Los Angeles, November 28, 2019 –QY Research has recently published a report with an extensive study on the market titled, “Global Household Air Purifiers Market Research Report 2019”. The report states that the global Household Air Purifier Market valued US$ 7.9 Bn, in 2018 and is projected to reach around US$ 13 Bn by 2025, exhibiting a healthy CAGR of 7.7%, during 2019 to 2025. The market is witnessing robust growth for the last few years mainly because of unhealthy air quality due to air pollution and rapid climatic change.
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Concerns Regarding Air Quality are Fuelling the Growth of the Market
Deteriorating air quality, increasing spending power, and rapid urbanization are the major factors responsible for driving the growth of the market. Increasing instances of airborne diseases have resulted in the market witnessing high demand for Household Air Purifiers. Technological advancement is another factor contributing to the growth of the market. The increasing need for air filters due to the booming construction sector has fuelled the demand for Household Air Purifiers resulting in the growth of the market. However, high costs associated with the product are expected to hinder the growth of the market.
Rising Awareness Regarding Health to Propel the Growth of Application Segment
Based on type, the global Household Air Purifiers market is segregated into active carbon, HEPA, Ion and ozone generator, Electrostatic precipitator, and Others. Based on applications, the market is bifurcated into Bedroom, living room, kitchen, and others. Increasing awareness regarding health and unhealthy air quality due to air pollution inside the house is expected to propel the growth of the entire application segment. Air pollutants such as pollen, dust, allergens, odor, and bacteria are responsible for poor air quality in-doors resulting in the need to filter the air in houses. These factors are responsible for stimulating the growth of the application segment.
Declining Levels of Air Quality in Developing Countries to Fuel the Growth of Asia Pacific Market
Developing countries such as India and China in the Asia Pacific are experiencing rapid urbanization resulting in infrastructural development and booming construction sector. This has resulted in declining levels of air quality, especially in cities. The presence of a high concentration of pollutants such as air leads and PM2.5 has resulted in demand for air purifiers, which is augmenting the global Household Air Purifiers market in the Asia Pacific region. Increasing commercial spaces such as offices, educational institutes, hospitals, recreational facilities, and the food industry are expected to positively influence the growth of the market.
Top Companies are Promoting Innovation to Attract Customers
Panasonic, Sharp, Daikin, Philips, Coway, Midea, Electrolux, Smartmi, Amway, IQAir, Honeywell, Whirlpool, Samsung, Yadu, Blueair, Austin, Broad, and Boneco are some of the key companies operating in the global Household Air Purifiers market. The top players of the market are inclined to promote innovation and are involved in competitive product pricing.
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