Yahoo Finance Portable Air Purifier Market to grow at 11.50% CAGR by 2027 | Market Research Future (MRFR)
Key companies profiled are Honeywell International Inc. (US), Panasonic Corporation (Japan), Whirlpool Corporation (US), and Hamilton Beach Brands Holding Company (US), Levoit (US), Guardian Technologies (US), Blueair (Sweden), Airfree (Portugal), Real Spirit USA, Inc. (US), and Austin Air Systems Limited (US)., among others.
Pune, May 20, 2021 (GLOBE NEWSWIRE) -- COVID-19 Fostered the Market Demand Promoting the Need for Clean, Safe Air
The global portable air purifier market is witnessing rapid traction. The growth is majorly led by the rising adoption of portable air purifiers for residential and commercial purposes. In pre-COVID 19 periods, people had a general notion that clean air and proper ventilation help prevent all sorts of allergies & airborne illnesses, reducing the transmission of viruses.
However, the onset of the novel coronavirus pandemic brought forward the acute need for clean and safe air. Resultantly, air purifier uses in residential and commercial setups increased drastically over the past year. The growing awareness of air purifier's advantages in managing asthma, allergy, and other conditions, such as pet dander, support the market rise further.
Moreover, rapid urbanization in various economies and the adoption of portable air purifiers in residential and commercial applications substantiate the market growth. Industry players strategically focus on broadening their product offering, expanding their footprints in various countries/regions. They even go for online channels to increase their sales, making their product line available online.
According to Market Research Future (MRFR), the global portable air purifier market is poised to garner exponential traction by 2027, growing at an impressive 11.50% CAGR during the review period (2020 to 2027). Air purification technologies rely heavily on HEPA filters to curb the spread of harmful viruses and pathogens by retaining them in the filter.
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COVID 19 Impacts on the Market
The coronavirus pandemic impacted the portable air purifier industry positively. The interest around hygiene and immunity heightened after the onset of the pandemic churned the market significantly. Of course, air purifier manufacturing companies faced problems ranging from obtaining raw materials & components and attracting workers from quarantines to bringing end products to markets and delivering them to end-users.
However, pandemic-related issues promoted air purifier uses to fight COVID 19 challenges. Concerns about the poor air quality have not only accelerated the market rise but also the air purifier manufacturing capacities. Resultantly, the global portable air purifier market is witnessing increasing revenues, while other industries are facing severe revenue losses. Major manufacturers are making substantial investments in R&D and production and are adopting automated production processes.
Industry Trends
The global portable air purifier market outlook appears extremely positive, mainly due to mounting incidences of airborne infectious diseases and viral infections. Besides, the rising awareness among consumers about depleting clean air levels due to increasing pollution in the environment increases the market sales.
Moreover, the increasing life-threatening epidemics like H1N1 Swine flu, H5N1 Avian influenza, and now COVID 19 pandemic has been creating substantial market demand. Developments in distribution channels, including online/ecommerce platforms and offline stores, foster the market growth, bringing about advanced air purifiers with wide price ranges.
Manufacturers are increasingly getting their devices tested from research labs, such as MRIGlobal and Global Plasma Solutions, to review/check how effective their air purifiers are in combating the COVID virus in the air or inactivating COVID 19 virus presented in the air and on surfaces in larger chambers.
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Air purifiers are now marketed as comprehensive solutions protecting against multiple viruses, including COVID-19. Businesses are taking innovative steps to reopen and get back to life safer, smarter, and stronger than before. In such a scenario, providing a safe environment for staff and customers has become more important.
Segmentation
The portable air purifier market forecast is segmented into types, applications, and regions. The type segment is sub-segmented into HEPA, active carbon, electrostatic precipitator, ion and ozone generator, and others. Among these, the HEPA segment accounts for the largest market share, witnessing the high preference among end-users. HEPA air purifiers can easily eliminate dust mite residue, small pet dander particles, and other small pollutants from the air.
The application segment is sub-segmented into residential and commercial. The residential segment accounts for the largest market share due to the rise concerns regarding dust and odors in households. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and rest-of-the-world.
Regional Analysis
North America is assessed to retain its dominance over the global portable air purifier market. The largest market share attributes to strict regulations and considerable spending on health & wellness.
The strong presence of major air purifier manufacturers, such as Levoit, Hamilton Beach, Guardian Technologies, Honeywell, and Whirlpool, contributes to the regional market growth. Moreover, the high awareness for measures to be taken to manage asthma, allergy, pet dander, and other airborne conditions creates substantial market demand.
Europe stands second in the global portable air purifier market. The market is driven by major innovations in home and commercial appliances. Rising uses of air purifiers in residential and commercial spaces are a major factor pushing the market growth.
Additionally, the presence of major players and well-developed consumer electronics industries impact the region's portable air purifier market share positively. Rising consumer purchasing power impacts the penetration of portable air purifiers in the region further.
Asia Pacific has emerged as a profitable market for portable air purifiers globally. Factors such as heightened demand for air purifiers in residential and commercial setups allow excellent market growth. Furthermore, rising pollution levels due to biomass burning and vehicle & industrial emissions create significant growth opportunities.
Increasing cases of asthma, airborne viruses, and allergies to odors, dust, and other air particles increase air purifier sales in the region. Moreover, children, elderly, and ailing people with low immunity boost the market growth, led by high recommendations to use wearable air purifiers to protect themselves from the irritation of the eyes, nose, throat, asthma, and respiratory diseases.
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Competitive Analysis:
The portable air purifier market witnesses several strategic partnerships, alongside other strategic approaches such as expansion, collaboration, mergers & acquisitions, and service & technology launches. Leading industry players make vast investments in research and development activities and fostering their expansion plans.
For instance, on March 30, 2021, Welbilt, Inc. (the US), a leading global provider of commercial foodservice equipment, announced its foray into portable air purifier distribution across the US. Welbilt would act as an exclusive US distributor for AeroTherm, a new portable air purifier Powered by Trotec and crafted by Welbilt with a touch screen user interface and Wi-Fi & Bluetooth connectivity.
Players involved in the market are Panasonic Corporation (Japan), Honeywell International Inc. (US), Whirlpool Corporation (US), Levoit (US), Hamilton Beach Brands Holding Company (US), Guardian Technologies (US), Airfree (Portugal), Blueair (Sweden), Austin Air Systems Limited (US), and Real Spirit USA, Inc. (US).
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