Air treatment products such as air purifiers, air filters, and air conditioners play an important role in improving indoor air quality and protecting people from harmful air pollutants. Technological advancements have made air treatment products compact, energy-efficient, and effective at removing allergens, viruses, smoke, and pollutants from indoor environments. The growing awareness about health risks associated with air pollution has also fueled demand for air purifiers and other related products globally.
The Global Air Treatment Products Market is estimated to be valued at US$ 48,581.0 Mn in 2019 and is expected to exhibit a CAGR of 11.8% over the forecast period 2020-2027.
Key Takeaways
Key Players: Key players operating in the air treatment products market include Honeywell International Inc., Daikin Industries Ltd., Sharp Corporation, LG Electronics, Panasonic Corporation, Koninklijke Philips N.V., Whirlpool Corporation, Dyson Ltd., Unilever Group, and Xiaomi Corporation. These players are focused on developing innovative products with enhanced capabilities to purify air and reduce pollutants.
Growing Demand: Air Treatment Products Market Growth is rising urbanization and increasing construction of commercial buildings are major factors driving the demand for advanced air treatment solutions across the globe. Growing health awareness among consumers has also bolstered the sales of air purifying appliances in both residential and non-residential sectors.
Technological Advancement: Leading companies are investing heavily in R&D to develop smart air purifiers integrated with IoT, AI, and advanced sensors. Compact air purifiers are also gaining popularity for personal usage. The introduction of plasma and photocatalytic oxidation technologies has further enhanced pollutant capture efficiency of air treatment equipment.
Market Trends
Portable Air Purifiers: Portable air purifiers are becoming increasingly popular due to their compact size and ease of mobility. The trend for smart home appliances is also propelling the demand for Wi-Fi enabled portable purifiers.
Customized Solutions: With rising pollution levels in different regions, manufacturers are offering customized product ranges based on local requirements. They are also providing filtration solutions for unique application areas like laboratories, hospital rooms etc.
Market Opportunities
Emerging Economies: Fast-developing countries like India, China, Indonesia, Brazil, Mexico etc. offer huge prospects for air treatment products companies. Growing expenditure power and health awareness will drive strong growth.
Vehicle Cabin Air Purification: Maintaining good air quality inside vehicles is gaining more focus. This provides opportunities for air purification system integration in automobiles and public transport.
Impact of COVID-19 on Air Treatment Products Market Growth
The COVID-19 pandemic has significantly impacted the growth of the global air treatment products market. During the pre-COVID period, the market was growing steadily at around 11% CAGR driven by increasing urbanization, rising pollution levels and growing awareness about indoor air quality. However, the outbreak disrupted the supply chain and logistics networks globally. Manufacturing facilities and production units were temporarily shut down to curb the spread during nationwide lockdowns. This led to decline in sales and revenues for air purifier brands in 2020.
As the pandemic unfolded, the demand for air purifiers surged as people wanted to improve ventilation and filtration in homes and offices. Many switched to work from home setting which further fueled the need to breathe clean air indoors. Various studies suggested that SARS-CoV-2 virus can spread through airborne transmission which boosted the sales of HEPA air purifiers, air purifying plants, and other equipment that reduce airborne contaminants. The awareness about importance of good indoor air quality increased exponentially during the pandemic. To bounce back, companies expanded their e-commerce channels and offerings of affordable air purifiers for residential use.
Going forward, the long term impact of the pandemic is expected to boost demand for air purifiers and treatment solutions in hospitals, pharmaceutical facilities and other places with vulnerable population. More investments will be directed towards innovative product development, integrating IoT features and strengthening online retail channels. While supply chain disruptions remain a challenge, the increased focus on wellness, health safety and hygiene will drive the air treatment products market towards higher growth trajectory in the post COVID times.
Geographical Regions with High Concentration in Air Treatment Products Market
The North America region currently dominates the global air treatment products market in terms of value. This is attributed to rising pollution levels, changing climate and increased spending power of consumers in the US and Canada on wellness and air quality management products for homes, schools and workplaces. Countries like America are early adopters of latest air purifying technologies and witness high replacement demand for equipment regularly.
The Asia Pacific region is identified as the fastest growing market for air treatment products globally. Factors such as rapidly growing middle class population, urbanization, increasing disposable incomes and rising environmental degradation in densely populated areas of China and India are fueling the demand. Both value and volume sales of equipment like humidifiers, dehumidifiers, and air purifiers are projected to increase manifold in the Asia Pacific region over the forecast period. Countries like Vietnam, Indonesia and Philippines are also emerging as high potential markets.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)