The global Indoor Air Purification market is forecast to reach USD 37.94 Billion by 2027, according to a new report by Reports and Data. The sector expects to be powered by an increased prevalence of infectious pathogens, as well as increasing pollution levels in urban areas. Many of the variables projected to drive change are also improved working standards, increased disposable earnings, and enhanced health literacy. The rising need for air pollution control equipment to be introduced anticipates rising demand for air purifiers, especially in emerging regions. Growing understanding of health expects to make a significant contribution to growth, particularly among urban youth.
Strict environmental conservation regulations, increasing globalization, and awareness of emissions management expect to have a positive effect on U.S. market development over the forecast period. The U.S. industry is predicted to lead the commodity segment of High-Efficiency Particulate Matter (HEPA) over the projected period, as it is the most effective method for collecting harmful airborne particles.
Asia-Pacific anticipated it would become the fastest-growing national segment over the forecast period. Owing to many factors, including rapid urbanization and increasing industrialization, the region expects to dominate the market together with a growing disposable income population.
The Covid-19 Impact
The coronavirus outbreak has created a major fright and concern pertaining to the contagious diseases. As a preventive preparation, more and more common individuals and commercial sectors are incorporating technologies that can potentially mitigate the spread of the virus outbreak or execute entirely. Many consumer electronics & appliances corporations are heavily investing in their R&D and looking into ways to find electronics products that can kill the harmful bacteria and viruses in the airflow designed for both the household and commercial purposes. Many companies have already come up with product line-ups that are claimed to kill or remove the COVID-19.
However, due to the lockdown situation, the manufacturing industries are being drastically affected, which is expected to meet its peak during the Q3 of this fiscal year upon resuming the production facility and distribution chains.
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Key participants include Abatement Technologies, Inc., Aprilaire, 3M Purification Inc., AllerAir Industries Inc., Honeywell International Inc., Blueair, Inc., Clarcor, Inc., Sharp Corporation, MANN+HUMMEL GmbH, and Daikin Industries, Ltd., among others.
Further key findings from the report suggest
- Fume and smoke collectors held a significant share in the market owing to the high application of the product in removing wet and dry vapors, dust, gases, and smoke from the air inside the room.
- High-Efficiency Particulate Arrestance (HEPA) technology helps in removing at least 99.9% of pollen, dust, bacteria, mold, and other airborne particles that have a size of 0.3 microns. This ensures that the air blowing in the room is clean and safe. It is essential for patients in hospitals who cannot come in contact with contagious or outside particles.
- The residential sector is projected to have the fastest growing CAGR of 10.6% during the forecast period. Due to the rising population and urbanization, increasing pollution, especially in countries like China, India is the major factor for the growth in this region.
- Asia-Pacific region dominated on the global level with a CAGR of 11.5% due to the increasing population and urbanization. In addition to this, the residential sector in the region held 22.4% of the total global share in 2019 because of the extensive use of smart purifiers in this sector.
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For the purpose of this report, Reports and Data have segmented into the global Indoor Air Purification market on the basis of the product, technology, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Fume & smoke collectors
- Fire & emergency exhaust
- Dust collectors & vacuums
- Mist eliminators
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Electrostatic precipitators
- Ionic filters
- High-Efficiency Particulate Arrestance (HEPA)
- Activated carbon
Application Outlook (Revenue, USD Billion; 2017-2027)
The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter's Five Forces analysis. The report further explores the key business players along with their in-depth profiling, product portfolio, and strategic business decisions. The report has been formulated through extensive primary and secondary research and further validated by analysts, industry experts, and market professionals. The report also sheds light on the recent mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches, among others.
Regional analysis covers assessment of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue and gross margins, and presence of key players in the region. The report also offers insights about revenue growth, market size, market share, technological advancements, and presence of key players in each region.
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Regional Bifurcation of the Indoor Air Purification Market Includes:
* North America (U.S., Canada, Mexico)
* Europe (U.K., Italy, Germany, France, Rest of Europe)
* Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
* Latin America (Chile, Brazil, Argentina, Rest of Latin America)
* Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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