Air Purifier Market to grow by USD 5.08 billion from 2021 to 2026 | Technological innovation and portfolio extension leading to product premiumization has been a key driver for the growth of the air purifier market- Technavio
NEW YORK, Nov. 14, 2023 /PRNewswire/ -- The air purifier market is projected to progress at a CAGR of 7.14 % between 2021 and 2026, the size of the market is forecast to increase by USD 5.08 billion during the forecast period. Technological innovation and portfolio extension leading to product premiumization has been a key driver for the growth of the air purifier market. Customer preferences and requirements are changing as technology advances and innovates. For this reason, market companies must constantly innovate and research and develop to succeed in a highly competitive market. The main innovations introduced in the market relate to technology, performance, function, and design. Moreover, customers are gradually increasing their spending on air purifiers considering increasing purchasing power and increasing disposable income. Dyson, for example, offers a wide range of air purifiers that are compact and designed to fit any environment. In addition, suppliers also offer innovative, intelligent, and environmentally friendly products. For further information on Market growth and size -Request a sample report
Air Purifier Market – Market Dynamics
Major Trends- The growing popularity of energy-efficient air purifiers is one of the major air purifier market trends supporting market growth.
Key Air Purifier Market Challenge
The rise in the presence of counterfeit products will be a major challenge for the global air purifier market growth during the forecast period. The penetration of e-commerce is also facilitating the distribution, sales, and reach of counterfeit products. The relatively low price of counterfeit products is one of the factors that contribute to their demand. Hence, the availability of counterfeit products adversely affects the sales and pricing strategies of market vendors by diluting their market shares and damaging their reputations. Global vendors are compelled to lower the prices of their products, which reduces their profit margins. This also affects the value of sales in the market. Established global vendors in the market are striving to penetrate developing markets, such as India and China, which have a significant presence of counterfeit products. The presence of counterfeit products is expected to limit the growth of the market during the forecast period.
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Other Key Data Covered in Air purifier market report-
Detailed information on factors, including driver details.
Market Segmentation by Technology (HEPA, Electrostatic precipitators, Ionizers and ozone generators, and Others) and Geography (APAC, North America, Europe, South America, and Middle East and Africa)
Precise estimation of the air purifier market size and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Comprehensive analysis of factors that will challenge the growth of crowdfunding market companies
A thorough analysis of the market's competitive landscape and detailed information about companies
Growth of the industry across APAC, North America, Europe, Middle East and Africa, and South America
CAGR of the market during the forecast period
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Air Purifier Market - Company Analysis and Scope
Some of the major companies in the air purifier market are 3M Co., Aerus LLC, AllerAir Industries Inc., Americair Corp., Austin Air Systems Ltd., Blue Star Ltd., Breville Group Ltd., Camfil AB, Coway Co. Ltd., Daikin Industries Ltd., Dyson Ltd., Eureka Forbes Ltd., Guardian Technologies LLC, Hamilton Beach Brands Inc., Havells India Ltd., Honeywell International Inc., IQAir AG, Koninklijke Philips NV, LG Electronics Inc., MIDEA Group Co. Ltd., Panasonic Corp., Samsung Electronics Co. Ltd., Sharp Corp., Unilever PLC, Whirlpool Corp., and Xiaomi Inc.
Company Offerings
3M Co.- The company offers air filters such as Filtrete MPR 2800, Filtrete MPR 2200 Premium Allergen and Home Pollutants Air filters, Filtrete MPR1900, and others.
Coway Co. Ltd. - The company offers an air purifier with a Max2 Green filter that combines activated carbon and ultrafine particle filters to offer maximum performance and easy maintenance.
Daikin Industries Ltd. - The company offers air purifiers with state-of-the-art features such as steamer discharge, active plasma ion, and electrostatic HEPA filter.
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Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and key competitor positions
Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!
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Table of Contents
Executive Summary
Market Landscape
Market Sizing
Historic Market Size
Five Forces Analysis
Market Segmentation by Technology
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
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