for 29% of lung cancer, 43% of chronic obstructive pulmonary disease, 17% of acute lower respiratory infection, and 24% of stroke of all deaths and diseases worldwide. The increase in impurities in the air is expected to drive the demand for the air purification equipment market during the forecast period.

Competitive Landscape -
Major companies operating in the air purification equipment market include Daikin Industries Ltd., Sharp Corporation, Camfil Group, Philips Electronics N.V., LG Electronics Inc., Panasonic Corporation, 3M Company, Mann+Hummel, Honeywell International Inc., Clarcor Inc., Whirlpool Corporation, SPX Flow, Eureka Forbes, Electrocorp, Fumex Inc.

Strategic Collaborations And Partnerships Driving Expansion In The Air Purification Equipment Market
Major companies are strategically entering partnerships and collaborations with start-ups and mid-sized companies in the air purification market to broaden the products and services offered by the company. Strategic collaborations and partnership agreements help companies expand their existing product portfolio and geographical reach. For instance, in May 2022, ScentAir Technologies, LLC, a US-based scent solution provider, partnered with HealthWay to introduce DFS Compact and DFS Ultrafine, an innovative air purification system that combines HealthWay's patented Disinfecting Filtration System technology with ScentAir's service. The DFS Compact and DFS Ultrafine are fully portable in-room solutions for providing pure air. HealthWay is a US-based air purification solution provider.

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Key Segments -

The air purification equipment market covered in this report is segmented -

1) By Product Type: Stand-Alone Air Purification Equipment, Induct Air Purification Equipment
2) By Technology: HEPA, Electrostatic Precipitators, Activated Carbon, Ionic Filters, Other Technologies
3) By End User: Residential, Commercial, Industrial

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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