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(Health-NewsWire.Net, August 13, 2021 ) The Key Growth Elements in Detailed?
The Growth of Residential Air Purifiers Market is majorly driven by the growing popularity of smart homes, supportive government regulations for effective air pollution monitoring and control, increasing public-private funding for effective air pollution monitoring, rising levels of air pollution worldwide, and increasing public awareness related to the healthcare and environmental implications of air pollution. Also, the need for an energy-efficient air purifier and R&D being undertaken to bring innovative products to the Air Purifiers Market is aiding the market growth.
Worldwide Growth Opportunities in Terms of Revenue:
The Residential Air Purifiers Market is projected to reach USD 13.6 billion by 2025 from USD 9.2 billion in 2020, at a CAGR of 8.2% during the forecast period.
Driver: Growing popularity of smart homes;
Smart connected homes are equipped with smart devices that enable residents to control or program an array of automated home electronic devices/products remotely through a smartphone. Smart homes are usually equipped with devices, such as detectors and sensors, to monitor, analyze, and control the quality of air indoors. When the air quality is below the desired level, the sensors intimate the residents of impurities in the air and signal the air quality monitors to start purifying the air.
Opportunity: Emerging markets to offer high growth opportunity;
Emerging markets such as China, India, Brazil, and Russia are expected to offer significant opportunities to the manufacturers and distributors of residential air purifiers in the coming years. This can be attributed to the rising pollution levels in these countries, coupled with increasing public awareness, a growing number of diseases caused by air pollution, increased consumer expenditure due to population expansion and rising disposable incomes, and greater government expenditure for effective air quality monitoring.
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Regional Growth, Development and Demand Analysis:
The Asia Pacific residential air purifiers market is expected to grow at the highest CAGR from 2020 to 2025. the fast adoption of advanced indoor air quality monitoring technologies, ongoing technological advancements in the field of particulate sensors, rising public-private funding and investments, and the presence of supportive government regulations, are increasing the adoption of residential air purifiers in the Asia Pacific. Moreover, a number of major global players are based in Japan, owing to which Japan is a center for innovation in the residential air purifiers market.
Major Key Players Mentioned in the research report are:
The prominent players in Residential Air Purifiers Market are Daikin Industries, Ltd. (Japan), Sharp Corporation (Japan), Honeywell International Inc. (US), LG Electronics Inc. (South Korea), Panasonic Corporation (Japan), Koninklijke Philips N.V. (Netherlands), and Dyson (UK).
Daikin Industries, Ltd. is a leading provider of essential solutions and services for air conditioning equipment. It has been serving the medical device industry for over 95 years. The company has an exhaustive portfolio and seeks to strengthen it further through product launches and enhancements or upgrades. The companys strong focus on R&D activities has helped it build a strong portfolio of innovative products. It has invested about USD 300 million in advanced R&D centers and has also earned a high reputation for its after-sales service. Daikin further seeks to expand the conditioning and fluorochemicals businesses under its strategic management plan, “FUSION 20.” Daikin achieved record sales and operating income in 2019. The company plans to further gain a competitive edge in the Residential Air Purifiers Market by strengthening its existing businesses and making proactive investments in the IoT and AI sectors, while also accelerating measures to be an environmental leader and support a sustainable global society.
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