Air Purification Equipment Global Market Report 2023

NEW YORK, Feb. 23, 2023 /PRNewswire/ -- Major players in the air purification equipment market are Daikin Industries Ltd, Sharp Corporation, Camfil Group, Philips Electronics N.V, LG Electronics Inc, Panasonic Corporation, 3M Company, Mann+Hummel, Honeywell International Inc, and Clarcor Inc.

Read the full report: https://www.reportlinker.com/p06282459/?utm_source=PRN

The global air purification equipment market will grow from $60.75 billion in 2022 to $66.1 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The air purification equipment market is expected to grow to $89.05 billion in 2027 at a CAGR of 7.7%.

The air purification equipment market consists of sales of ultraviolet air purifiers, HEPA air purifiers, activated carbon air purifiers, ionic air purifiers, electronic air cleaners, central air cleaners, air-to-air exchangers.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

The air purification equipment refers to a device used for removing contaminants from the air in a room to improve indoor air quality.

The Asia Pacific was the largest region in air purification equipment in 2022.Western Europe was the second largest region in the air purification equipment.

The regions covered in the air purification equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main product types of air purification are stand-alone air purification equipment and induct air purification equipment.An in-duct air purifier will be installed directly into the air duct path.

It will be installed either before or after the air handler in homes with a central HVAC unit.The technologies involved are HEPA, electrostatic precipitators, activated carbon, ionic filters, and other technologies.

The various end-users involved are residential, commercial, and industrial.

Increasing health problems due to air pollution is projected to boost the demand for the air purification equipment market.Rising deaths and diseases caused by air pollution are generating higher demand for devices used for air purification to remove harmful pollutants in the air.

According to the World Health Organization (WHO), air pollution is a major cause of death and various diseases. Air pollution is responsible for approximately 4.2 million deaths annually across the globe, mainly from heart disease, chronic obstructive pulmonary disease, lung cancer, acute respiratory infections, and stroke. In the USA alone, there are around 200,000 premature deaths annually. Moreover, air pollution is alone responsible for 29% of lung cancer, 43% of chronic obstructive pulmonary disease, 17% of acute lower respiratory infection, and 24% of stroke of all deaths and diseases worldwide. The increase in impurities in the air is expected to drive the demand for the air purification equipment market during the forecast period.

The risk and high maintenance charges associated with the air purification equipment are expected to limit the growth of the air purification equipment market.Air purification systems are good at eliminating dust, but may not prove an effective solution for removing bad odour.

Some air purification systems release an excess number of ions in the air which leads to ozone emissions and is considered to be harmful to the environment.Moreover, high maintenance charges on disposable and replaceable filters ranging between $20 and $200 are another major restraint for market growth.

These disadvantages associated with the usage of air purification systems are expected to hamper the air purification equipment market during the forecasted period.

Partnerships and collaborations by the industry players are gaining popularity in the air purification equipment market.Major companies are strategically acquiring start-ups and mid-sized companies in the air purification market to broaden the products and services offered by the company.

Strategic collaborations and partnership agreements help companies to expand their existing product portfolio and geographical reach.For instance, in May 2022, ScentAir partnered with HealthWay to introduced DFS Compact and DFS Ultrafine, an innovative air purification system that combines HealthWay's patented Disinfecting Filtration System technology with ScentAir's service.

The DFS Compact and DFS Ultrafine are fully portable in-room solutions for providing pure air.

In January 2021, Daikin, an Indian based Airconditioning manufacturer acquired Citizen Industries for an undisclosed amount.With this acquisition of citizen industries, Daikin would strengthen its presence in the fast-growing commercial air-conditioning mark and expects the segment to increase its contribution up to 35 percent of its turnover from next year.

Citizen industries is an India-based manufacturer and distributor of applied secondary equipment.

The countries covered in the air purification equipment are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The air purification equipment market research report is one of a series of new reports that provides air purification equipment market statistics, including air purification equipment industry global market size, regional shares, competitors with an air purification equipment market share, detailed air purification equipment market segments, market trends and opportunities, and any further data you may need to thrive in the air purification equipment industry. This air purification equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Read the full report: https://www.reportlinker.com/p06282459/?utm_source=PRN

About Reportlinker

ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

Contact Clare: [email protected]

US: (339)-368-6001

Intl: +1 339-368-6001

SOURCE Reportlinker