Global Residential Air Purification Equipment Market to Reach $12.2 Billion by 2026
SAN FRANCISCO, May 18, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Residential Air Purification Equipment - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 15; Released: May 2021
Executive Engagements: 11934
Companies: 146– Players covered include 3M Company; Abatement Technologies, Inc.; Airgle Corporation; Alen Corporation; AllerAir Industries Inc; Amway Corporation; Blueair AB; Camfil AB; Camfil Farr, Inc.; Carrier Corporation; Continental Fan Manufacturing Inc.; Coway Co., Ltd.; Daikin Industries, Ltd.; Dyson Ltd; Guardian Technologies LLC; Hamilton Beach Brands, Inc.; Honeywell International Inc.; Hunter Pure Air; IQAir; KENT RO Systems Ltd; Koninklijke Philips N.V.; Lennox International, Inc.; LG Electronics Inc.; MANN+HUMMEL GMBH; Newell Brands Inc.; Sunbeam Products, Inc.; Panasonic Corporation; Panasonic Ecology Systems Co., Ltd.; SANYO Electric Co., Ltd.; Research Products Corporation; Samsung Electronics Co., Ltd.; Sharp Corporation; Steril-Aire, Inc.; Trion, Inc.; Whirlpool Corporation; White-Rodgers Company; Xiaomi, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Type (Stand-Alone, In-Duct); Technology (High Efficiency Particulate Air (HEPA), Other Technologies); Product (Dust Collectors, Fume & Smoke Collectors, Other Products)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Residential Air Purification Equipment Market to Reach $12.2 Billion by 2026
Residential air purification equipment is designed to remove air borne contaminants and improve Indoor Air Quality (IAQ) in residential settings. The market expansion can be credited to confluence of several factors like aggravating air quality in indoor settings, the onslaught of COVID-19 pandemic and rising investment in smart homes. Stand-alone air purification equipment continues to dominate the market, fueled by increasing adoption of portable units to remove allergens and pollutants in indoor settings and more cost effectiveness of these devices in comparison to in-duct systems. Increasing popularity of ambient-assisted living and smart homes is expected to boost the demand for HEPA technology for residential air purifiers. The threat of emerging viruses such as COVID-19, SARS, and Ebola also provide great growth opportunities for air filtration and purification products in residential and commercial buildings, hospitals and other facilities. Amid the COVID-19 crisis, the global market for Residential Air Purification Equipment estimated at US$8.6 Billion in the year 2020, is projected to reach a revised size of US$12.2 Billion by 2026, growing at a CAGR of 6% over the analysis period. Stand-Alone, one of the segments analyzed in the report, is projected to record 6.2% CAGR and reach US$10.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the In-Duct segment is readjusted to a revised 5.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.5 Billion in 2021, While China is Forecast to Reach $2.4 Billion by 2026
The Residential Air Purification Equipment market in the U.S. is estimated at US$2.5 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2026 trailing a CAGR of 8.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR. Growth in the US market is heading for major gains on account of increasing air pollution coupled, rising concerns pertaining to indoor air quality, availability of smart and multifunctional air purifiers, and increasing adoption of energy-efficient devices. Strong gains for these devices across emerging markets can be credited to increasing pollution levels, rising incident of diseases associated with air pollution and enhanced consumer awareness. The market is anticipated to also benefit from increasing disposable income, growing consumer spending and rising government expenditure towards effective monitoring of air quality. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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