Global Air Purification Market Set to Reach US$ 142.93 Billion By 2032, Driven by Increasing Health Concerns, PMR
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Air Purification Market is Growing at a CAGR of 17.7% in the forecast period 2023-2032
NEW YORK, NEW YORK, UNITED STATES, March 30, 2023 /EINPresswire.com/ -- The Global Air Purification Market is likely to garner a market value of US$ 28.01 Billion in 2022 and is expected to accumulate a market value of US$ 142.93 Billion by registering a CAGR of 17.7% in the forecast period 2023-2032. Air purification is the process of removing pollutants, allergens, and other harmful particles from the air to improve indoor air quality. This is typically achieved through the use of air purifiers or air filters, which are designed to trap and remove particles such as dust, pollen, mold spores, pet dander, and other airborne contaminants.
Air purifiers work by using various technologies, such as HEPA filters, activated carbon filters, UV-C lights, and ionizers, to trap and remove pollutants from the air. HEPA filters are especially effective in removing particles as small as 0.3 microns, which includes most common allergens and some viruses. Air purification is important because poor indoor air quality can have negative effects on health, causing respiratory problems, allergies, and other health issues. By removing harmful particles from the air, air purifiers can help create a healthier indoor environment and reduce the risk of illness or other health problems.
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The air purification market is a rapidly growing industry driven by increasing awareness of indoor air quality and health concerns related to air pollution. Air purification systems are designed to remove harmful pollutants, allergens, and particles from the air, providing cleaner and healthier air for homes, offices, and other indoor spaces.
Market Dynamics:
Increasing Awareness: The rising awareness about the harmful effects of air pollution on health is driving the demand for air purifiers. This has led to an increased adoption of air purification technologies in residential, commercial, and industrial settings.
Government Regulations: Government regulations aimed at reducing air pollution are also driving the growth of the air purification market. In many countries, there are regulations in place that require the installation of air purifiers in certain settings, such as hospitals, schools, and offices.
Technological Advancements: Technological advancements in air purification are driving innovation in the market, with companies introducing new and advanced air purifiers that use a combination of technologies to remove pollutants from the air.
Growing Urbanization: The rapid pace of urbanization has led to an increase in air pollution in many cities, which is driving the demand for air purifiers. This trend is expected to continue in the coming years as more people move to urban areas.
Health Concerns: The increasing concern about the impact of air pollution on health is driving the demand for air purifiers. People are becoming more aware of the health risks associated with poor air quality and are willing to invest in air purification technologies to protect themselves and their families.
COVID-19 Pandemic: The COVID-19 pandemic has also led to increased demand for air purifiers, as people are more concerned about indoor air quality and the transmission of the virus through the air. This has led to increased adoption of air purification technologies in various settings, including homes, offices, and public spaces.
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Opportunities
Based on dust-holding ability, consistent airflow supply, and filtering effectiveness, air purifier manufacturers compete. The end user is leaning towards environmentally friendly options, such as the use of washable and reusable air purifiers. These filters restrict microbiological growth, which is a unique property that helps them minimise dangerous emissions while delivering great indoor air quality.
According to the International Green Building Council, Australia and Ireland are the two nations putting the most emphasis on green buildings, each with a focus rate of about 46%. The rising nations are placing a lot of emphasis on offering products for air purification that are energy-efficient. As a result, the market for air filters is expanding due to the rising demand for green buildings and greater installation of reusable filters.
Market Segmentation:
The air purification market can be segmented based on technology, application, and geography. The main technologies used in air purification systems include high-efficiency particulate air (HEPA) filters, activated carbon filters, ultraviolet (UV) germicidal irradiation, and ionizers. The main applications of air purification systems include residential, commercial, and industrial sectors.
Air Purification by Product Type
• Activated Carbon Filtration
• High-Efficiency Particulate Air (HEPA)
• Ionizer Purifiers
• Ultraviolet Germicidal Irradiation (UVGI)
• Others
Air Purification by Application
• Commercial
• Residential
• Industrial
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Regional Insights:
The Asia-Pacific region is expected to be the fastest-growing market for air purification systems, driven by increasing air pollution levels, rapid industrialization, and urbanization in countries like China and India. North America and Europe are also expected to see significant growth in the air purification market due to growing awareness of indoor air quality and health concerns related to air pollution.
Major players operating in the air purification market include Whirlpool Corporation, Camfil, Daikin Industries Ltd., Honeywell International Inc., Koninklije Philips N.V, LG Electronics, Panasonic Corporation, Unilever PLC, ActivePure Technologies LLC, IQAir, among others. These companies are focusing on product innovation, mergers and acquisitions, and partnerships and collaborations to expand their market share and gain a competitive edge.
Air Purification Market Recent Developments:
• In January 2023, Dyson launched a new air purifier called the Pure Cool V12, which is equipped with a HEPA filter and uses the company's Air Multiplier technology to circulate clean air.
• In December 2022, Honeywell announced the launch of a new range of air purifiers with a washable pre-filter and HEPA filters, designed to remove allergens, pollutants, and VOCs from the air.
• In November 2022, Xiaomi launched its latest air purifier, the Mi Air Purifier 3H, which uses a high-precision laser particle sensor to detect even the tiniest of pollutants and can purify the air in a room in just a few minutes.
• In September 2022, LG Electronics announced the launch of a new air purifier, the LG PuriCare, which is equipped with a Dual Inverter Compressor that ensures maximum efficiency and energy savings while purifying the air.
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