Growth Opportunities in Dehumidifiers Market: New Research Report
The global dehumidifiers market is estimated to grow two fold by 2020 with a CAGR of 6% to 8%. The global dehumidifiers market is segmented into three segments on the basis of type, application and the geographical splits. The geographical segments of global dehumidifiers market includes seven sub-segment which are North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan and Middle East & Africa. North America dehumidifiers market commands largest share in 2013 in global market, followed by Europe and Asia-Pacific. However, in terms of growth rate, Asia Pacific dehumidifiers market is expected to grow higher with double digit CAGR for the forecast period. By 2020 the Asia pacific is projected to become largest geographical segment leaving behind the America and Europe regions in global dehumidifiersmarket. Growing infrastructural development in Asian countries is shifting the construction industry at pace in which dehumidifiers are widely deployed for various application such as for drying plasters and slabs. Increasing numbers of hotels, restaurants, cold storage and food industries in America and Europe is resulting in increasing demand for dehumidification solution in global dehumidifiers market, which is estimated to grow significantly.
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On the basis of type, the global dehumidifiers market is segmented into heat pumps, ventilating dehumidifiers (refrigerant dehumidifiers) and chemical absorbent dehumidifiers (desiccant dehumidifiers). As of 2013, absorbent type dehumidifier dominated the global dehumidifiers market, due to increased demand in hotels, restaurants, food and beverage industry, office buildings and medical centers. In terms of revenue,chemical absorbent type dehumidifiers accounted for largest share in global dehumidifiers market, followed by heat pumps type and ventilating type dehumidifiers segments respectively. Growing with significant CAGR absorbent type dehumidifiers market segment is expected to maintain its dominance throughout the forecast period in global dehumidifiers market, whilst the heat pump type dehumidifiers’market segment is projected to register a steady growth in global dehumidifiers market with a CAGR around 6% to 8% during the forecast period.
The global dehumidifiers market is further segmented on the basis of application which are industrial residential and commercial. Industrial application is the predominant market segment with more than 40% of revenue in overall global dehumidifiers market followed by commercial and residential respectively. In terms of revenue, the industrial application segment of global dehumidifiers market is expected to maintain the largest share throughout the forecast period due to growing industrialization, stringent government norms focusing on global warming. Infrastructure development due to growing number of commercial buildings such as hospitals, schools and departmental stores are also expected to drive the growth of commercial application segment of global dehumidifiers market. Additionally, changing weather conditions and awareness about health by moisture control/prevention are some of the factors which is expected to grow demand of dehumidifiers in residential application segment of global dehumidifier segment for the forecast period.
The global dehumidifiers market is fragmented with presence of many global and local players. Some of the key players in global dehumidifier market are Electrolux (Frigidaire) and General Filters, Inc., Whirlpool Corporation, LG Electronics Inc., Haier Group, Honeywell International, Inc., Sunpentown International, Inc, Thermo-Stor LLC and De’Longhi Appliances S.r.I.
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In future, the market growth of manufacturer will largely depend upon providing technology up gradation, efficient dehumidifiers at competitive cost. Some of the recent development include introduction of dehumidifiers which can be integrated with the HVAC system, which further provides more efficiency of system. Such type of technological development with enhanced energy efficiency and safety is expected by leading market players in near future.
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