Air Purifier Market Projected to Reach $28.8 Billion by 2031

According to the latest report by Meticulous Research®, the global air purifier market is expected to grow significantly, reaching a valuation of $28.8 billion by 2031 at a compound annual growth rate (CAGR) of 8.9% from 2024 to 2031. This robust growth is driven by increasing urbanization and rising indoor air pollution levels, growing demand for energy-efficient air purifiers, heightened public awareness regarding the health risks associated with poor air quality, and government initiatives aimed at improving air standards. However, the high costs of purchasing and maintaining air purifiers may constrain market growth.

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Market Dynamics and Opportunities

The air purifier market is poised for further growth as the adoption of air conditioners with inverter and air purification technologies gains traction. Technological advancements in consumer electronics also present lucrative opportunities for market players. However, the limited coverage area of air purifiers and the recurring expenses associated with filter replacements remain key challenges.

Market Segmentation

The air purifier market is segmented based on product type, circulation, portability, distribution channel, and end-user:

Product Type: The market is categorized into HEPA purifiers, activated carbon air purifiers, ionic air purifiers, UV air purifiers, hybrid air purifiers, and other types. HEPA purifiers are projected to dominate the market in 2024, accounting for approximately 48% of the total share, driven by growing concerns about air pollution in urban areas and increasing regulatory measures. Hybrid air purifiers are expected to witness the highest CAGR during the forecast period, fueled by rising demand in healthcare facilities and hospitals.

Circulation: The market is further divided into forced and natural circulation. Forced circulation air purifiers, such as HEPA models, are expected to hold the largest share in 2024, with strong demand in the industrial sector.

Portability: Standalone/portable units and in-duct/fixed purifiers are the key categories. In 2024, in-duct/fixed systems are projected to lead the market, driven by advancements in HVAC technologies. However, portable air purifiers are expected to record the highest growth rate, particularly in the residential sector, due to their versatility and affordability.

Distribution Channel: The market is split into online and offline channels. Offline sales are expected to dominate the market in 2024, accounting for 72% of the total share, as consumers prefer in-store guidance and the ability to take products home immediately. However, the online segment is expected to grow faster due to the convenience of online shopping and the rise of e-commerce platforms.

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End User: The air purifier market serves industrial, residential, and commercial sectors. The commercial segment is anticipated to lead the market in 2024, driven by stricter air quality regulations in commercial spaces and heightened public awareness. Meanwhile, the residential segment is projected to grow at the highest CAGR, supported by rising disposable incomes and the increasing demand for portable air purification solutions.

Geographical Insights

Asia-Pacific is expected to capture the largest market share in 2024, accounting for approximately 43% of the global air purifier market. The region's growth is driven by rapid industrialization and urbanization, increased disposable incomes, and advancements in HVAC systems. Government regulations aimed at improving air quality, coupled with the launch of innovative air purifiers, are further boosting the market in the region. Notably, Asia-Pacific is also forecasted to achieve the highest CAGR of around 10% during the forecast period.

Key Market Players

Leading players in the global air purifier market include:

Honeywell International Inc. (U.S.)
Dyson (Singapore)
Panasonic Corporation (Japan)
IQAir (Switzerland)
Unilever PLC (U.K.)
Blueair (Sweden)
Koninklijke Philips N.V. (Netherlands)
Samsung Electronics Co. Ltd. (South Korea)
LG Electronics Inc. (South Korea)
Carrier Global Corporation (U.S.)
Winix Inc. (South Korea)
Whirlpool Corporation (U.S.)
Sharp Corporation (Japan)
Resideo Technologies Inc. (U.S.)
AllerAir Industries Inc. (Canada)

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Related Reports :

Europe Air Conditioners Market : https://www.meticulousresearch.com/product/europe-air-conditioners-market-5693

South East Asia Air Conditioners Market : https://www.meticulousresearch.com/product/south-east-asia-air-conditioners-market-5611

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This release was published on openPR.