|Status : Published||Published On : Aug, 2021||Report Code : VRCG7001||Industry : Consumer Goods||Available Format :||Page : 200|
The air purification systems market is anticipated to reach 29.62 billion USD by 2027 from USD 16.12 billion in 2020, growing at a CAGR of 10.38%. The air purification system is gaining a significant increase in demand due to increasing pollution particularly in developing countries, accelerated industrialization, and regulations regarding industrial emissions.
An air purification system is a device that helps remove pollutants from the air and is beneficial for people suffering from allergies and asthma as it makes the air clean for breathing. The device is also beneficial in clearing off second-hand smoke and the target audience usually comprises people who smoke. Thus, there is an increase in the number of people suffering from respiratory diseases as there is a fall in air quality, increase in income level led to the smart technology’s popularity, rising geriatric population, technological development, coronavirus impact, and economic growth in emerging markets are some of the factors contributing to the growth of air purification system market. The poor indoor air quality (IAQ) is one of the concerns to schools, buildings, hospitals, and the workers in these premises as it can adversely impact their health. This, in turn, increases the demand for air purification systems globally.
The COVID-19 outbreak has resulted in an increase in demand owing to the healthcare sector has increased their spending on installing high-grade air purifiers for treating the environment pathogen-free. There is a huge potential in the air purification system market owing to the rising popularity of UV-based purification. The U.S. Environmental Protection Agency (Environmental Protection Agency) reports that air purifiers can help reduce air pollutants, including viruses, in homes or confined spaces if used properly. However, portable air filters alone are not enough to protect people from COVID19.
Insight by Product
Based on product, the air purification systems market is categorized into dust collectors, fume and smoke collectors, vehicle exhaust, mist eliminators, fire/emergency exhaust, others (include air cleaners, industrial UV systems, and commercial kitchen ventilation systems). Of all product categories, dust collectors are expected to hold the largest market share during the forecast period. Dust collectors are used to removing dust impurities and other allergic particles from the environment. Increasing awareness towards the air quality among the consumers leads to an increase in the demand for dust collectors as it helps in making the indoor environment dust-free from impurities.
Insight by Technology
Based on the technology, the air purification systems market is segmented into HEPA, electrostatic precipitator, activated carbon, ionic filters, others (ultraviolet light air filters and ozone generators). In this market, the high-efficiency particulate air (HEPA) purifier is predicted to be the most widely accepted segment followed by activated carbon and electrostatic precipitator globally. HEPA is anticipated to be the fastest-growing segment as they are highly efficient in removing airborne particles including pollen, dust, smoke, and bio-contaminants. The increasing prominence of smart homes and the rising demand for a proper ambient-based living are the major reasons for the growth of HEPA technology.
Activated carbon filters the carbon surface area and makes it porous, resulting in its ability to trap airborne particles and make them effective. Electrostatic precipitator technology is anticipated to be the fastest-growing segment as they handle a large volume of gas, heavy dust loads, and corrosive materials. They are mainly found in public places.
Insight by Industry
Based on industry, the air purification systems market is segmented into Automotive, Construction, Healthcare & Medical, Energy & Utilities, Manufacturing, Others (residential, education, aviation, and hospitality sectors). The automotive sector dominates the market in 2020 and is anticipated to be the fastest-growing segment during the forecast period owing to the increasing demand for automobiles globally and rising concern for indoor air quality of automobiles. The construction and healthcare & medical sector is anticipated to have a high CAGR during the forecast period owing to widespread use of air purifiers in hospitals, laboratories, retail stores, supermarkets, etc. where a lot of people gather and the chances of respiratory infections are more.
Moreover, air purifier serves both the residential as well as commercial needs of its consumers. However, in the case of serving commercial needs, air purifiers serve the needs of several industrial, commercial and medical industries. The implementation of air purifier is also helping its user to preserve room décor, helps in reducing maintenance and housekeeping, protect furnishings and even from the hazards of fire from the heating equipment.
