Pune, 7, Dec, 2022: MMR, has published a report on Residential Air Purifiers Market. As per the Residential Air Purifiers Market report, the total market for Residential Air Purifiers was 3.92 Bn. in 2021 and is expected to reach 6.39 Bn. by 2029 with a CAGR of 6.3 percent.
Residential Air Purifiers Market Scope and Research Methodology
In-depth details about the industry’s drivers, restraints, opportunities, challenges, trends, and projections are provided in the Residential Air Purifiers market analysis. Porter’s five forces analysis demonstrates how networks of suppliers and customers may be created to have an impact on profitable decisions. The current Residential Air Purifiers Market’s potential may be ascertained through a thorough study, market size, and segmentation. The analysis, which also includes details on elements that can favors or harm the company, gives investors a thorough understanding of the future of the industry.
The Residential Air Purifiers market has been studied in the past and present, and future market sizes have also been forecast. In the analysis of significant rivals, market leaders, followers, and entrants are all included. The study includes strategic profiles of the leading market players, a thorough examination of their key capabilities, and information on the company-specific plans they have in place for the launch of new products, growth, partnerships, joint ventures, and acquisitions. Investors can benefit from the research because of its clear depiction of comparative analysis of key companies by product, pricing, financial status, product portfolio, growth strategies, and geographical presence in the domestic and local markets.
For a segment-wise analysis of the Residential Air Purifiers Market, it is divided by Technology Insights, Application Insights, Type, and Regions for understanding the factors affecting the market growth positively and negatively. The bottom-up approach was employed to validate the market size and its estimation by different segments. Data was collected employing both primary and secondary data collection methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs, and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organizations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases.
SWOT analysis was conducted to provide the strengths and weaknesses of the Residential Air Purifiers Market while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the Residential Air Purifiers Market.
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Residential Air Purifiers Market Overview
Air purifiers can help to improve indoor air quality by removing pollutants from the air. Indoor air is a complex mixture of substances, including pollutants from both indoor and outdoor sources; health impacts of indoor air quality depend on the presence and concentration of specific pollutants.
Residential air purifiers and cleaners are devices that eliminate airborne impurities including dust, smoke, pollen, and pet dander to improve the quality of the air indoors. Stand-alone and in-duct residential air purifiers are the two main types available. In order to fully meet the increasing demand brought on by increased awareness of air quality and ventilation, some companies are increasing the market for air and ventilation goods by developing and introducing new, distinctive products as well as developing solutions on a global scale. Given a substantial rise in demand throughout all operational zones, production of the residential air purifiers has significantly increased. Similar to Japan, the United States’ market climate for residential air purifiers is mostly driven by replacement demand. As Europe is a region that places a high value on the environment, major market players are taking the initiative to improve a number of residential air purifier models in order to stay one step ahead of rivals.
Residential Air Purifiers Market Dynamics
Particularly in the United States, market growth is influenced by rising industrialization, strict environmental protection laws, and awareness of pollution control. High-Efficiency Particulate Air (HEPA) technology is forecast to dominate the US market throughout the analysis since it has been proven to be the most efficient technology for capturing hazardous airborne particles. The United States is expected to be the most polluted country on earth as a result of the numerous industries and increased traffic in the region, which also helped to fuel the growth of the residential air purifiers market.
The filters used in residential air purifiers are not indestructible. The filter must be replaced every six months, depending on usage. Additionally, most standalone or portable air purifiers are unable to collect three-dimensional data and can only monitor the air quality in a narrow area. Many air quality monitoring systems employ passive monitoring sensor nodes rather than active monitoring sensor nodes, necessitating routine human data updates. Data can be automatically gathered, sent, and stored by active monitoring sensor nodes across wireless or other networks. Technical limitations with specific air purifiers may result from a lack of active monitoring sensor nodes, which could have a negative impact on adoption and possibly slow the growth of the residential air purifiers market.
Residential Air Purifiers Market Regional Insights
The Asia Pacific area accounted for over 41.1% of the global market in 2021 because of its growing population with higher disposable income, rapid urbanization and industrialization, and residential air purifier’s market domination. Rising smog and air pollution incidences, particularly in China and India, are also predicted to increase the use of air purifiers and promote regional market growth. It is expected that rising public awareness of illnesses and health risks caused by exposure to hazardous particles at work or home will positively impact the country’s market growth.
The North American market is expected to grow at a CAGR of 7.2%. The U.S. EPA’s creation of national ambient air quality standards, the U.S. Clean Air Act, and Environment Canada’s extensive emission reduction program are a few examples of air quality laws where manufacturers of air purifiers expect new business opportunities.
Residential Air Purifiers Market Segmentation
By Product:
- High Efficiency Particulate Air (HEPA)
- Activated Carbon
- Ionic Filters
- Others
By Application Insights:
- Residental
- Industrial
- Commercial
- Retail Shops
- Offices
- Healthcare Facilities
- Hospitality
- School
- Educational Institutions
- Laboratories
- Transport
- Others
By Type:
- Stand-alone
- Duct
Residential Air Purifiers Market Key Manufacturers:
- Daikin Industries Ltd.
- Sharp Corporation
- Honeywell International Inc.
- Samsung Electronics Co. Ltd.
- LG Electronics Inc.
- Koninklijke Philips N.V.
- Dyson
- Unilever Group
- Panasonic Corporation
- Whirlpool Corporation
- AllerAir Industries Inc.
- IQAir
- WINIX Co. Ltd.
- Xiaomi Corporation
- Camfil AB
- Alen Corporation
- Airgle Corporation
- Hunter Pure Air
- Kent RO Systems Ltd.
- HSIL Limited
Key questions answered in the Residential Air Purifiers Market are:
- What is Residential Air Purifiers?
- What is the growth rate of Residential Air Purifiers Market for the forecast years?
- What is the nature of competition in Residential Air Purifiers industry in developed and developing economies?
- Who are the key players in the Residential Air Purifiers Market?
- Who are the market leaders in Residential Air Purifiers in Europe?
- Who are the market leaders in Residential Air Purifiers in USA and Canada?
- Who are the market leaders in Residential Air Purifiers in India, China, Japan and South Korea?
- What are the factors affecting growth in the Residential Air Purifiers Market?
- Who held the largest market share in Residential Air Purifiers Market?
- What are the factors for the growth of Asia-Pacific region in Residential Air Purifiers Market?
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Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Technology Insights, Application Insights, Type and Region.
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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