Air Purification Market Set to Witness Explosive Growth by 2030

Accodring to the Market Statsville Group, theglobal air purification market size is expected to grow from USD 22.6 billion in 2021 to USD 42.7 billion by 2030, at a CAGR of 8.3% from 2022 to 2030. Air purification methods are used to improve the indoor air quality. Several factors such as changing lifestyle preferences, rising health concerns, deteriorating indoor air quality, and increasing awareness among consumers about the benefits associated with air purifiers are likely to fuel the market growth over the coming years. However, the high cost of adopting and maintaining air purifiers is expected to hamper the demand for air purification.

The COVID-19 pandemic has increased the demand for air purifiers, with the growing awareness of COVID-19 associated respiratory ailments and the rising need to curb cross-contamination. The market is being driven by factors such as an increase in airborne diseases and a rise in consumer health consciousness. Despite technological advancements, air purifiers are still seen as a luxury item in both underdeveloped and emerging economies, particularly in the commercial and residential segments, due to high installation and maintenance costs. As a result, the air purification market is expected to slow.

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Global Air Purification Market Dynamics

Several emerging and developed nations have observed a steep increase in the rate of industrialization and urbanization in the global economy that act as a prominent demand for the market growth over the forecast period.

Implementing several favorable government policies to combat air pollution by controlling emission levels from various businesses is driving up demand for air purifiers in companies. And as there is an increase in the demand of air purifiers, there is growth in the air purification market.

Scope of the Global Air Purification Market

The study categorizes the air purification market based on component, waste type, method, and application at the regional and global levels.

By Product Outlook

• Dust Collectors
• Fume & Smoke Collectors
• Vehicle Exhaust
• Mist Eliminators
• Fire/Emergency Exhaust
• Others

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By Technology Outlook

• HEPA
• Electrostatic Precipitator
• Activated Carbon
• Ionic Filters
• Others

By End-Users Outlook

• Automotive
• Construction
• Healthcare & medical
• Energy & utilities
• Manufacturing
• Others

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By Region Outlook

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global air purification market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR in the global air purification market during the forecast period. The region includes the countries such as China, India, Japan, South Korea, Australia, Southeast Asia, and Rest of Asia-Pacific. The growth of the region is primarily due to strong economic growth in the domestic emerging countries such as China, Indonesia, Malaysia, and India.

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Key Market Players in the Global Air Purification Market

Major players in the market are:

• Daikin Industries Ltd.
• Sharp Corporation
• IQAir
• Dyson Ltd
• LG Electronics Inc.
• Resideo Technologies Inc.
• Unilever PLC
• Whirlpool Corporation
• AllerAir Industries Inc.
• Panasonic Corporation
• Koninklijke Philips NV
• Samsung Electronics Co. Ltd
• Winix Inc.
• Xiaomi Corp

Article source: https://article-realm.com/article/Finance/24275-Air-Purification-Market-Set-to-Witness-Explosive-Growth-by-2030.html