The Global Residential Air Purifiers Market Size was Valued at USD 3786.9 Million in 2021 and it is Expected to Hit Around USD 6,921.6 Million by 2030, Growing at a CAGR of 8.4% from 2022 To 2030
Air purifier is a device used to purify the indoor air by removing unwanted dust and microbes. These devices absorb and decompose variety of air pollutants such as allergens, decoration pollution PM2.5, odors, bacteria, and dust among others. Most common types of air purifier typically comprise of a filtering material, sealant, frame, faceguard, and gasket. The main Common type of air purifiers are ion and ozone generators, HEPA (High Efficiency Particulate Air), electrostatic purifiers, UV technology, activated carbon technology among others.
Key Insights:
- Growing significance of better indoor air quality and rising concerns over health-related issues such as asthma and allergies has propelled the demand for air purifiers across the globe.
- On the basis of type, the Standalone/Portable Air Purifiers segment is expected to maintain its market dominance with the highest market share from 2022 to 2030.
- On the basis of Technology, the HEPA (High-Efficiency Particulate Air) segment has the largest market share.
- On the basis of Region, the Asia Pacific region captured the largest market share in 2022.
Residential Air Purifiers Market Scope
|
Attribute
|
Details
|
|
Market Size in 2021
|
USD 3786.9 Million
|
|
Estimated Market Size in 2030
|
USD 6,921.6 Million
|
|
CAGR Growth Rate
|
8.42% CAGR
|
|
Historical Year
|
2016 to 2021
|
|
Forecast Years
|
2022-2030
|
|
Base Year
|
2021
|
|
Segment Covered
|
By Type, By Technology,
|
|
Main Regions Covered
|
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
|
|
key players
|
Daikin Industries, Honeywell, Samsung, Panasonic Corporation, LG Electronics, Koninklijke Philips N.V., Coway Co. Ltd., Austin Air Systems Ltd., Sharp Corporation, Whirlpool Corporation, IQAir Austin Air, Blueair AB
|
|
Report Coverage
|
Revenue forecast, company share, competitive landscape, growth factors, restraints, opportunities, value chain analysis, Porter’s five forces analysis
|
Residential Air Purifiers Market Dynamics
Drivers: Increasing air pollution and health-related issues
Growing significance of better indoor air quality and rising concerns over health-related issues such as asthma and allergies has propelled the demand for air purifiers across the globe. Increased government regulations on environmental protection, especially by the EPA, has further pushed the demand for air purifiers. The increasing belief among residential consumers that cleaning up polluted indoor air will produce improved indoor air quality has positively affected the sales of air purifiers in the market.
Global industrialization and rapid population development have raised air pollution levels by increasing the emission of harmful gases, biological components, volatile chemicals, and fine particle matter (PM). Because of their rapid industrialization and lax compliance with pollution monitoring and control legislation, developing countries (such as China, India, Brazil, and Mexico) are more affected by the rise in carbon emission levels.
According to the World Health Organization (WHO), internationally, 9 out of 10 people breathe polluted air containing high levels of pollutants. It is approximated that outdoor and indoor air pollution results in around 7 million early deaths a year, including 3.8 million deaths caused by indoor air pollution. In addition to causing cancer, respiratory and heart diseases, dizziness, and eye irritation increased indoor pollutants and PM2.5 levels as well as other illnesses. Due to worsening air quality in several major countries and growing public awareness of the advantages and requirements of air purifiers, the market for residential air purifiers is anticipated to expand over the projected period.
Restraints: Low-profit margin
Global residential air purifier is a mature market with the presence of several vendors. Market participants are experiencing low-profit margins due to augmented competition and volatile prices of raw materials. The competition between these players is highly intense and hence most of the players are trying to differentiate their products on the basis of pricing and features. As a result, profit margins, even for well-established companies have decreased.
residential air purifiers market is characterized by the presence of well-established international and domestic players with a diversified portfolio. Several regional providers offer cost-effective air purifiers with limited functionalities and features. Nevertheless, as international vendors augment their footsteps, domestic players find it tough to compete on the basis of features and quality. With the increased mergers and acquisition activities, product innovation and portfolio expansion the competition in this market is projected to intensify.
Opportunity: Product innovations and vertical integration to improve affordability
In order to stay competitive, companies are constantly focusing on constant product innovation by adding pioneering features in residential air purifiers and offering these products at affordable prices. For instance, Honeywell launched new Bluetooth Smart True HEPA (high-efficiency particulate air) allergen removers that can easily connect to user handsets. A few years ago, the company also launched a high-tech air cleaner that has five different cleaning settings (General, Sleep, Germs, Allergen, and Max).
Increasing focus on vertical integration is one of the promising trends in the air purifiers market. Market players, which have implemented the vertical integration strategy, have achieved strong control over their value chain. This trend has helped them to reduce overall expenditure to a significant extent. Vendors are able to reduce intermediaries and price hikes.
Residential Air Purifiers Market Segmentation
Type Insights
By Type, the market is segmented into Standalone/Portable Air Purifiers and In-Duct Air Purifiers. The Standalone/Portable Air Purifiers segment dominated the global industry in 2021 and accounted for the highest revenue share of approximately 64.97% of the overall revenue. The standalone air purifier is primarily attributed to its transportability, simple operation without any structural changes in the house and easy maintenance. Portable air purifiers are more adaptable because they do not require installation at all. Also, a standalone/portable air purifier allows people to breathe clean air anywhere they are.
Technology Insights
Based on Technology the market is segmented into HEPA (High-Efficiency Particulate Air), Activated Carbon, Ionic Filters, Electrostatic Precipitators, and Others. HEPA segment accounted for the largest share. In 2021, the HEPA technology segment held the largest revenue share of around 42.8%, in terms of revenue. One of the key reasons for the growth of this segment is the high performance and reliability of HEPA filters to effectively trap and take out airborne particles. also, the usage of HEPA filters in residential air purifiers helps to trap air pollutants and helps in allergen relief. An electrostatic precipitator is key segment of this market and is expected to experience exponential growth in the years to come.
Regional Insights
Asia Pacific dominated the residential air purifiers market in 2021 and accounted for the major revenue share of more than 41.85% due to urbanization and rapid industrialization, with a rising disposable income and growing population. In addition, the rising prevalence of respiratory diseases such as asthma and allergies, coupled with the growing awareness about air pollution and its health effects, is expected to drive the demand for air purifiers in the region.
North America is expected to emerge as one of the most profitable regions for this market over the forecast period. The growing importance of better indoor air quality and rising concerns over health-related issues such as asthma and allergies has propelled the demand for air purifiers in the U.S. Moreover, stringent regulations and government initiatives to reduce air pollution are expected to drive the market for residential air purifiers in North America. Furthermore, manufacturers are focusing on introducing technologically advanced and energy-efficient air purifiers which are expected to further drive the market in the region.
Competitive Landscape
The key players in the global residential air purifiers market are Daikin Industries, Honeywell, Samsung, Panasonic Corporation, LG Electronics, Koninklijke Philips N.V., Coway Co. Ltd., Austin Air Systems Ltd., Sharp Corporation, Whirlpool Corporation, IQAir Austin Air, Blueair AB among others
The global Residential Air Purifiers Market Segment as follows:
By Type
- Standalone/Portable Air Purifiers
- In-Duct Air Purifiers
By Technology
- HEPA (High-Efficiency Particulate Air)
- Activated Carbon
- Ionic Filters
- Electrostatic Precipitators
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East & Africa