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The global air purifier market size is estimated to increase by USD 5,580.84 million, at a CAGR (Compound Annual Growth Rate) of 7.3% between 2022 and 2027. The growth of the market depends on several factors such as technological innovation and portfolio extension leading to product premiumization, the growing air pollution levels, and the convenience and ease of using air purifiers.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The technological innovation and portfolio extension leading to product premiumization are driving growth in the market. Over the years, there has been an increase in competition in the market. In addition, the growing technological advances and innovations have changed customers' preferences and demands, thus driving the demand for innovative products. This has made it difficult for competitors to compete in the market, so they have continuously engaged in innovation and research, and development.
In addition, with the growing purchasing power and rising disposable income, customers are gradually increasing their spending on purifiers. The performance is expected to be positively influenced by increased investments from markets in developing innovative materials and technologies, along with reforming the interior aesthetic appeal of households and commercial spaces. The growing customer expenditure on purifiers will drive value sales in the market during the forecast period.
The introduction of smart, connected air purifiers is a key trend in the market. Increasing demand for air purifiers and increasing demand for advanced air purifiers and innovative products increase opportunities for companies to introduce purifiers. The smart purifiers offered in the market are user-friendly, feature various technologies, and are aesthetically improved, thus enabling users to operate purifiers easily without any hassle.
However, to address the growing demand for smart purifiers, many companies have started offering smart air purifiers in the market. It will also allow users to control the system and check air quality by means of an application. The introduction of such purifiers will drive the market growth and trends during the forecast period.
The long product lifecycle is a major challenge in the market. Air purifiers that, when cleaned, are continuously in contact with humid environments and maintenance processes can get damaged due to rusting. To avoid such risks, companies produce air purifiers with stainless steel or high-grade plastic materials, thus ensuring that these appliances are both lightweight and long-lasting.
Moreover, the long replacement cycle of purifiers reduces the frequency of their replacement, thus limiting the year-over-year growth of the market. There is a reduction in the frequency of product purchases due to lower maintenance requirements for purifiers. These factors are likely to hinder the growth of the market during the forecast period.
The market trends and analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3M Co.- The company offers air purifiers such as Filtrete Smart Room air purifier FAP SC02W medium room, Filtrete Smart Room air purifier FAP ST02 large room.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The commercial segment is estimated to witness significant growth during the forecast period. In many commercial spaces, such as educational institutions, shopping malls, workplaces, hospitals, hotels, theaters, and other commercial locations, purifiers are used. Restaurants and hotels use activated carbon and HEPA air purifiers to remove harmful particles, smoke, and odors in the air, improving indoor air quality.
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The commercial segment was the largest segment and was valued at USD 5,891.31 million in 2017. The demand for filters is being driven by rapid urbanization in developing countries like India. Thus, the rapid adoption of purifiers owing to their benefits, including the removal of allergens and harmful particles from the air, is expected to fuel the commercial segment, thereby spurring the growth of the market during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is considered to be the largest geographical segment of the market, and the market is anticipated to grow at a significant rate during the forecast period owing to rising pollution levels in countries such as India and China.
Due to the increasing introduction of world brands and products on the market, this very strong growth in APAC markets is accounted, for the rising adoption of premium and technologically advanced, the growing knowledge and awareness and their benefits, and the development of the commercial sector. China is the most prominent market in APAC, owing to the growing concerns over deteriorating air quality and the increased spending by Chinese consumers on purifiers.
The market is experiencing significant growth due to the increasing awareness of indoor air quality and the rise of technologically improved air purifiers. These advanced devices utilize wireless technologies such as Wifi and Bluetooth for indoor air quality monitoring and basic settings adjustment. Consumers in metropolitan regions, residential applications, construction activity, and fast urbanization areas are particularly interested in cleaners that effectively remove contaminants like unpleasant smells, pollen, dangerous chemicals, and allergens. Airborne diseases, allergies, and secondhand tobacco smoke are major concerns for asthmatics and allergy sufferers, making active purifiers with negatively charged ions and passive air purification units essential.
Dust and particulate matter, including high-efficiency particulate air (HEPA) filters and ultraviolet germicidal irradiation (UVGI), are crucial components in purifiers. Product innovation continues to drive the market, with energy efficiency and cost-effectiveness becoming increasingly important. Energy consumption, fuel sources, and carbon emission are significant factors, with stringent laws and regulations pushing for energy-efficient electronic goods, such as home electronics and energy star-rated appliances. Filter changes, maintenance, and replacement frequency, including carbon filter expenses and HEPA filter particle removal and gas removal capabilities, are essential considerations for consumers seeking value for money.
The market growth analysis report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Air Purifier Market Scope |
|
Market Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.3% |
Market growth 2023-2027 |
USD 5,580.84 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.85 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., AllerAir Industries Inc., Americair Corp., AustinAir, Blue Star Ltd., Breville Pty Ltd, Camfil AB, Daikin Industries Ltd., Dyson Group Co., Eureka Forbes Ltd., Hamilton Beach Brands Holding Co., Havells India Ltd., Honeywell International Inc., IQAir AG, Koninklijke Philips N.V., LG Electronics Inc., MIDEA Group Co. Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., and Whirlpool Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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