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The Global Commercial Fan And Air Purification Equipment Market Will Grow At 9% CAGR To 2023

Commercial Fan And Air Purification Equipment Global Market Report 2020-30: Covid 19 Impact And Recovery

Commercial Fan And Air Purification Equipment Global Market Report 2020-30: Covid 19 Impact And Recovery

The Business Research Company’s Global Commercial Fan And Air Purification Equipment Market Report 2020-30: Covid 19 Impact And Recovery

LONDON, GREATER LONDON, UK, September 11, 2020 /EINPresswire.com/ -- The global commercial fan and air purification equipment market is expected to decline from $71.6 billion in 2019 to $68.2 billion in 2020 at a compound annual growth rate (CAGR) of -4.8%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The commercial fan and air purification equipment market is then expected to recover and grow at a CAGR of 9% from 2021 and reach $85.5 billion in 2023.

According to commercial fan equipment market trends, companies in the commercial fan and air purification equipment market are increasingly integrating internet of things (IOT) technology due to growing demand for real time insights. The Internet of things is the inter-networking of physical devices embedded with software, sensors and network connectivity which enable these objects to collect and exchange data. Using IOT, commercial fan and air purification equipment systems are closely monitored and controlled from remote locations. Real time monitoring, predictive maintenance, remote diagnostics, system adaptation, continuous comfort, increased efficiency, and focus on user experience are some of the features of IoT enabled commercial fan and air purification equipment.

The commercial fan and air purification equipment market consists of sales of commercial fan and air purification equipment by entities (organizations, sole traders and partnerships) that produce commercial and industrial fan and air purification equipment such as industrial dust and fume collection equipment, electrostatic precipitation equipment, warm air furnace filters, air washers, and other dust collection equipment, attic fans and industrial and commercial fans and blowers, such as commercial exhaust fans and commercial ventilating fans.

The Asia Pacific was the largest region in the global air purification and commercial fan equipment market, accounting for 47% of the total share in 2019. Western Europe was the second largest region accounting for 28% of the global commercial air purifiers market. Africa was the smallest region in the global commercial fan and air purification equipment market.

The global commercial fan and air purification equipment market is segmented by type into air purification equipment, attic and exhaust fans, and others - commercial fan and air purification equipment. The market is also segmented by technology type into high efficiency particulate absorption/absorber (HEPA, activated carbon, electrostatic precipitator, ultra violet (UV) light air purifier, ionic air purifier, and others. It is segmented by capacity into small, medium, and large.

The major players in the global commercial fan and air purification equipment market are Sharp Corporation, Panasonic Corporation, Daikin Industries, Honeywell International, and Philips Electronics N V.

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Air Purifiers Market Global Report 2020-30: COVID-19 Growth And Change (https://www.thebusinessresearchcompany.com/report/air-purifiers-market-global-report-2020-30-covid-19-growth-and-change)

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The Business Research Company
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