Household Air Purifier Market REPORT OVERVIEW
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The global household air purifier market size was USD 10460 million in 2022 and is projected to touch USD 20387.65 million by 2031, exhibiting a CAGR of 7.7% during the forecast period.
The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Household air purifiers are a machine that purifies the air by removing the impurities and contaminants from household air. It is installed to improve the air quality of indoors. In addition, it works as a natural ventilator by releasing depolluted air. They eliminate various air contaminants such as pollen, smoke, dust, and dander to ensure the air quality of indoors. It limits the spread of harmful residues and prevents allergy problems and asthma that is caused by poor air quality.
Market growth for household air purifiers is driven by rising diseases and disorders caused by air pollution. Growing urbanization and growing population in urban areas with intense air pollution is expected to propel the growth for the market. Degrading air quality across major regions and awareness regarding better air quality is projected to drive demand for purifiers. One of the major driving factors of the household air purifiers market growth is due to COVID-19 pandemic, as it created the importance for installation of air filters.
COVID-19 Impact: Demand for Air Filters During Pandemic to Support Market Growth
The effects of the COVID-19 pandemic are already being felt on a global level, the global household air purifiers market was considerably influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. Outbreak of the COVID-19 pandemic created demand due to awareness regarding the quality of air. Due to social distancing and lockdown rules and regulations during the pandemic it created the demand for air filters. Increase in the installation of air filters in households during the pandemic supported the demand for filters. Post pandemic recovery is characterized by government initiatives and regulations to have quality air.
LATEST TRENDS
"HEPA Filtration Technology to Expand Market Development"
The global household air purifiers market growth is intended to develop owing to the merge and integration of high efficiency particulate air (HEPA) filtration technology. Evolution of HEPA is expected to flourish the market growth as it removes majority of the pollen, dust, bacteria, and any other airborne particles. They have large surface areas and have high efficiencies to eliminate larger and smaller airborne particles. Such technology infiltrated filters are expected to witness a significant demand in residential sectors during the forecast period. Such integration of efficient and new technology in household air purifier is estimated to pose an opportunity for market growth during the forecast period.
Household Air Purifier Market SEGMENTATION
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- By Types
Based on type; the market is divided into < 20 Sqm, 20-50 Sqm, 50-80 Sqm, and >80 Sqm.
20-50 Sqm is expected to be the leading part of the type segment.
- By Application
Based on application; the market is divided into living room, bed room, kitchen, and others.
Living Room is expected to be the leading part of the application segment.
DRIVING FACTORS
"Occurrence of Airborne Diseases to Propel Market Growth "
Increase in the occurrences of airborne diseases due to air pollution is projected to rise household air purifiers market growth. There have been incidences of various airborne diseases due to rising air pollution levels. Diseases such as cancer, heart diseases, respiratory diseases, fatigue, dizziness, asthma, and eye irritation. Several governments have been focusing on air pollution regulations that have given rise to the importance of having air quality. Numerous campaigns by various governments and organizations that focus on prevention of air pollution boosted the growth for air filters. Such instances of airborne diseases are anticipated to provide lucrative opportunities for household air purifiers.
"Growing Urban Residential Development to Expand Product Demand"
Demand for residential air filters was propelled due to growing development of urban areas. As there is a growth in urbanization consumers have been becoming more and more aware of the harmful effects of polluted air. With increase in the disposable income in consumers is expected to drive the market growth. Deterioration in the air quality and benefits of air filters is expected to create demand for the air purifiers which is anticipated to accelerate growth.
RESTRAINING FACTORS
"High Installation Costs to Hamper Market Growth"
There are a number of factors that can impel the growth of the household air purifiers market. Restraining factors such as high installation costs and maintenance costs cause hindrance in market growth. Cost of replacing an air filter is generally higher and it requires regular servicing and repairs. In addition, lack of awareness regarding harmful effects of bacteria which is expected to restrict and limit the market growth.
Household Air Purifier Market REGIONAL INSIGHTS
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"Asia Pacific to Lead the Market Share Due to Rapid Urbanization "
Asia Pacific holds the largest part in the global household air purifiers market share owing to increasing urbanization. Major countries in the region have rapid urbanization due to rise in the population in the region is expected to drive market growth in the region. The market is expected to continue to enlarge due to the presence of the majority of market players in the region. Increasing demand for air purifiers due to growing air pollution and awareness to curb the pollution is projected to create lucrative opportunities in the market. China holds the part in the regional market. Presence of majority of market players is expected to drive market growth. Increasing government initiatives and initiatives by various organizations is expected to propel the growth in the region.
KEY INDUSTRY PLAYERS
"Market Players to Boost Market Growth"
The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Sharp (Japan)
- Panasonic (Japan)
- Philips (Netherlands)
- Daikin (Japan)
- Midea (China)
- Coway (South Korea)
- Smartmi (U.S.)
- Electrolux (Sweden)
- IQAir (Switzerland)
- Amway (U.S.)
- Whirlpool (U.S.)
- Honeywell (U.S.)
- Yadu
- Samsung (South Korea)
- Austin (U.S.)
- Blueair
- Boneco
- Broad
REPORT COVERAGE
This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 10460 Million in 2022 |
Market Size Value By |
US$ 20387.65 Million by 2031 |
Growth Rate |
CAGR of 7.7% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the household air purifiers market expected to touch by 2031?
The global household air purifiers market is expected to reach USD 20387.65 million by 2031.
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What CAGR is the household air purifiers market expected to exhibit by 2031?
The household air purifiers market is expected to exhibit a CAGR of 7.7% by 2031.
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Which are the driving factors of the household air purifiers market?
Drivers of this household air purifiers market are occurrence of airborne diseases and growing urban residential development.
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Which are the top companies operating in the household air purifiers market?
Sharp, Panasonic, Philips, Daikin, Midea, Coway, Smartmi, Electrolux, IQAir, Amway, Whirlpool, Honeywell, Yadu, Samsung, Austin, Blueair, Boneco, and Broad are key companies operating in the market.