Global Residential Air Purification Equipment Market to Reach $12.2 Billion by 2026

SAN FRANCISCO, March 11, 2022 /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.

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Edition: 16; Released: February 2022
Executive Pool: 11934
Companies: 125 - 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 US$12.2 Billion by the Year 2026
Residential air purifiers are advanced devices for improving indoor air quality, reducing air pollutants and ventilating homes with clean air by filtering air and eliminating pollutants. Residential air purification equipment is gradually transcending its popular perception of being considered as a luxury, non-essential product. Today, thanks to painstaking manufacturer efforts, air purifier equipment is evolving into a necessity, a crucial and critical element to be a part of every modern home. The growing clamor over the health risks posed by poor indoor air quality has played an instrumental role in giving this equipment a status of indispensability. Moreover, increase in consumer spending power and investments made in home improvement also contribute to the growing use of air purification equipment. The market growth is further augmented by rising awareness regarding environmental and health implications related to air pollution, favorable policies for air pollution control and monitoring, and growing public/private funding. Moreover, increasing adoption of high-end, faster and safer air purifiers in residential buildings and homes is anticipated to provide an ideal platform for future expansion of the market.

Amid the COVID-19 crisis, the global market for Residential Air Purification Equipment estimated at US$9.4 Billion in the year 2022, 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 grow at a 6.2% CAGR to 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. This segment currently accounts for a 22.4% share of the global Residential Air Purification Equipment market. Stand-alone air purification equipment continues to lead the market for residential air purification equipment market. The segment's growth is 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. Induct air purification equipment market is witnessing growth led by improved penetration rates, owing to the increase in the number of people adopting high-end products.

The U.S. Market is Estimated at $2.6 Billion in 2022, 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$2.6 Billion in the year 2022. The country currently accounts for a 28.26% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.4 Billion in the year 2026 trailing a CAGR of 8.1% through 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 while Rest of European market (as defined in the study) will reach US$3.7 Billion by the end of the analysis period. Developed regions in North America and Europe are the major air purifiers markets globally. The residential air purifiers market in the US is heading for major gains on account of increasing air pollution coupled with rising concerns pertaining to indoor air quality. The market growth is augmented by robust gains posted by the HEPA segment that is estimated to make a significant contribution in the coming years. In addition, the availability of smart and multifunctional air purifiers and increasing adoption of energy-efficient devices are anticipated to provide a notable impetus to the market. The residential air purifiers market in Asia-Pacific is exhibiting strong gains owing to increasing adoption of sophisticated technologies to monitor indoor air quality. The region is witnessing strong focus on product innovation and technological advances related to particulate sensors. More

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SOURCE Global Industry Analysts, Inc.