Air Purification Systems Market is to Reach US$ 24.83 Bn by 2024: Transparency Market Research

ALBANY, New York, November 28, 2016 /PRNewswire/ --

Transparency Market Research has released a new market report titled "Air Purification Systems Market by Technology (HEPA Purifier, Ionic Purifier, Electrostatic Precipitator, UV Light Purifier, Activated Carbon Purifier and Others), by Impurity (Oil & Mist, Smoke, Fume, Dust and Others) for Industrial, Residential and Commercial End-users- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024." According to the report, the global air purification systems market was valued at US$ 12.06 Bn in 2015 and is projected to reach US$ 24.83 Bn by 2024 at a CAGR of 8.4% from 2016 to 2024.

Air purifier is a system that removes harmful contaminants from the air in a room. It is used to reduce or eliminate dust, mold spores, pollens, second-hand tobacco smoke, etc. Based on technology air purification system consists of High Efficiency Particulate Air (HEPA), activated carbon, electrostatic precipitator, UV Light and ionic purifier. Air purification system can also be classified based on impurity such as dust collector, smoke collector, oil & mist collector, fume extraction and others. The end-user sector for air purification systems are industrial, commercial and residential segment. Increasing (Indoor Air Quality) IAQ concerns and increasing health awareness related to ill effects of air pollution are the main drivers of the air purification systems. However, release of harmful byproduct and higher cost related to air purifiers are the major challenge restricting higher adoption.  

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Based on technology, HEPA purification system is the major segment and anticipated to dominate the market during forecast period followed by activated carbon due to their high efficiency in removing partculated matters and odor. HEPA has contributed majority of the share of air purification systems market and is anticipated to grow at CAGR of more than 8% during the forecast period

Based on impurity, dust collector and smoke collector has contributed more than 50% of total air purification systems market and is expected to dominate the market during forecast period due to increasing infrastructure activities, industrial activities and use of vehicles especially in developing regions which leads to increase in level of dust and smoke.

Air purification systems is widely used in the industrial, commercial and residential sector owing to its advantage of removal of harmful pollutants and maintaining clean air. In terms of end-user, industrial was the largest segment of the global air purification systems market, accounting for more than 40% share in 2015. The segment is anticipated to continue its dominance during the forecast period due to steady growth in the industries especially in emerging economies. Implementation of stringent government industrial norms and increasing awareness related to health of workers are the reasons that drives the market. Commercial is another key end-user segment of the air purification systems market owing to rising infrastructure activities and increasing awareness in healthcare, tourism and hospitality sector. Air purification systems for residential application is still at nascent stage but is also anticipated to grow during forecast period due indoor air quality concerns

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Asia Pacific dominates the air purification systems market, followed by North America and Europe. Middle East & Africai also expected to be the key upcoming markets for air purification systems during the forecast period. Significant expansion in the industry and commercial segments which results in increasing air pollution in developing regions is anticipated to be a key factor driving the air purification systems market in these regions.

The global air purification systems market is consolidated. Key players in the air purification systems market include Sharp Corporation, Jarden Corporation, Panasonic Corporation, Daikin Industries, Honeywell International, Philips Electronics N.V., Camfil Group, 3M, LG Electronics, Clarcor Inc., Fumex Inc, Eureka Forbes, etc.

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The global air purification systems market has been segmented as follows:

Air Purification Systems Market: By Technology 

• HEPA
• Activated Carbon
• Electrostatic Precipitator
• UV Light Air Purifier
• Ionic Air Purifier
• Others (Kitchen Ventilation Systems etc.)

Air Purification Systems Market: By Impurity 

• Oil & Mist
• Smoke Collector
• Fume Extraction
• Dust Collector
• Others (Pollen grains etc.)

Air Purification Systems Market: By End-use 

• Industrial
• Commercial
• Residential

Air Purification Systems Market: Regional Analysis 

• North America
  • U.S.
  • Rest of North America
• Europe
  • U.K.
  • Germany
  • France
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of South America
• Middle East & Africa (MEA)
  • Saudi Arabia
  • South Africa
  • Rest of MEA

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About TMR 

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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SOURCE Transparency Market Research