iCrowdNewswire Dec 17, 2020 10:56 AM ET
According to BlueWeave Consulting, the Global air cleaners market reached USD 4.9 billion in 2019 and is further projected to reach USD 7.8 billion by 2026, growing at a CAGR of 7.4% during the forecast period. Air cleaners are largely used for maintaining a cold and pollution-free environment, thus leading to a rise in the growth and demand of air cleaners in the market. Besides, rising air pollution levels are expected to raise the requirements for air cleaners. The investments for developing new advanced air cleaners are also rising. The administration’s legislative support would also be benefitting in launching newly developed air cleaners’ products in the market which ultimately exacerbates the market growth.
“Requirement of structured treatment methods due to the stringent regulations by the government is likely to drives the air cleaners’ market”
Great progress and steps have been taken by the government to achieve good air quality standards. The rising air pollution now has become the major concern of the authorities and hence, the authorities in recent years revised standards for pollutants subjected to national air quality standards. They tend to make these standards more protective to protect public health and the environment. This high demand for structured treatments for good air quality becomes the major driver for the global air cleaners’ market. Furthermore, construction of new industrial facilities is most likely to affect the atmospheric environment and air quality standards thus the government has set up various international standards that should meet and they also must obtain a pollutant discharge permit for industrial emissions. Hence, these strict regulations would ultimately support the air cleaners’ market growth.
“Growing industrial and commercial sector would drive the growth of global air cleaners’ market”
Rising income levels and rising work migration have produced a demand for air Cleaners in industrial residential, commercial sectors and these prominent industries are helping in the growth of the global economy. The rise in urbanization and pollution level due to the growing residential sector would likely to surge the demand for air cleaners in the market. Moreover, the growing building constructions and commercial building developments are contributing significantly to the rising demand for air cleaners in the market.
HEPA filters occupy the largest share of the air cleaners’ market
The High-efficiency Particulate Air (HEPA) technology segment dominates the market as they are a special type of extended surface mechanical filter. They are generally manufactured using submicron glass fibers and can remove around 99.7% of the particles having a size greater than or equal to 0.3 microns. The HEPA filters technology can provide good efficiency for filtering the harmful particles. Thus, owing to its reliability, the HEPA filters technology segmented is likely to witness high growth in the global air cleaners’ market. Furthermore, air cleaners combined with HEPA technology are largely in demand for the hotels and restaurants sector to maintain the air quality in the environment by removing particulates from the air.
Global Air Cleaners Market: Regional insights
The global air cleaners’ market is segmented into five key regions namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America has the highest market share in the global air cleaners’ market as the residential and the commercial sector is growing here rapidly. Thus, the demand for air cleaners will likely augment in North America. Furthermore, the rising demand for automobiles is expected to stimulate the production of air cleaners in the market in regions such as Asia pacific followed by the Middle East & Africa and Latin America. Several government initiatives are also likely to support the growth of air cleaners in the market across the globe.
“Asia Pacific is expected to witness significant growth in the market during the forecast period”
In recent years, the Asia-Pacific air cleaners’ market has gained momentum due mainly to the growing residential and commercial sectors. The growing industrialization in developing countries such as China and India are expected to generate lucrative opportunities for growth in this market due to the high usage of air cleaners in the regions. The major factor anticipating the growth of air cleaners in the Asia Pacific region is raising awareness among the people regarding the harmful effects of air pollution which will cause more adoption of air cleaners. However, the presence of other various alternative options used for air cleanings such as salt lamps, activated charcoal, beeswax candles, and others in developing countries anticipated that they will contribute to the growth of the region-wide air cleaners’ industry.
“The leading players” in the air cleaners market are Koninklijke Philips N.V.; Panasonic Corporation; Hamilton Beach Brands, Inc.; Whirlpool Corporation; Carrier; Camfil; Aerospace America, Inc.; Envirco; Legend Brands; B-Air; XPOWER Manufacture Inc.; Abatement Technologies; Omnitec Design; Pullman-Ermator; NIKRO INDUSTRIES, INC and others are expanding their presence in the market by implementing various business strategies.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of global air cleaners market size & forecast. The report promises to provide air cleaners recent developments in the market and industry insights which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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