The global air purifiers market reached a value of nearly $1,559.8.0 million in 2019, having grown at a compound annual growth rate (CAGR) of 9.0% since 2015, and is expected to grow at a CAGR of 10.8% to nearly $2,350.8 million by 2023. The market is expected to reach $2,886.0 million by 2025, and $4,819.4 million by 2030.
This report describes and evaluates the global air purifiers market. It covers 2015 to 2019, termed the historic period, and 2019 to 2023 termed the forecast period, along with further forecasts for the periods 2023-2025 and 2025-2030.
Growth in the historic period resulted from rise in air pollution levels, increasing health awareness, technological advances, and increased prevalence of respiratory diseases, increased geriatric population, and economic growth in emerging markets. Factors that negatively affected growth in the historic period were growing environmental concerns, counterfeit products, and high initial and maintenance costs.
Going forward, higher incidence of allergies, rising health consciousness, changing climate conditions, increasing prevalence of obstructive sleep apnea, coronavirus impact, and growing urbanization are expected to drive the market. High adoption and maintenance costs, UV technology used in air purifiers, ozone emissions, and underperformance are major factors that could hinder the growth of the air purifiers market in the future.
The air purifiers market is segmented by type into dust collectors, fume & smoke collectors and others. The fume & smoke collectors market was the largest segment of the air purifiers market by type, accounting for $775.9 million or 49.7% of the total market in 2019. The dust collectors market is expected to be the fastest-growing segment going forward at a CAGR of 13.6% during 2019-2023.
The air purifiers market is segmented by technology into HEPA filter, activated carbon, and others. The HEPA filter market was the largest segment of the air purifiers market by technology, accounting for $820.6 million or 52.6% of the total market in 2019 and is expected to be the fastest-growing segment going forward at a CAGR of 11.7% during 2019-2023.
The air purifiers market is segmented by end-user into residential and commercial. The residential market was the largest segment of the air purifiers market by end-user, accounting for $1,143.0 million or 73.3% of the total market in 2019. The commercial market is expected to be the fastest-growing segment going forward at a CAGR of 11.0% during 2019-2023.
North America was the largest region in the air purifiers market, accounting for 33.8% of the global market in 2019. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the air purifiers market will be Middle East and Eastern Europe, where growth will be at CAGRs of 16.7% and 14.9% respectively from 2019-2023.
The coronavirus outbreak has been impacting various industries and global economies. The air purifiers market has also been affected by the pandemic, in both positive and negative ways. The US EPA (Environmental Protection Agency) reported that when used properly, air purifiers can help reduce airborne contaminants including viruses in a home or confined space. However, by itself, a portable air cleaner is not enough to protect people from COVID-19.
The air purifiers market is highly concentrated with a small number of large players dominating the market. The top ten competitors in the market made up to 69.2% of the total market in 2019. Major players in the market include LG Electronics Inc., Coway Co., Ltd., Daikin Industries, Ltd., Dyson Ltd., Whirlpool Corporation and others.
The top growth potential in the air purifiers market by type will arise in the dust collectors market, which will gain $458.1 million in global annual sales by 2023. The top growth potential in the air purifiers market by technology will arise in the HEPA Filter market, which will gain $455.7 million in global annual sales by 2023.
The top growth potential in the air purifiers market by end-user will arise in the residential market, which will gain $575.9 million in global annual sales by 2023. The air purifiers market size will gain the most in the USA at $168.8 million.
Player-adopted strategies in the air purifiers industry include focused on expanding its air purifiers market by introducing products overseas, expanding its product portfolio with innovative technologies, focused on the expansion of its air purifiers market through sustainable investments and acquisitions.
Global Air Purifiers Market Competitive Landscape
LG Electronics Inc.
Coway Co., Ltd.
Daikin Industries, Ltd.
Key Mergers And Acquisitions In The Air Purifiers Market
Filtermist International Acquired Carter Environmental Engineers (CEE)'s Air Services Division
Freudenberg Filtration Technologies Acquired Majority Stake In Apollo Air-Cleaner Co., Ltd.
General Filters Incorporated Acquired Second Wind Air Purifier Incorporated
Filtermist International Acquired Dustcheck Limited
Unilever Acquired Blueair
Midea Group Co., Ltd. Acquired Toshiba's Appliances Business
Haier Acquired General Electric (GE)'s Appliance Division
Key Topics Covered:
1. Air Purifiers Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction 6.1.1. Segmentation By Geography 6.1.2. Segmentation By Type 6.1.3. Segmentation By Technology 6.1.4. Segmentation By End-User
7. Air Purifiers Market Characteristics 7.1. Market Definition 7.2. Market Segmentation By Technology 7.2.1. HEPA Filter 7.2.2. Activated Carbon 7.2.3. Others 7.3. Market Segmentation By Type 7.3.1. Dust Collectors 7.3.2. Fume & Smoke Collectors 7.3.3. Others 7.3.4. Residential 7.3.5. Commercial
8. Air Purifier Market Product Analysis - Product Examples
9. Air Purifier Market Customer Information 9.1. Increase In Air Purifier Sales Due To Increasing Pollution 9.2. Indoor Air Quality, Longevity Of Filters, Product Range, Noise Levels And Allergy Prevention Are Key Considerations For Consumers 9.3. Lack Of Understanding Of The Purpose And Importance Of Air Purifiers Is Limiting The Growth Of The Market
10. Air Purifiers Market Trends And Strategies 10.1. Growing Popularity Of Smart Air Purifiers 10.2. Energy-Efficient Appliances 10.3. Wearable Personal Air Purifiers 10.4. Portable Air Purifiers 10.5. Increasing Merger And Acquisition Activities 10.6. Multi-Functional Air Purifiers 10.7. Automated Air Purifier 10.8. Low Cost Affordable Air Purifiers
11. COVID Impact On The Air Purifiers Market 11.1. How Air Purifiers Capture Coronavirus 11.2. Impact On Demand And Supply Of Air Purifiers 11.3. Air Purifier Companies Are Changing Their Business Models
12. Global Air Purifiers Market Size And Growth 12.1. Market Size 12.2. Historic Market Growth, 2015 - 2019, Value ($ Million) 12.2.1. Drivers Of The Market 2015 - 2019 12.2.2. Restraints On The Market 2015 - 2019 12.3. Forecast Market Growth, 2019 - 2023, 2025F, 2030F Value ($ Million) 12.3.1. Drivers Of The Market 2019 - 2023 12.3.2. Restraints On The Market 2019 - 2023
13. Global Air Purifiers Market Segmentation 13.1. Global Air Purifiers Market, Segmentation By Technology, Historic And Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million) 13.1.1. HEPA Filter 13.1.2. Activated Carbon 13.1.3. Others 13.2. Global Air Purifiers Market, Segmentation By Type, Historic And Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million) 13.2.1. Fume & Smoke Collectors 13.2.2. Dust Collectors 13.2.3. Others 13.3. Global Air Purifiers Market, Segmentation By End-User, Historic And Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million) 13.3.1. Residential 13.3.2. Commercial
14. Air Purifiers Market, Regional And Country Analysis 14.1. Global Air Purifiers Market, By Region, Historic and Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million) 14.2. Global Air Purifiers Market, By Country, Historic and Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million)