Air Purifier Market Analysis by Size, Share, Growth, Trends and...

Air Purifier Market Analysis by Size, Share, Growth, Trends and Forecast (2023–2030) | UnivDatos

Posted 2024-11-19 09:03:20

The surge in air pollution levels in the Asia-Pacific region has driven the growth of the air purifier market. People are becoming more aware of the health risks associated with poor air quality, which has fueled the demand for air purification solutions to improve indoor air in homes and workspaces. This trend has been more prominent, especially in areas with high levels of pollution and concerns about respiratory health. In recent years, the Asia-Pacific region has experienced a significant rise in air pollution rates, primarily due to urbanization, commercial activities, and increased vehicular emissions. The escalation in air pollution has propelled the growth of the air purifier in the Asia-Pacific region. To mitigate the adverse effects of air pollution on health, people have shown great demand patterns for air purification devices, particularly residents of densely populated urban areas. For instance, in June 2023, the West Bengal govt launched buses with air purifiers in Kolkata to beat pollution levels in the city. The Bus Roof Mounted Air Purification System (BRMAPS), named ‘Suddha Vayu’, is the first of its kind in India, said a statement issued by the West Bengal Pollution Control Board (WBPCB).

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Further, the APAC Air Purifier Market is expected to grow at a CAGR of 9% during the forecast period (2023-2030). Asia-Pacific holds the major market share in the Air Purifier market and is anticipated to grow at a substantial CAGR during the forecast period. The major reason for the growth and expansion of the air purifier market is rising pollution in the region. The rise in industrialization has led to increased production activities due to which harmful pollutants, smoke, and dust particles get settled in the ecosystem, which ultimately causes airborne diseases such as stroke, ischemic heart disease, chronic obstructive pulmonary disease (COPD), and lung cancer. Furthermore, advancements in filter technology also propelled the market growth for air purifiers in the region.

Based on filtration technology, the market is segmented into high-efficiency particulate air (HEPA), activated carbon, electrostatic precipitators, and others. Amongst them, the HEPA technology category is expected to offer rewarding opportunities for the growth and expansion of the market during the forecast period. This is mainly owing to the ability of HEPA filters to capture big airborne particles such as smoke, pollen, dust, and bio-contaminants. Recommended for healthcare institutions and household usage due to its effective results in removing airborne dirt particles. With the support of these filters, gases & odors from cooking, mold, chemicals, pets, and smoke are absorbed. For instance, in January 2021, Energy Efficiency Services Ltd. (EESL), a joint venture between Power Finance Corporation Ltd., NTPC Ltd., Power Grid Corp. of India Ltd., and REC Ltd., developed an air purification technique that filters out pathogens, including the novel coronavirus, from indoor spaces.

Based on type, the market is bifurcated into portable and in-duct. Among them, the portable category is anticipated to witness the highest CAGR during the forecast period. Owing to the preference of consumers towards buying air purifiers, while comparing the quality and features of the products. Accessibility and maintenance of these purifiers would also offer lucrative opportunities for the growth of the air purifiers market during the period forecast. For instance, in August 2023, Electrolux launched its new range of air purifiers at a starting price of USD 252.77. The new air purifiers are equipped with filters that claim to neutralize up to 99.99% of airborne bacteria and viruses. The three categories of air purifiers are differentiated based on design, airflow, and features.

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Based on application, the market is divided into residential, commercial, and industrial. Among them, the commercial segment held the maximum market share and is expected to maintain its position during the period of forecast. This is mainly owing to the factor that it helps in better maintenance of indoor air quality resulting in the high demand from hotels, education institutes, healthcare institutes, offices, malls, movie theatres, etc. For instance, in December 2022, LG Electronics Indonesia announced the launch of a series of indoor air treatment products for residential and commercial end users.

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