HEPA-Based Air Purifiers to Gain Major Traction, Capturing Over 39% Revenue 2022; Global Market to Touch US$ 26.0 Billion In 2032

Growing technological advancement in the consumer electronics industry across the globe is expected to drive the market in the forecast period.

NEWARK, DE / ACCESSWIRE / September 14, 2022 / The global air purifier market is expected to secure US$ 26.0 Billion while exhibiting a 7.8% growth rate during the forecast period. The market is estimated at USD 12.3 Billion in 2022. The growth of the market can be attributed to the increasing advancement in consumer electronics industry.

Deteriorating air quality in major cities across the world and the resultant surge in various chronic ailments have fuelled the demand for air purifiers. Competition prevailing in the air purifier market will therefore increase in the coming years. The demand for air purifiers for homes and offices is predicted to increase significantly over the forecast period.

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The growing air pollution in urban areas and increasing airborne diseases drive the sales of the air purifier market. Also, the advancements in consumer electronics and overall high demand for smart home appliances have created a conducive environment for sales of air purifiers. Increasing online penetration of leading air purifier manufacturers will also aid growth in the market. In addition, the rise in disposable income and purchasing power parity has shifted the demand of consumers towards enhanced products, which is further expected to fuel market growth.

Key Takeaways from the Market Study

• From 2022 to 2232, the market demand expanded at a CAGR of 7.8%
• By technology, HEPA to accumulate a market share of 39.5% in 2022
• By end-use, the commercial segment dominates the market with a share of 54.5%
• North America to emerge as a promising market, capturing nearly 6.9% CAGR during the forecasting period
• The air purifier market in East Asia is expected to grow at a CAGR of 5.5% during the assessment period

"Growing technological advancement in the consumer electronics industry across the globe is expected to drive the market in the forecast period. Also, the growing installation of air purifiers in schools, hospitals, and other institutions is projected to play a vital role in strengthening the market."

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Competitive Landscape

Players in the global air purifier market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

• In October 2020 - Koninklijke Philips N. V. announced "The Urban Living Series," a new line of air purifiers in India. These air purifiers feature VitaShield and AeraSense Intelligent technologies for superior indoor pollutant class filtration.
• In September 2020 - LG Corporation held the first-ever virtual exhibition to demonstrate how LG appliances may be utilised to improve home living. This virtual exhibition has aided the company in showcasing its brand offering to a bigger audience at the same time.
• In September 2021- Panasonic Corporation announced that through collaboration with Professor Emeritus Yoshio Higashiyama of Yamagata University, it has developed a new nanoe™*2 X device that generates 100 times more*1 Hydroxyl (OH) radicals than the conventional nanoe™*3 device. As a result, the latest nanoe™ X device delivers increased effectiveness in air purification and deodorization in indoor spaces.

Know More about What the Air Purifier Market Report Covers

Future Market Insights offers an unbiased analysis of the global air purifier market, providing historical data for 2017-2021 and forecast statistics from 2022-2032.

To understand opportunities in the air purifier market, the market is segmented on the basis of Product Type, Charger Type, Feature, End User, and Sales Channel across six major regions.

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About the Consumer Products Division at Future Market Insights

The Consumer Product team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Summary of Key Statistics

1.3. Summary of Key Findings

1.4. Product Evolution Analysis

1.5. FMI Analysis and Recommendations

2. Market Overview

2.1. Market Taxonomy

2.2. Market Definition

3. The Massive Impact of the Crisis

3.1. An economic and labor market shock impacting the production, consumption and investments

3.2. Impact of declining global growth on unemployment based on three scenarios, world and income groups

To Continue TOC…

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