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The OG Analysis Air Purifier Market outlook for 2020-2026 forecasts the market trends and drivers positively impacting the market growth. Air purifiers maintain ozone levels, improve the air quality and kill the disinfectants present in air.
Growing health and hygiene consciousness and numerous diseases spread by air drive the Air Purifier market value to new dynamics for both commercial and residential sectors. Based on this trend, OG Analysis expects air purifier market revenues to exceed by 2026 at a CAGR of 8.43%.
The scope of OG Analysis report is to present Air Purifier Market outlook based on segmentation by high-efficiency particulate air, electrostatic precipitation and activated carbon filter types, by commercial, industrial and residential applications. Further, key regions along with their growth prospects are analyzed across Air Purifier types, segments and application verticals.
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Key Air Purifier market growth drivers during the forecast period 2020-2026
The rise in incidence of pulmonary disorders (COPD), lung cancer and chronic respiratory diseases shifts the air purifier market trend towards necessity space rather than a luxury consumer product. In 2020, statics estimates that global residential air purifier market to be a size of about 18 million units.
Degrading air quality as a result of climatic conditions and rise in anthropogenic pollution sources drives the consumption of air purifier units. Further, the sedentary lifestyle with more time spent indoors drives the market growth in terms of volume. Environmental Protection Agency (EPA) reports that indoor air may be substantially worse than the outside air.
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WHO estimates that 90% of people worldwide breathe polluted air, hence governments focus on controlling the air quality to reduce the burden of respiratory diseases in tourist and public places boost the market growth during the forecast period. For instance, the prime tourist place in India, Taj Mahal is being stationed with mobile air purifier vans, by government authorities.
Air Purifier Market trends enticing the market value over the estimated period through 2026
Apart from product differentiation and pricing competition, air purifier market players are investing in R&D efforts and patent technologies to serve the consumers’ with distinct features of air purifiers.
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Smart and connected air purifiers with automatic purification settings, aerodynamic design, and nano protect Pro Filter as well as OLED display is in the market trend. Further, automotive air purifiers are increasingly entering the market growth phase.
A major contribution is also observed from clean-tech start-ups which are expanding product portfolio. For instance, a market entrant, AirOk Technologies offered an air purifier unit with EGAPA Comfort filter that can absorb Carbon Dioxide (CO2).
Further, with potential as an alternative for allergic patients high-efficiency particulate air filters are penetrating market growth and target removal of dust mite, pollen as well as biological and chemical pollutants.
Air Purifier Market share prospects across key regions during 2020-2026
Based on regional synopsis, the market growth across Asia Pacific is driven by rising incidences of chronic lung diseases and cancer attributed to poor air quality and rising air pollution. During the forecast period, the market size is estimated to expand with air purifier segment being the fast-moving electrical good consumed across the region.
The ongoing government initiatives and the ongoing installation of heavy industry air purifiers in public place, across metros and cities at a pan level drive the market growth across the Asian Countries.
Accordingly, funds are to be released by municipal corporations in countries such as India to install air purifiers. For example, purifiers will be supplied to the GHMC by start-up Strata Enviro, which manufactures outdoor pollution controller. Hence, growth of market entrants is observed across the regions which drive the growth market value and size.
In addition, the air purifier market growth is emerging across South Korea and China with growing automotive manufacturers investing in SUVs equipped with air purifiers.
Furthermore, unhealthy air conditions across developed regions drive market growth during the forecast. For instance, it is claimed by American Lung Association that more than four in 10 people in the United States are exposed to unhygienic air.
Key OEMs across Americas are investing in air purifier units to serve the requirements of its consumers. Accordingly, in 2019, Molekule released a compact air purifier system for U.S homes which can remove a wide array of indoor pollutants from the air as well as volatile organic compounds (VOCs). In addition, recently, American based Acco Brands launched air purifier product Trusen which cleanses airborne allergens and asthma triggers.
Competitive landscape across Air Purifier market players during the fiscal term
Key OEMs have strengthened their product portfolios to harness lucrative growth prospects in an evolving ecosystem. Contract manufacturing partner for production of air-purifiers as well as the strategic approaches is observed across key market players.
The recent launches forayed into the air-purifier segment by key market players in 2019 include, Freshia by Havells with claims of nine stage filtration as efficient room air-purifier, Mi Air Purifier 2C launched by Xiaomi, and ‘Atmosphere Mini’ home air purifier by Amway, as well as Pure Cool Me by Dyson.
Further, market players are making bold marketing moves by strategizing sales and commercialization through e-platforms to capture market share in the fast-growing smart air purifier segment. For instance, Eureka Forbes launched two new smart air purifiers named Aeroguard AP 700 DX and Dr. Aeroguard HPA 500 which can be purchased directly from the company official website.
Prominent players contributing air purifier market share in the air purifier space include Havells, Dyson, Atlanta Healthcare, Blue Star Ltd, Blue air AB, Crusaders India Pvt. Ltd, Daikin Industries, Ltd., Samsung Electronics Co Ltd, HSIL Ltd, LG Electronics Inc., Xiomi and Eureka Industries Ltd.
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