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Dehumidifier Market - High Energy Efficiency & Rise in Number of Construction Activities across the Regions

02-06-2017 11:15 PM CET | IT, New Media & Software

Press release from: TMR - Research Reports

Dehumidifier Market - High Energy Efficiency & Rise in Number

Dehumidifiers are equipments used to remove access moisture and retain desired level of humidity at a given place (space) Dehumidifiers can be broadly classified into heat pumps, refrigerant dehumidifiers (ventilating dehumidifier) and chemical absorbent dehumidifier (desiccant dehumidifier) based on the technology used. These dehumidifiers are used across industrial, commercial, and residential applications.

The market for dehumidifiers globally was valued at USD 1,927.1 million in 2013 and is expected to grow at a CAGR of 6.4% from 2014 to 2020 to reach USD 2,966.6 million in 2019.

The global dehumidifier market is primarily driven by increasing adoption of dehumidification solutions in commercial and industrial sectors. Additionally, the increasing health awareness and stringent government regulations for controlling global warming and curtailing food wastage is fueling the growth of the market.

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Dehumidifiers are used to keep the building materials such as cement, iron bars/rods, etc. free from moisture. Dehumidifiers are also used for drying of slab/wall in construction industry, which helps reduce the average time span of the entire project.

Thus, with rise in number of construction activities across the regions such Asia Pacific and Rest of the World (RoW), the demand for dehumidifiers in the construction industry is expected to grow, thereby driving the market growth. However, technical issues with the dehumidifiers have resulted in product recall and thus have recessed the market growth over the past few years.

Chemical absorbent dehumidifiers’ (desiccant dehumidifiers) held the largest market share, accounting for 53.5% of the global revenue share in 2013. This dominance is attributed to the wide application of desiccant dehumidifiers across food and beverage industry, hotels, commercial apartment buildings, restaurants and medical centers among others. However, owing to the changing industry trend, across all applications, towards adopting energy efficient dehumidifiers across is propelling the market growth for heat pumps.

This growth is attributed to the high energy efficiency of heat pumps as compared to other dehumidifiers. Heat pumps market is expected to grow at a CAGR of 6.5% during the forecast period.

In 2020, the industrial application segment is expected to dominate the market followed by residential application segment. Rise in adoption of dehumidifiers owing to increasing health awareness across residential applications is expected to boost the market growth for residential application dehumidifiers. The residential dehumidifier market is forecast to grow at a CAGR of 6.0% from 2014 to 2020.

Moreover, improved indoor air quality (IAQ) and ventilation guidelines by the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) are expected to further drive the demand for residential dehumidifiers.

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TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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