In a recent published report, Kenneth Research has updated the market report for Air Purifier Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Air Purifier Market products.
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Kenneth Research has recently added a report titled Air Purifier Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The report covers the forecast and analysis of the Air Purifier Market on a global and regional level. The study provides historical data from 2015 to 2019 along with a forecast from 2019-2026 based on revenue (USD Million). In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Air Purifier Market over the period 2019-2026.According to the statistics by the World Integrated Trade Solution (WITS), export of consumer goods around the world was recorded at USD 6.52 billion in the year 2018.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Air pollution has become one of the key concerns across the world, which results in fatal health problems such as lung cancer, heart problems, strokes, and chronic and acute respiratory diseases that can lead to death. Factors responsible for the deterioration of air quality includes the rapid increase in urbanization, industrialization, and pollution through vehicular emissions. In addition, the significant presence of VOCs, smoke, and pollens severely affects the quality of the indoor air. This is increasing the demand for air purifiers for both residential and commercial applications. Thus, the growing air pollution levels is expected to drive the growth of the air purifier market during the forecast period.
Factors such as increasing airborne diseases, and growing health consciousness among consumers are driving the market. Air pollution from industries is constantly emerging as a big threat to health of individuals as well as environment. In the recent years, air purifier market has witnessed a hike in demand fueled by the degrading air quality and increasing concerns towards health issues. Despite the various technological developments, air purifiers have been perceived as a luxury item in both underdeveloped and emerging economies particularly in the commercial and residential segments, owing to the high installation and maintenance cost. This, in turn, is expected to hinder the growth of the market studied.
Moreover, the global air purifier market is segmented based on filter type which includes HEPA & Activated Carbon, Ion & Ozone, Electrostatic Precipitators, HEPA & Activated Carbon + Ion & Ozone, HEPA, Activated Carbon and Others. HEPA & Activated Carbon category holds the largest share in the global air purifier market. In terms of regional markets, Asia-Pacific is expected to continue its market dominance over the next five years.
High Efficiency Particulate Air
By Regional Ananlysis
*Rest of Europe
*Rest of Asia-Pacific
*Rest of LATAM
Middle East & Africa
*Rest of MEA
Major organizations in the market are, but not limited to, IQAir North America Inc., Honeywell International Inc., LG Electronics Inc., Unilever PLC, Aerus LLC, Daikin Industries Ltd., Koninklijke Philips N.V., Panasonic Corporation, Hamilton Beach Brands Inc., and Whirlpool Corporation.
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The Air Purifier Market report examines competitive scenario by analyzing key players in the market. The company profiling of leading market players is included in this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.
Key points covered in this report:
• The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed.
• The import and export details along with consumption value and production capability of every region is mentioned in the report.
• Porter’s five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth.
• The report provides the clients with the facts and figures about the market on the basis of evaluation of the industry through primary and secondary research methodologies.
The Air Purifier Market report highlight the economy, past and emerging trend of industry, and availability of basic resources. Furthermore, the market report explains development trend, analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out. In the end, the report makes some important proposals for a new project of Air Purifier Market before evaluating its possibility.
About Kenneth Research:
Kenneth Research is a reselling agency which focuses on multi-client market research database. The primary goal of the agency is to help industry professionals including various individuals and organizations gain an extra edge of competitiveness and help them identify the market trends and scope. The quality reports provided by the agency aims to make decision making easier for industry professionals and take firm decisions which helps them to form strategies after complete assessment of the market. Some of the industries under focus include healthcare & pharmaceuticals, ICT & Telecom, automotive and transportation, energy and power, chemicals, FMCG, food and beverages, aerospace and defense and others. Kenneth Research also focuses on strategic business consultancy services and offers a single platform for the best industry market research reports.
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