Over 70% of Air Purifier Sales to Concentrate within Commercial Sector: Fact.MR
NEW YORK, June 8, 2021 /PRNewswire/ -- With deteriorating environmental conditions and rising toxicity levels in the atmosphere, demand for air purifiers across the globe is accelerating, finds Fact MR in a new study.
Expansion of public and private infrastructure, with massive construction projects being undertaken, there's a surging demand of air purifiers in industrial as well as commercial sectors.
Environmental pollution concerns across India, China, U.K., and the U.S. is increasing. This has bolstered the adoption of air purifiers, accelerating the market growth. Growing concern about indoor and outdoor air quality across the U.S. and U.K is fueling the demand of air purifiers.
Furthermore, growing dependency on air conditioners within residential as well as industrial sectors have increased the emission of particulate matter. Considering this, demand for high efficiency particulate air (HEPA) filtration air purifiers is witnessing a strong growth within those sectors.
As per the Fact.MR's study, HEPA filtration air purifiers is anticipated to account for over 40% total market share, exhibiting an impressive growth of around 9% CAGR through 2031.
Increasing air pollution across the globe have led to the rising cases of asthma and lung diseases, thereby improving the adoption of air purifiers. Fact.MR estimates, the global air purifier market is poised to expand at 10% CAGR, surpassing US$ 20 billion by 2031.
"Stringent regulation implemented by governments are propelling the demand of air purifiers, especially across South Asia & Oceania. Driven by this, key players have increased their research & development activities for introducing lightweight and advanced air purification technology," says a Fact.MR analyst.
Prominent manufacturers are focusing on expansion of their product portfolios through product launches and innovation in their product lines. Strategic mergers, collaborations and partnerships are some of the other strategies adopted by key players for future expansion prospects. Forging alliance with regional as well as global players seem to be one f the core strategy to expand their global footprint.
On June 3rd 2021, Instant Pot, known for its popular electric kitchen appliances product line, announced the launch of its own line of air purifiers. Currently, the line includes the Instant Large Air Purifier and the Instant Small Air Purifier along with replacement filters.
In September 2020, Molekule, a U.S-based science and technology company, announced the launch of its India operations by introducing its air purifiers on Amazon. The new launch of air purifier comprises of scientifically advanced air purifiers using photo electrochemical oxidation (PECO) technology. The air purifier manufactured by PECO technology is capable of destroying a wider range of airborne pollutants as compared to traditional air purifiers.
Another key player, Kronos Advanced Technologies Inc., in February 2021, declared that its newest technology air purifier, Model 5 (X5) patented air purification based on Kronos CORE Technology, is capable of destroying a 99.02% kill rate of live air-borne SARS-CoV-2 virus in just 30 seconds, within a six cubic feet test chamber. The company has applied for the clearance of U.S. Food & Drug Administration (FDA) and the technology will be used for all of its models of air purifiers.
Prominent air purifier manufacturers listed in Fact.MR's report are listed below:
More Valuable Insights on Air Purifier market
Fact.MR, in its new offering, offers an exhaustive analysis on the global air purifier market. The study divulges essential insights on the major trends and opportunities of global air purifier market. To gain a better perspective on the market potential and scope, the market is classified on the basis of:
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