Dehumidifiers Market Size to Surge at USD 5.57 Billion by 2031 With CAGR of 7.5%
Breathing Easier: Navigating the Dehumidifiers Market for Healthier Homes
TEXES, AUSTIN, UNITED STATES, June 12, 2024 /EINPresswire.com/ -- The Dehumidifier Market Size was valued at USD 3.12 billion in 2023. SNS Insider analysts expect the market to reach USD 5.57 billion by 2031.Download Sample Copy of Report: https://www.snsinsider.com/sample-request/2628
Top Key Players:
Airwatergreen AB, De’Longhi Appliances S.r.l., Frigidaire, General Filters, Inc., Resideo Technologies, Inc., GE Appliances, LG Electronics, SEIBU GIKEN DST, Munters, Therma-Stor, Kerone Engineering Solutions LTD., Drycool System, Sunpentown Inc., Whirlpool, ADVANCE INTERNATIONAL, Origin Corporate Services Pvt. Ltd., Honeywell International Inc., AB Electrolux.
Consumers, increasingly aware of the health risks associated with high humidity levels, are turning to dehumidifiers at a rate of 68% to improve indoor air quality.
This demand is further supported by the construction boom, particularly in residential and commercial sectors accounting for 32% of the market. As new buildings prioritize energy efficiency, proper humidity control becomes crucial to prevent structural damage and ensure comfortable living environments. Additionally, climate change is playing a role. Rising temperatures and extreme weather events are leading to increased humidity levels in many regions, prompting a projected 27% growth in dehumidifier adoption in areas prone to dampness.
Studies suggest that a significant portion of consumers, particularly in developing regions like India, lack knowledge about the benefits of dehumidification.
This translates to missed opportunities for improved indoor air quality, mold prevention, and overall comfort. Additionally, price sensitivity can be a roadblock. Dehumidifiers are often perceived as expensive appliances, especially with upfront costs. This discourages purchase, particularly in regions with limited disposable income. Even in developed markets, budget-conscious consumers might prioritize other essential appliances.
A 68% of consumers prioritize improved indoor air quality, presenting a significant chance for dehumidifiers to be positioned as air purifiers combating mold, mildew, and allergens.
The industrial sector, currently dominating the market at over 50%, offers further avenues for growth. As construction activity booms by an estimated 3.6% globally, the demand for dehumidifiers in drying out new buildings and controlling moisture during construction can rise. Furthermore, the rise of smart home technology opens exciting possibilities. By integrating with smart home systems, dehumidifiers can be remotely controlled via apps a feature desired by 72% of potential buyers and programmed for optimal energy use, appealing to the environmentally conscious consumer.
Fixed or whole-house dehumidifiers hold the larger market share, accounting for roughly 57% in 2023.
Their continuous operation and powerful drying capabilities make them ideal for extensive moisture control in residential, commercial, and industrial settings. These applications can include basements, warehouses, laundry rooms, and even entire homes in humid climates. Portable dehumidifiers, on the other hand, capture the remaining market share, offering a more flexible solution for tackling moisture problems in specific rooms or areas. Their compact size and ease of use make them popular for tackling mold growth in bathrooms, preventing condensation on windows, or creating a more comfortable environment in bedrooms.
The dehumidifier market is witnessing a rise in emerging regions like Asia Pacific, Latin America, and the Middle East.
Urbanization and rising disposable incomes in these regions are leading to a preference for modern living, which often includes air quality control solutions like dehumidifiers. Secondly, increasing awareness about the health problems associated with high humidity, such as mold growth and respiratory issues, is prompting a shift towards proactive moisture management.
Impact of External Events:
Hot and humid summers, especially in regions unaccustomed to such conditions, can trigger a rise in dehumidifier sales by up to 30% compared to average seasons. Conversely, mild or cooler summers can lead to a slump of 15% or more. This trend is evident in countries with fluctuating weather patterns like the United States, were dehumidifier sales spike during heatwaves. Another external factor is rising energy costs. As consumers become more cost-conscious, there's a growing preference for energy-efficient dehumidifiers. This has led to a significant increase around 20% in demand for models with features like automatic shut-off and moisture sensors.
Competitive Landscape:
Incumbent players like LG and Whirlpool hold a significant portion of the market, capitalizing on brand recognition and established distribution networks. They face strong competition from regional players, particularly in Asia-Pacific, who offer feature-rich dehumidifiers at competitive prices.
Online marketplaces have supported the entry of new players, creating a price-sensitive segment. This segment provides to budget-conscious consumers seeking basic functionality. Moreover, around 40% of the market focuses on dehumidifiers with capacities below 30 pints per day, indicating a high demand for compact and portable solutions for everyday use in homes and offices.
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Key Takeaways:
Homes with rising humidity levels see a rise in demand for these appliances, with nearly 70% of purchases aiming to control moisture, prevent mold, and improve allergy and respiratory health.
Interestingly, desiccant dehumidifiers, despite being slightly costlier, take the lead at 58% market share due to their effectiveness in colder climates. However, the segment of electronic/heat pump dehumidifiers is projected for significant growth, likely exceeding 10% annually. This trend suggests a consumer preference for energy-efficient options.
Moreover, government regulations pushing for energy-conscious appliances are expected to further accelerate this shift. Notably, the market isn't limited to just homes – the industrial sector holds a dominant share at 45.5%, highlighting the crucial role dehumidifiers play in moisture control across various industries.
Akash Anand
SNS Insider | Strategy and Stats
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