Global Residential Air Purifiers Market

Residential Air Purifier Market Size, Share, Growth Analysis, By Type(Standalone/Portable, and In-Duct), By Technology(HEPA, Activated Carbon, Ionic Filters, and Others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG30K2032 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 63 | Figures: 75

Residential Air Purifier Market Insights

Global Residential Air Purifiers Market size was valued at USD 4 Billion in 2021 and is poised to grow from USD 4.25 Billion in 2022 to USD 6.93 Billion by 2030, at a CAGR of 6.3% during the forecast period (2023-2030).

The global Residential Air Purifiers market is a rapidly growing industry that focuses on providing clean and healthy indoor air for households. Air purifiers are devices designed to remove pollutants, allergens, and contaminants from the air, improving indoor air quality and promoting a healthier living environment. The purpose of the residential air purifiers market is to address the increasing concerns about indoor air pollution and its impact on health. With factors such as urbanization, industrialization, and a rise in pollution levels, the need for effective air purification solutions has become crucial. Residential air purifiers aim to create a safe and comfortable living space by reducing allergens, smoke, dust particles, pet dander, and other airborne pollutants. The high cost of advanced air purifier technologies and the maintenance and replacement costs of filters can limit the adoption of residential air purifiers, especially in price-sensitive markets. Moreover, the perception of some consumers that air purifiers may not be necessary in areas with relatively clean outdoor air quality can also hinder market growth.

The market also faces challenges such as the lack of standardized regulations and certifications for air purifiers, which can create confusion for consumers while making purchase decisions. Additionally, market saturation and intense competition among players can pose challenges for new entrants. The residential air purifiers market presents significant opportunities for growth. Technological advancements, such as the integration of smart features and IoT capabilities in air purifiers, offer new avenues for market expansion. The increasing emphasis on energy-efficient and eco-friendly air purifiers aligns with sustainability trends and presents opportunities for market players to cater to environmentally conscious consumers. The global residential air purifiers market serves the purpose of improving indoor air quality and creating healthier living spaces. It is driven by growing awareness of the importance of clean indoor air, but faces challenges such as high costs and consumer perception. However, opportunities lie in technological advancements and the growing demand for energy-efficient and eco-friendly air purifiers. By addressing challenges and leveraging opportunities, the market can continue to grow and meet the increasing demand for clean indoor air.

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Residential Air Purifiers Market size was valued at USD 4 Billion in 2021 and is poised to grow from USD 4.25 Billion in 2022 to USD 6.93 Billion by 2030, at a CAGR of 6.3% during the forecast period (2023-2030).

The residential air purifiers market is highly competitive, with numerous players vying for market share and striving to maintain their positions. The competitive landscape is shaped by factors such as product innovation, technological advancements, distribution networks, and brand reputation. Prominent companies operating in the residential air purifiers market include Honeywell International Inc., Sharp Corporation, Dyson Ltd., Blueair AB, Coway Co., Ltd., LG Electronics Inc., Whirlpool Corporation, IQAir AG, Panasonic Corporation, and Philips International B.V., among others. These companies have established themselves as key players in the industry and have a strong presence in various regions globally. To gain a competitive edge, market players focus on product differentiation and innovation. They continuously invest in research and development to introduce advanced technologies and features in their air purifier models. Companies strive to offer improved filtration systems, smart controls, air quality sensors, and energy-efficient solutions to meet the evolving needs of consumers. 'Honeywell International Inc. (US)', 'Sharp Corporation (Japan)', 'Dyson Ltd. (UK)', 'Blueair AB (Sweden)', 'Coway Co., Ltd. (South Korea)', 'LG Electronics Inc. (South Korea)', 'Whirlpool Corporation (US)', 'IQAir AG (Switzerland)', 'Panasonic Corporation (Japan)', 'Philips International B.V. (Netherlands)', 'Xiaomi Corporation (China)', 'Daikin Industries, Ltd. (Japan)', 'Molekule Inc. (US)', 'Rabbit Air (US)', 'Cowaymega (South Korea)', 'Alen Corporation (US)', 'Winix Inc. (South Korea)', 'Airfree Produtos Electrónicos SA (Portugal)', 'Levoit (US)', 'Austin Air Systems Limited (US)'

In 2022, there was a growing awareness among consumers about the importance of maintaining clean indoor air. The understanding of the health risks associated with indoor air pollution, allergies, and respiratory diseases propelled the demand for residential air purifiers. Consumers became more proactive in seeking solutions to improve their indoor air quality, leading to increased adoption of air purifiers.

Increasing Focus on Personalized Medicine: Integration of Smart Features: In 2022, the integration of smart features and connectivity in residential air purifiers gained traction. Manufacturers incorporated IoT capabilities, Wi-Fi connectivity, and smartphone applications to offer advanced control, real-time monitoring, and smart scheduling options. The trend towards smart homes and the convenience of controlling air purifiers remotely contributed to the adoption of smart air purifiers.

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 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.

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Global Residential Air Purifiers Market

Product ID: SQMIG30K2032

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