Product ID: SQMIG30K2032
Report ID:
SQMIG30K2032 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
63 |
Figures:
75
In 2022, Asia Pacific emerged as the dominant region in the residential air purifiers market, capturing the largest revenue share of approximately 42.0%. Several factors contribute to the region's dominance, including robust urbanization, rapid industrialization, a growing population, and increasing disposable income levels. Moreover, major countries in the region, such as India and China, are grappling with escalating concerns over smog and deteriorating air pollution. The growing awareness among the population and government interventions aimed at mitigating the impacts of air pollution have led to an increased adoption of air purifiers, driving the market growth in Asia Pacific. According to the Clean Air Coalition report of 2019, over 35% of global premature deaths resulting from air pollution occurred in East Asia, followed by South Asia. Furthermore, South Korea ranks highest among OECD countries in terms of average annual PM 2.5 exposures, with coal plants contributing to over 40% of the country's energy mix.
In North America, the market for residential air purifiers is expected to witness a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period. The high penetration and increasing adoption of residential air purifiers in North American households can be attributed to air quality policies implemented by regulatory bodies such as the U.S. Environmental Protection Agency (EPA) and the U.S. Clean Air Act. Additionally, comprehensive strategies for emission reduction by Environment Canada have created opportunities for residential air purifier manufacturers. The growing installation of comprehensive ambient air quality monitoring systems, along with the development and implementation of regulatory actions and air quality management programs, aims to create awareness among the population and is expected to drive the demand for air purifiers in Mexico in the coming years.
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Product ID: SQMIG30K2032