GCC Air Purifiers Market worth US$ 85.2 Mn by 2020
Drivers & Trends
The demand for air purifiers in GCC is increasing owing to the increasing cases of respiratory disorders, dry weather, and air pollution. Moreover, effective marketing campaigns by key market players, road shows, and promotional activities have resulted in greater awareness about air purifiers. Currently, positioning of air purifier is that of a luxury good and not an absolute necessity, and this is identified as a restraint to widespread adoption of air purifiers in the region. High pricing is another factor that acts as an impediment to the growth of GCC air purifier market.
GCC Air Purifiers Market: Analysis by Regions
Amongst different geographical areas within GCC, Kingdom of Saudi Arabia is estimated to contribute significant share of revenue with net worth of approximately US$ 14.85 Mn in 2014. In terms of growth rate, UAE is expected to be a lucrative market with a CAGR of 17% by 2020. Rest of GCC (includes Kuwait, Qatar, Bahrain and Oman) is also anticipated to expand at a CAGR of 15% by 2020.
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Analysis by Technology
High Efficiency Particulate Air (HEPA) segment is anticipated to contribute a sizable revenue in GCC followed by electrostatic precipitator segment.HEPA and electrostatic precipitator collectively are estimated to account for more than 50% of the total value of GCC air purifier market in 2014. Ion and ozone generator technology of air purification is anticipated to grow at sluggish growth rate due to its adverse effects on human health in the long run. GCC region is also observed to prefer filter-less technology of air purification due to its relatively low-maintenance cost. Cost incurred on changing filters constitute a major part of cost, and if these filters are not changed on time, they become a source of air contamination.
GCC air purifier market is dominated by several major players like Sharp Corporation, Panasonic, Hitachi, Coway and others. The leading players in global market are joining hands with regional players to enter and strengthen their position. Launch of NASA developed “Airocide technology” of air purification by US-based Akida Holdings LLC, in association with Fakruddin Holdings of Saudi and Max Electronics (a part of Landmark Group) for distribution, is one such example. Airocide is a filter-less technology which is anticipated to capture a major market share in near future.
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