Air Purifier Market Size Worth $7.3 Billion by 2025 | CAGR: 8.2%: Grand View Research, Inc.
SAN FRANCISCO, Aug. 7, 2019 /PRNewswire/ -- The global air purifier market size is expected to reach USD 7.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.2% over the forecast period. Rising smog problem and pollution is a serious issue considered by the government and citizens across the globe.
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Read 80 page research report with TOC on "Air Purifier Market Size, Share & Trends Analysis Report By Technology (HEPA, Activated Carbon), By Coverage Area (100 - 200 Sq. Ft, Above 200 - 400 Sq. Ft), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/air-purifier-market
Factors such as portability, increasing airborne diseases, and growing health consciousness among consumers are driving the market. High demand from Tier-I cities across the globe is driving the market owing to growing smog and presence of consumers with high purchasing power. Consumers are taking this issue into their own hands and are rushing to purchase air purifiers, which is fueling the market growth.
Growing industrial sector, deterioration of air quality in developing and developed countries, and rising environmental pollution are influencing governments to impose laws on reducing pollution and launce favorable schemes to increase adoption of air purifiers. As countries are not very effective in controlling the outdoor quality at this moment, air purifiers are mostly preferred to keep the indoor air fresh.
Multi-functional air purifiers have emerged as the new trend in the market as consumers are demanding air purifiers having functionality of air purifier, along with humidifiers and dehumidifiers, offering better value for money in various cost centric countries. For instance, Panasonic launched its humidifying series to cope up with this trend, distinguishing itself from its traditional line of airpurifiers.
HEPA air purifier accounted for the largest market share in 2018 and is estimated to be the fastest growing segment over the forecasted period owing to its high efficiency as it is manufactured by using ultra-fine and glass fiber media. It captures the contaminants from air by using simple physics of particles moving through air to collect and purify air.
Activated carbon air purifiers held the second largest share in 2018. They are estimated to witness growth over the forecast period owing to their special property to remove volatile organic compounds (VOCs), odors, and other gaseous pollutants from the air. They are mostly used to remove gases and are specially designed to remove odor from air such as smell of tobacco smoke, gases from cooking, or pet odors.
Asia Pacific is estimated to be the fastest growing region over the forecast period owing to increasing rate of deaths caused by air pollution. As per the State of Global Air report, around 60% (846 million) and 32% (452 million) of population is exposed to household air pollution in India and China respectively. As per the Health Effects Institute, many developing countries in Asia Pacific have higher death ratio in the range of 400 - 180 deaths per 100,000 people as compared to other countries.
These factors are creating more opportunities for manufacturers in the region to establish a strong foothold in the air purifier market. Air purifiers are the most demanding household appliance in many of Tier-I cities of China, making it the fifth most preferred item after air-conditioners, refrigerators, washing machines, and TVs.
Grand View Research has segmented the global air purifier market on the basis of technology, coverage area, and region:
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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