APAC Air Purifier Market Report 2018: Analysis & Forecasts (2017-2026) - Market Projected to Grow at a CAGR of 24.5% to Reach $34.5 Billion
DUBLIN, March 12, 2018 /PRNewswire/ --
The "APAC Air Purifier Market: Focus on Filter Technology, Coverage Area & End - Analysis & Forecast 2017-2026" report has been added to ResearchAndMarkets.com's offering.
In terms of value, the APAC air purifiers' market size is estimated to be $34,518.6 million in 2026 growing at a CAGR of 24.5% between 2016 and 2026.
The market has been experiencing a rapid growth rate since the past few years owing to the economic development, increasing air pollution levels, and growing awareness among consumers regarding the advantages of air purifiers. The increasing pollution levels in the countries of Asia-Pacific such as India, Japan, China, and Indonesia, among others, stringent governmental regulations regarding the indoor air quality index, and increasing health and environmental concerns are the major accelerators of the growth of the air purifiers market in the Asia-Pacific countries.
The APAC air purifiers market can be classified by filter technology which include HEPA, activated carbon, ionization, and electrostatic precipitator. HEPA filter technology is expected to be the largest and fastest growing segment of the APAC air purifier market both by value and units with a market share of 38.4% and 45% respectively in 2016.
Coverage area is an important criteria for the selection of air purifiers for different applications. Air purifiers for coverage area of more than 400 square feet is expected to be the fastest growing market in terms of value and volume. They find applications in hotels, offices, schools, metros, large crowded areas, and hospitals. Mid-sized coverage air purifier is expected to witness a healthy CAGR in the forecast period owing to boosting residential application in Japan, South Korea and China.
The APAC air purifiers market revolves around the major end-use industries which include residential and commercial sectors. The commercial end-user industry dominated the APAC air purifiers market in 2016 and is expected to grow at a CAGR of 25.2% respectively between 2017 and 2026. Air purifiers are increasingly used in embassies across the APAC region. It is due to rapid industrialization, increasing employment opportunities, education exchange programs, increased tourism and political aspects bringing expats in the APAC region.
The trends of the APAC air purifiers market varies with different geographical countries. The APAC air purifiers market holds a prominent share in various countries of Asia-Pacific (APAC) such as India, China, Japan, Malaysia, Indonesia, and Singapore, among others. China is dominating the APAC air purifier market on account of growing consumer awareness about air purifiers and increasing vehicular emissions leading to the growth in the pollution levels. Additionally, increasing industrialization and growing consumption of coal for power generation leads to rise in soot and degradation of the indoor air quality that consequently propels the growth of the air purifiers market in China.
The competitive landscape for the APAC air purifiers market demonstrates an inclination towards companies adopting strategies to expand their business, launching products with innovative technology, and focusing on research and development activities. Some of the major established players in the APAC air purifiers market are focusing more on product launches to keep a strong hold on the market. Panasonic Corporation, Samsung Corporation, Daikin Industries Ltd, Honeywell International Inc., Blueair AB, Eureka Forbes, Whirlpool Corporation, Coway Co. Ltd., LG Corporation, Midea Group Co. Ltd., and Sharp Corporation are some of the prominent companies in the APAC air purifiers market. These companies are actively aiming at an increased number of agreements, partnerships, & collaborations, and products to expand their operations, thereby, enhancing their share in the APAC air purifiers market. These companies expanded their business in different countries to increase their customer base in the market.
The need for more R&D and appropriate regulatory environments is a prerequisite for sustained growth of this market. Various government and private research institutes, and regulatory bodies and associations are putting in substantial efforts to identify how air purifiers can be manufactured with advanced filter technologies and with higher efficiency to curb the intake of air pollutants present in the indoor air. Some of the major companies are focusing on technological innovations through heavy R&D investments for the development of integrated filter technology and silent bed room air purifiers. With such technological advancements in air purifiers, the market for air purifiers in Asia-Pacific is expected to propel during the forecast period.
Market Dynamics
Drivers
- Significant Level of Degradation of Air Quality Leading to Several Health Problems
- Increasing Disposable Income
- Health Awareness Through Various Channels
- Increasing Air Pollution Levels in Asia-Pacific
Restraints
- Knowledge Gap about Air Purifiers
- High Maintenance and Replacement Costs
- Harmful Emissions from Air Purifiers
Opportunities
- Increasing Adoption of Air Purifiers in Commercial and Residential Areas
- Advancement in Technology for the Development of Air Purifiers
- Growing Demand from the Asia-Pacific Countries
Key Topics Covered:
1 Report Scope & Methodology
2 Market Dynamics
3 Competitive Insights
4 Industry Analysis
5 APAC Air Purifiers Market, by Filter Technology, 2016-2026 ($Million and 000 Units)
6 APAC Air Purifiers Market, by Coverage Area, 2016-2026 ($Million and 000 Units)
7 APAC Air Purifiers Market, by End-Users; 2016-2026 ($Million and 000 Units)
8 APAC Air Purifiers Market, by Country; 2016-2026 ($Million and 000 Units)
9 Company Profiles
- Blueair AB
- Coway Co. Ltd.
- Daikin Industries Ltd.
- Eureka Forbes
- Honeywell International Inc.
- Koninklijke Philips N.V
- LG Corporation
- Midea Group Co. Ltd.
- Panasonic Corporation
- Samsung Corporation
- Sharp Corporation
- Whirlpool Corporation
For more information about this report visit https://www.researchandmarkets.com/research/hx7kpx/apac_air_purifier?w=5
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SOURCE Research and Markets
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