FELTON, California, June 10, 2020 /PRNewswire/ -- The global Air Purifier Market size is estimated to reach USD 18.21 billion, by 2027, and is projected to grow at a CAGR of 10.8% from 2020 to 2027, according to a new report by Million Insights. Increasing pollution particularly in urban cities along with growing prevalence of airborne diseases is projected to propel the demand for air purifiers in coming years. In addition, growing health awareness and rising income levels of consumers is also boosting the market growth.
Demand for the product is increasing owing to rising concerns for chronic respiratory disorder. Moreover, growing health consciousness among consumers is also projected to increase the demand for the product. The product has high demand from restaurants, hotels operators for better air purification.
Air purifiers are primarily used in power plants, manufacturing, and HVAC industries. It helps in eliminating asbestos, smoke, dust, and harmful particles which are not good for health and environment.
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Air Purifiers are now designed with features such as sensors, indicators, and Wi-Fi. In addition, the AI enabled purifiers are also expected to gain momentum over the next few years, owing to its features such as voice recognition. These factors are anticipated to have positive effect on the air purifier market growth from 2020 to 2027.
Increasing number of air pollution control campaigns across the globe by governments of various nations is anticipated to bolster the demand for the air purifier. Government authorities are also implementing stringent policies for maintaining air quality, which is expected to propel the market growth.
Further key findings from the report suggest:
- Based on technology, HEPA segment held the largest share of 37.8% in the overall market, in 2019. These technology embedded products are efficient in trapping pollens, and dust particles.
- In 2019, the commercial segment held the largest market share of 71.0% in the overall market, the region is anticipated to grow significantly owing to the increasing number of hospitals, hotels, and institutes.
- Asia Pacific held the largest share in the overall market, owing rapid industrialization in countries such as China and India.
- North America is anticipated to grow at the CAGR of 10.7% owing to the growing prevalence of airborne diseases.
Browse 80 page research report with TOC on "Global Air Purifier Market" at: https://www.millioninsights.com/industry-reports/global-air-purifier-market
Million Insights has segmented the air purifier market based on technology, application, and region:
- Air Purifier Technology Outlook (Revenue, USD Million, 2016 - 2027)
- High Efficiency Particulate Air
- Activated Carbon
- Ionic Filters
- Air Purifier Application Outlook (Revenue, USD Million, 2016 - 2027)
- Air Purifier Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- Central & South America
- Middle East and Africa
- Saudi Arabia
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SOURCE Million Insights