Global Air Purifier Market to be Worth USD 6.18 Bn by 2023
According to a new Research on Global Markets report, the global air purifier market is expected to be worth USD 6.18 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 5.2% during the 2018-2023 period. Increasing concerns regarding poor indoor air quality (IAQ) and the growing incidence of ailments resulting from air pollution are responsible for driving the demand for air purification systems.
The global air purifier market is segmented based on filter types, and within this segment, the market is further segregated into high efficiency particulate air (HEPA) filters, ionic filters, activated carbon, and electrostatic precipitators. The HEPA filters segment currently dominates the residential air purifiers market, and is expected to sustain its growth during the forecasted period. Electrostatic precipitator and ionic filters account for 37% of the global air purifier market, and are poised for moderate growth during the forecast period, according to Research on Global Markets.
Research on Global Markets tracks the performance of the global air purifier market across the key geographies of North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. Asia-Pacific accounted for a major share of the market for residential air purifiers in 2018, and the region is expected to maintain its growth during the forecast period. China and India are leading the markets owing to the increased adoption of residential air purifiers. The Middle East and Africa is slated to be one of the fast-growing regions over the estimated period with continued investments in infrastructure and other construction activities.
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Key highlights of this report:
- Global market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), geography-wise market revenue (USD Bn), and market attractiveness analysis
- Qualitative analysis of the drivers and challenges affecting the global market
- Major trends in the global air purifier market
- Analysis of the competitive landscape and profiles of the major players operating in the market
- Market segmentation based on filter type (high efficiency particulate air [HEPA], activated carbon, electrostatic precipitator, and ionic filters) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
- Market segmentation based on regions (North America, Europe, Asia-Pacific, and The Middle East and Africa)
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for air purification systems across the world, to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.