ROCKVILLE, Md., March 01, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global Residential Air Purifier market is projected to grow at a compound annual rate (CAGR) of 6.3% between 2022 and 2032. The market is expected to reach US$ 7.44 Bn by the end of 2032.
The COVID-19 outbreak has significantly boosted the popularity of air purifiers, because these devices remove pollutants and contaminants from the air flowing through them. In response to the COVID-19 pandemic, consumers are buying stand-alone air purifiers to ensure clean air. This will drive the growth of the global air purifier market. New products are being introduced as air purifier sales increase.
With more and more people moving into urban areas with increased pollution, the popularity of air purifiers is likely to grow. Non-standard air purifiers are unpopular in countries without air purifier standards, which reduces demand in countries without air purifier standards. This will to some extent be likely to hamper the growth of this market.
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Asia Pacific is likely to dominate the residential air purifier market in 2022, accounting for approximately 41.5% of the market's revenue. The same trend is expected to go on during the forecast period due to rapid urbanization and industrialization, a growing population, rising disposable income, and overall income levels. Furthermore, there are rising concerns over air pollution and smog, primarily in major countries such as China and India.
Standalone Air Purifiers Demand to Remain Prominent
In 2022, the standalone or portable residential air purifiers are expected to dominate the market with a revenue share of 65%. This is primarily due to the portability, simplicity of operation, and ease of maintenance of standalone air purifiers.
Also, the standalone air purifiers have a wide range of features, such as smart controls, sensors, multiple filtration layers, and the ability to move around, making them the best option for homes. It is therefore essential to have a portable air purifier to breathe-in clean air to avoid health problems caused by poor indoor air quality.
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Key Segments Covered in the Residential Air Purifier Industry Survey
- By Type
- In-Duct Residential Air Purifiers
- Standalone/Portable Residential Air Purifiers
- By Application
- Residential Air Purifiers based on Ionic Filters
- Residential Air Purifiers based on Activated Carbon
- Residential Air Purifiers based on HEPA
- Residential Air Purifiers based on Other Applications
Competitive Landscape
The residential air purifier market is dominated by international, regional, and domestic manufacturers. In order to increase revenue and strengthen their positions in this market, companies implement various strategies and initiatives, including mergers and acquisitions, new product launches, product development, distribution agreements, and technological investments.
- Panasonic will release a new air purifier in February 2022 called WhisperAir Repair Spot. This device is easy to install and does not require any maintenance.
- iRobot Corporation, an American manufacturer of consumer robots, acquired Aeris Cleantec AG, a Swiss maker of premium air purifiers based in Cham, Zug, in November 2021.
- The United Kingdom-based manufacturer of air purifiers Radic8 has entered into an agreement with Henry Schein, an American distributor of health care products, to distribute its products in North America and Europe in 2020.
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Key players in the Residential Air Purifier Market
- Blueair (Unilever)
- Whirlpool
- SAMSUNG
- Dyson
- Koninklijke Philips N.V.
- LG Electronics
- Panasonic Corporation
- Honeywell International Inc.
Key Takeaways from the Market Study
- Residential air purifiers market to reach USD 4.04 Bn by 2022
- During the forecast period, the North American residential air purifier market is expected to grow at a CAGR of 5.2%.
- Approximately 41.5% of the market's revenue to be generated by the Asia Pacific in 2022
- By application, HEPA filter technology to accumulate 40.5% revenue
- With a revenue share of 65%, the standalone or portable segment to dominate the market
- In-duct air purifier sales to likely accelerate at a CAGR of 6.4% from 2022 to 2032
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