The Residential Air Purifiers Market Share was valued at USD 4.59 billion in 2022. It is projected to reach USD 7.27 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2023 to 2030.
Residential air purifiers have witnessed significant growth in recent years, driven by increasing awareness about indoor air quality and the rising prevalence of respiratory diseases. As people become more conscious of the health hazards posed by pollutants and allergens present in the air, the demand for efficient air purification solutions has surged.
The market's steady growth can be attributed to various factors, including technological advancements in air purification systems, the growing adoption of smart home devices, and the increasing disposable income of consumers. Additionally, the COVID-19 pandemic has further accelerated the demand for residential air purifiers, as people strive to create a safe and healthy living environment.
Geographically, North America holds a substantial share in the residential air purifiers market, owing to the region's high pollution levels and stringent regulations regarding indoor air quality. However, the Asia-Pacific region is expected to witness the fastest growth during the forecast period, driven by rapid urbanization, increasing industrialization, and a rising middle-class population.
Key players in the residential air purifiers market are focusing on product innovation and strategic collaborations to gain a competitive edge. They are investing in research and development activities to introduce advanced filtration technologies and energy-efficient solutions. Moreover, companies are expanding their distribution networks and strengthening their online presence to cater to a wider customer base.
In conclusion, the residential air purifiers market is poised for substantial growth in the coming years. With the increasing emphasis on health and well-being, coupled with technological advancements, the demand for efficient air purification solutions is expected to soar. As key players continue to innovate and expand their offerings, the market is likely to witness a steady rise, benefiting both consumers and the industry as a whole.
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KEY MARKET SEGMENTATION
ON THE BASIS OF TYPE
- Standalone/Portable
- In-Duct
ON THE BASIS OF TECHNOLOGY
- HEPA
- Activated Carbon
- Ionic Filters
- Others
Key Players
The major key players are DAIKIN INDUSTRIES, Ltd., Sharp Home (Sharp Corporation), Honeywell International Inc., Panasonic Corporation, LG Electronics, Koninklijke Philips, N.V.,Dyson, SAMSUNG, Whirlpool, Blueair (Unilever).
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Table of Contents
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- Value Chain Analysis
- Porter’s 5 forces model
- PEST Analysis
- Residential Air Purifiers Market Segmentation, by Type
- Residential Air Purifiers Market Segmentation, by Technology
- Regional Analysis
- Company Profile
- Competitive Landscape
- Conclusion
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