Air Treatment Market by Product and Geography - Forecast and Analysis 2020-2024
- Published: Jan 2020
- Pages: 149
- SKU: IRTNTR40390
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The air treatment market size has the potential to grow by $ 9.94 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in the year-over-year growth.
This report provides a detailed analysis of the market by product (air purifier, dehumidifier, and humidifier) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Ahlstrom-Munksjö Oyj, Daikin Industries Ltd., Donaldson Co. Inc., General Electric Co., Honeywell International Inc., LG Electronics Inc., Rabbit Air, Robert Bosch GmbH, Samsung Electronics Co. Ltd., and Sharp Corp.
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Market Competitive Analysis
The market is fragmented, and the degree of fragmented will remain the same over the forecast period. Vendors are focusing on adopting organic growth strategies such as new product launches and new means of product distribution to gain a competitive edge. LG Electronics Inc., Rabbit Air, Robert Bosch GmbH, Samsung Electronics Co. Ltd., and Sharp Corp. are some of the major market participants. Although the growing adoption of air treatment products in emerging markets will offer immense growth opportunities, the health issues caused by unclean air treatment products will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market positions, this air treatment market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this air treatment market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Ahlstrom-Munksjö Oyj
- Daikin Industries Ltd.
- Donaldson Co. Inc.
- General Electric Co.
- Honeywell International Inc.
- LG Electronics, Inc.
- Rabbit Air
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Sharp Corp.
Air Treatment Market: Segmentation by Region
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APAC was the largest air treatment market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rapid urbanization and industrialization, government initiatives, and availability of various products for different setups in the region are significantly driving the air treatment market share growth in this region.
Over 44% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for air treatment products in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Air Treatment Market: Segmentation by Product
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Air purifiers have versatile applications across commercial, residential, and industrial sectors. Vendors are offering air purifiers with high-efficiency particulate air (HEPA) filters, anti-bacterial filters, and ultraviolet filters. Moreover, they are launching new products with better features such as dual filtration technology to cater to the rising demand for air purifiers.
Market growth by the air purifier segment will be slower than the growth of the market by the other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the air treatment market size.
Air Treatment Market: Key Drivers and Trends
Developing markets such as APAC, MEA, and Latin America are providing vendors with immense business opportunities, leading to air treatment market growth. The growth is attributed to rising urbanization and growing steel, automotive, and construction industries, which have created a need to improve the quality of breathing air quality. The rising sales of air treatment products in these regions are also attributed to the increasing disposable income and the growing awareness about the health benefits of using purifiers, humidifiers, and dehumidifiers. Noting such growth opportunities, vendors are further launching new products with improved features. For instance, Sharp launched an air purifier cum humidifier in March 2019.
- Vendors are increasingly focusing on manufacturing smart purifiers that overcome drawbacks of regular air purifiers, such as their inability to provide information on the type of impurities present in the environment and the frequency of cleaning.
- Smart purifiers are designed with connected technology that allows end-users to track and control air quality with the help of smartphone applications.
- The ability of smart air purifiers to conserve energy and optimize the time taken to purify the surrounding air is significantly driving their sales.
- Vendors are further launching upgraded products, which is one of the key air treatment market trends to drive sales.
- The global air treatment market is expected to record a CAGR of almost 8% during 2020-2024.
Air Treatment Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive air treatment market growth during the next five years
- Precise estimation of the air treatment market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the air treatment market industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of air treatment market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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