The rising prominence of smart air purifiers and energy-efficient appliances to reduce their environmental footprint and enable energy savings for consumers are the major trend prevailing in the air purification system market.
The primary factor aiding the growth of the global air purification systems market include increasing health problems due to air pollution. Air quality is ranked as the most influential factor on human health as witnessed in several countries that suffer from high levels of air pollution. Air pollution is considered to be very hazardous for health as the human body cannot detect the level of contamination in the air that they breathe and as a result, they cannot adopt measures to eradicate it. The human body is exposed to small amounts of carcinogens, organic pollutants, and toxins that can adversely affect the human body and can lead to an increased risk of exposure to hazardous diseases. Moreover, the implementation of air purifiers helps the consumers to reap the benefit of healthy living and breathe fresh and purified air at the home and even at the workplace. Additionally, the increasing awareness and accessibility of air purifiers are increasing the demand for this market globally.
The rising health awareness, technological development, rising prevalence of respiratory diseases, rising geriatric population, economic growth in emerging economies, high incidence of allergies, rapid urbanization and industrialization, coronavirus impact, increasing prominence of obstructive sleep apnea are some of the other drivers that contribute to the growth of the air purification system market.
The rising environmental concerns, high initial cost, high maintenance cost, counterfeit products, ozone emissions, underperformance, release of a harmful by-product for air purification system are some of the challenges that may hamper the growth of the air purification system market.
The growing environmental concern and the emerging Asia-Pacific market are creating greater opportunities for the air purification systems market globally. The amount of air pollution is extremely high in the emerging economies of Asia-Pacific such as India. The sale of air purifiers is generally enhanced in the country with the onset of winters and the aftermath of firecrackers that are burnt at the time of Diwali. Furthermore, the increasing attention on rising air pollution in the urban centers is expected to increase the sales of air purification devices in the countries of Asia-Pacific on annual basis. The high pricing of products limiting the consumption and positioning of air purification systems as luxury goods is the major restraint observed in the growth of the global air purification systems market. Moreover, the growing interest in electronic gadgets, rising prominence for smart homes, increasing cases of respiratory diseases will create promising opportunities for the air purification system market.
Air purification devices comprise of high efficient particulate air (HEPA) filters that help the users in purifying the air that is revolving around any particular individual. The device also helps people in getting rid of the contaminants and impurities from their surroundings and provides healthy and fresh air to the people. It has also been observed that the HEPA filter is used for removing the dust molecules that are larger than 0.3 microns that are assumed to be the standard measure for the microns molecule. HEPA filter also helps in cleaning the dust in the air, pollen, smoke, pet dander, and the majority of particles available in the air around people.
Geographically, Asia-Pacific is the largest market for air purification systems as the countries such as China, Japan, South Korea, and India are expected to be the hotspot of air purification systems. The increasing urbanization and industrialization, rising population, increasing disposable income, growing smog, and air pollution cases are the key driving factors contributing to the growth of the air purification system market in this region.
Key players are adopting various strategies to expand their product portfolio with innovative technologies through sustainable investment, mergers & acquisitions, and distribution network expansion. These players are improving their product performance, quality, price, technical competence, and corporate reputation to have a competitive edge among competitors.
Daikin Industries Ltd. invested US$ 2 million in U.S-based start-up company Locix Inc. to leverage its spatial intelligence solutions for furthering its AC solutions business.
Aurabeat Technology Limited, a Hong Kong-based company, introduced Aurabeat AG+ Silver Ion Plasma Sterilization Air Purifier, which can eliminate more than 99.9% of COVID-19 within 30 minutes.
Some of the key players operating in the global air purification system market are Honeywell International Inc., 3M Company, Sharp Corporation, Daikin Industries, Ltd., Air Products and Chemicals, Inc., Clean Teq Holdings Limited, Panasonic Corporation, Alfa Laval AB, SPX Corporation, Mann+Hummel GmbH, LG Electronics Inc., Whirlpool Corporation, Eureka Forbes, Fumex Inc., Philips Electronics N.V. and Clarcor Inc.