London, July 21, 2020 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the air purifiers market, the growing awareness among consumers regarding air purification in the wake of COVID-19 is an opportunity for air purifier retailers to scale up their sales. Some companies are increasing the production of air quality systems with the addition of different technologies such as High-Efficiency Particulate Air (HEPA) filters, photocatalytic purifiers, activated carbon purifiers, and ionic filters.
Since the coronavirus has not yet been proven to be an airborne disease, the efficacy of air purifiers in curbing its spread is not yet fully known. However, in India, during the initial outbreak and before the imposition of national lockdown and social distancing norms, air purifier companies witnessed a slight rise in the demand by consumers as a precautionary measure against the virus. Some air purifiers have anti-bacterial and anti-viral filters for viruses such as H1N1 and others, which propelled the demand.
The Business Research Company’s report titled Air Purifiers Market Global Report 2020-30: COVID-19 Growth And Change covers the global air purifier market and its segments. The air purifier market is segmented by technology into HEPA filter, activated carbon, and others. It is also segmented by type into dust collectors, fume & smoke collectors, and others. By end-user, the market is segmented into residential, and commercial.
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On the supply side, since the lockdown commenced globally, the air purifier business was severely hampered. Retail and online sales came to a standstill due to the disruption in supply chain, logistics, and online channels being used only for the delivery of essential items. Though this caused a halt in residential sales, air purifier companies are relying on commercial end-users to create demand during the period.
Despite supply chain disruptions, after lockdown restrictions were eased, global air purifier companies are using up existing inventory to cope with the hampered production and global trade. Recovery in the residential sector is anticipated to be slow due to discretionary consumer spending and low pollution levels. Air purifiers are still considered a luxury or lifestyle commodity rather than a necessity by the masses. A temporary shift in focus towards commercial and institutional end-users, particularly hospitals, offices, and government buildings, is anticipated to help recover the air purifier industry.
The global air purifiers market is expected to grow from $1,559.8 million in 2019 to $2,350.8 million in 2023 at a compound annual growth rate (CAGR) of 10.8%. Growth in the forecast period can be attributed to the increasing spending on household goods in both developed and developing countries, rising disposable incomes, growing middle class populations, and changing consumer lifestyles. The rapidly growing e-commerce market owing to the increasing internet and smartphone penetration will also drive the consumption of household appliances including air purifiers. Government initiatives to curb poor air quality and increasing health awareness towards airborne diseases will likely boost the market.
Air Purifiers Market Global Report 2020-30: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2400 market segments and 56 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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