Air Purifier Market Segmentation, Industry Participants & Competitive Analysis Report

Felton, Calif., USA, Feb. 08, 2021 — /EPR Network/ —

The global Air Purifier Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global air purifier market size is estimated to reach USD 18.21 billion, by 2027, and is projected to grow at a CAGR of 10.8% from 2020 to 2027, according to a new report by Million Insights. Increasing pollution particularly in urban cities along with growing prevalence of airborne diseases is projected to propel the demand for air purifiers in coming years. In addition, growing health awareness and rising income levels of consumers is also boosting the market growth.

Key Players:

• IQAir North America, Inc.
• Honeywell International, Inc.
• LG Electronics, Inc.
• Unilever PLC
• Aerus LLC
• Daikin Industries, Ltd.
• Koninklijke Phillips N.V.
• Panasonic Corporation
• Hamilton Beach Brands Inc.
• Whirlpool Corporation

Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/global-air-purifier-market/request-sample

Growth Drivers:

Increasing number of air pollution control campaigns across the globe by governments of various nations is anticipated to bolster the demand for the air purifier. Government authorities are also implementing stringent policies for maintaining air quality, which is expected to propel the market growth.

Demand for the product is increasing owing to rising concerns for chronic respiratory disorder. Moreover, growing health consciousness among consumers is also projected to increase the demand for the product. The product has high demand from restaurants, hotels operators for better air purification.

Application Outlook:

• Commercial
• Residential
• Industrial

In 2019, the commercial application held the largest market share over 71.0% in the overall market. The segment is expected to grow substantially over the forecast period, owing to increasing demand from educational institutes and office spaces.

Commercial sector includes hospitals, hotels, shopping malls, and movie theatres applications. Air purifiers are used in these spaces to maintain excellent air quality. The market is anticipated to grow significantly owing to rapid urbanization in developing countries.

Residential segment is projected to grow at a rate of 12.2% over the forecast period. Asia Pacific is expected to grow at the fastest rate from 2020 to 2027. This growth is majorly due to rapid urbanization and increasing pollution in countries such as China and India.

Regional Outlook:

North America is anticipated to continue its significant share in the overall market. In this region there is high demand for the product due to growing awareness regarding health and rising air pollution. In addition, strict policies by the Environment Protection Agency are projected to spur the market growth.

The Asia Pacific region is estimated to grow at a fastest CAGR from 2020 to 2027. The growing industrialization along with urbanization is a major factor driving the growth of the product.

Europe is projected to account for USD 3.76 billion by the end of 2027. Rising industrial application in the countries such as U.K., Germany, France, and Italy is expected to boost the demand for the product.

Central & South America is expected to grow at the CAGR of over 4.9% from 2020 to 2027. The market is anticipated to witness significant in the coming few years, owing to the presence of developing countries such as Argentina, and Brazil.

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