Commercial Fan And Air Purification Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030

New York, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Commercial Fan And Air Purification Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009811/?utm_source=GNW

The global commercial fan and air purification equipment market is expected to grow from $68.7 billion in 2020 to $71.22 billion in 2021 at a compound annual growth rate (CAGR) of 3.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $100.56 billion in 2025 at a CAGR of 9%.

The commercial fan and air purification equipment market consists of sales of commercial fan and air purification equipment by entities (organizations, sole traders and partnerships) that produce commercial and industrial fan and air purification equipment such as industrial dust and fume collection equipment, electrostatic precipitation equipment, warm air furnace filters, air washers, and other dust collection equipment, attic fans and industrial and commercial fans and blowers, such as commercial exhaust fans and commercial ventilating fans. The commercial fan and air purification equipment market is segmented into air purification equipment; attic and exhaust fans; and other commercial fan and air purification equipment.

Asia Pacific was the largest region in the global commercial fan and air purification equipment market, accounting for 48% of the market in 2020. Western Europe was the second largest region accounting for 27% of the global commercial fan and air purification equipment market. Africa was the smallest region in the global commercial fan and air purification equipment market.

The growing popularity of smart air purifiers is a major trend in the market. With air pollution increasing across the world, a growing awareness of allergies, pollution and climate change is increasing consumer concern about the quality of the air they breathe. As a result, air purifiers are growing in popularity. Smart air purifiers are devices which are connected to other devices via the internet, and other technologies such as Bluetooth, near field communication (NFC) and Wi-Fi. The rise of the Internet of Things (IoT) technology also supports the development of smart air purifiers. Smart air purifiers allow the air quality to be monitored and managed from a smartphone application, which provides a live reading of quality data. For instance, in January 2019, Pathpartner, an Indian based technology company, developed IoT enabled smart air purifier that gives information about air quality and provides a report on the humidity content of the air. Through this technology, the temperature of the room and freshening up the room can be controlled remotely.

High adoption and maintenance costs are expected to limit the growth of the air purifiers market. Air purifiers are considered premium products due to the high adoption cost in both developed and developing countries. According to consumer reports, air purifiers range from $200 to $900 and the maintenance is high due to the change of filters two or three times a year, and some air purifiers have multiple filters. For instance, considering the average carbon activated filter air purifier that eliminates bad odors on the market, the filter needs to be replaced every three months to be effective, which costs $50, then there is an additional cost of the main filter which ranges from $20 to $200 each. The Honey wells Air Touch S8 is a HEPA technology-based air purifier that costs around $500 (36,000 INR) in India and is a multiple filter air purifier. The filter should be replaced every 4 months, which costs $40 (3,000 INR) each time. Therefore, high adoption and maintenance costs are expected to affect the air purifiers market’s growth.

Technological advances in commercial fan and air purification equipment drove the market in the historic period. Increased access to the internet and the use of smartphones supported the development and consumption of innovative technologically enabled appliances. About 4.49 billion people globally had access to the internet in 2019; 4.33 billion were active internet users and there are 3.9 billion unique mobile internet users worldwide. Further, increasing integration of the Internet of Things (IoT) with appliances allowed customers to connect with their appliances via the internet and remotely control essential tasks by collecting data. Thus, technological advances drove the market for air purifiers in the historic period.

Read the full report: https://www.reportlinker.com/p06009811/?utm_source=GNW

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