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Residential Air Purifiers Market Trends, Global Segmentation And Market Opportunities – Growth By CAGR And Top Players

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Residential Air Purifiers Market Trends, Global Segmentation And Market Opportunities – Growth By CAGR And Top Players

April 14
02:49 2023
Residential Air Purifiers Market Trends, Global Segmentation And Market Opportunities - Growth By CAGR And Top Players
Daikin Industries, Ltd. (Japan) is a leading provider of essential solutions and services for air conditioning equipment. It has been serving the medical device industry for over 95 years. The company has a wide portfolio and seeks to strengthen it further through product launches and enhancements or upgrades.
The residential air purifiers market is expected to witness significant growth over the forecast period due to rising awareness regarding the health hazards associated with air pollution. The growing demand for air purifiers from commercial, industrial, and residential sectors is a major factor driving the growth of the market.

The residential air purifiers market is projected to reach USD 14.1 billion by 2026 from USD 9.6 billion in 2021, at a CAGR of 8.1%. Residential air purifiers are the most effective devices to improve indoor air quality and to reduce or remove the sources of pollutants and to ventilate with clean air. These are designed to filter the air in a single room or area and reduce indoor air pollution. Over the years, residential air purifiers have gained importance among homes and residential buildings with the inclination towards quicker, safer, simpler, and high-end air purifiers, encouraging the growth of the residential air purifiers market. Other factors driving market growth include the rising air pollution levels and increasing urbanization, which have further necessitated the need for better air quality at home. However, the high cost of these products and technical limitations associated with air quality monitoring products are expected to restrain market growth to a certain extent.

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Residential Air Purifiers Market: Competitive Landscape and Key Developments

Daikin Industries, Ltd. (Japan), Sharp Corporation (Japan), Honeywell International Inc. (US), Samsung Electronics Co., Ltd. (South Korea), LG Electronics Inc. (South Korea), Koninklijke Philips N.V. (Netherlands), Dyson (UK), Unilever Group (UK), Panasonic Corporation (Japan), Whirlpool Corporation (US), AllerAir Industries Inc. (US), IQAir (Switzerland), Winix Co., Ltd. (South Korea), Xiaomi Corporation (China), Camfil AB (Sweden), Airpura Industries Inc. (Canada), Airgle Corporation (US), Hunter Pure Air (US), Kent RO Systems Ltd. (India), SHIL Limited (India), IDEAL Krug & Priester GMBH & Co. KG (Germany), Havells India Ltd. (India), Molekule (US), Carrier Global (US), and Coway CO., Ltd. (South Korea)

In 2021, Panasonic Corporation (Japan) has developed a new nanoe X device that generates 100 times more Hydroxyl (OH) radicals than the conventional nanoe device. As a result, the latest nanoe X device delivers increased effectiveness in air purification and deodorization in indoor spaces.

In 2021, Panasonic Ecology Systems Co., Ltd. (PES) and Panasonic Ecology Systems Guangdong Co., Ltd. built the First Shunde Branch Plant in China, a new factory for IAQ devices such as energy recovery ventilator systems and air purifiers.

In 2021, Dyson (UK) opened its fourth Dyson Demo store in France, located in the iconic shopping district of Terrasses du Port in Marseille. The new space will showcase Dyson’s latest technology in home cleaning, air purification, lighting, and hair care.

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Objectives of the Study

  • To define, describe, segment, and forecast the residential air purifiers market by technology, type and by region.
  • To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
  • To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
  • To forecast the size of the global market in five main regions (along with their respective key countries), namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
  • To profile the key players in the global market and comprehensively analyze their core competencies and market shares
  • To track and analyze competitive developments such as acquisitions, product launches, expansions, collaborations, agreements, partnerships, and R&D activities of the leading players in the residential air purifiers market
  • To benchmark players within the global market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business strategy, market share, and product offering

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Global Residential Air Purifiers Market – Regional Scope

The global residential air purifiers market is segmented into four major regions; North America, Europe, Asia-Pacific, and the Rest of the World.

North America: In the North American region, the residential air purifiers market is driven by the presence of several key players such as Honeywell, Whirlpool, and Dyson. The US is the largest market in North America, followed by Canada and Mexico. High levels of pollution and air quality concerns are the major drivers of the residential air purifiers market in this region.

Europe: In the European region, the residential air purifiers market is driven by the presence of several key players such as Philips, LG, and Panasonic. Growing awareness about the health effects of air pollution and the availability of advanced air purifiers are the major drivers of the residential air purifiers market in this region.

Asia-Pacific: In the Asia-Pacific region, the residential air purifiers market is driven by the presence of several key players such as Daikin, Sharp, and Panasonic. Increasing urbanization, rising levels of air pollution, and the availability of advanced air purifiers are the major drivers of the residential air purifiers market in this region.

Rest of the World: In the Rest of the World region, the residential air purifiers market is driven by the presence of several key players such as Blueair, Coway, and Philips. Increasing awareness about the health effects of air pollution and the availability of advanced air purifiers are the major drivers of the residential air purifiers market in this region.

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