A new report has been released that forecasts the global residential air purifier market for the period of 2016-2020. An analysis was prepared based on an in-depth market analysis with input from industry experts.
This report offers detailed information on the present scenario and future market landscape for the coming years.
The report answers several key questions, including:
- What will the market size be in 2020 and what will the growth rate be?
- What is driving this market?
- What are the key market trends?
- What are the challenges to market growth?
According to the report, the air purifier market is expected to grow at a compound annual growth rate (CAGR) of 6.05% during the selected period.
What’s driving this metric is the continual increase in air pollution levels and overall concern for indoor air quality. The EPA estimates that indoor air pollution is 3-5x worse than the levels found outside. This is due to the fact that many homes are very well secured to keep heat and cool in in, which also prevents airborne pollutants from being able to escape.
The most common types of indoor air pollutants include dust, pollen, pet dander, gases from aerosols and heating equipment, chemical vapors, cleaning supplies, mold spores and trapped automobile exhaust particles.
One of the biggest trends outlined in the report is the consumer demand for more energy efficient air purifiers. Like with all home electronics and appliances, consumers are conscientious about the amount of energy used by electrical devices and the increase each has on home energy costs.
Pairing that with the fact that several manufacturers are now making combo air purifiers that also include dehumidifiers, heater coils and fans, an all-in-one unit like this could end up raising a consumer’s electric bill quite drastically.
Additionally, the report indicates that the biggest obstacle that’s preventing larger growth in the air purifier market is the decrease of profit margins and an increase in research and development costs.
Several developed markets around the globe have already hit a plateau in the production of residential air purifiers, including North America and Western Europe. Manufacturers in these markets are seeing a decline in profit margins due to the increased level of competition and price of materials required for production.
Markets were divided into the following geographical segments:
- North America
While this may sound great from a consumer’s point of view, this is bad news for small companies who are already in the air purifier market or trying to break through. These small businesses are not able to compete with the aggressive pricing strategies that large manufacturers are using to beat the competition and make at least a little bit of profit.
This past year, we saw several innovative companies use the crowdfunding route to help get their products off the ground. Perhaps, we’ll see even more of this in the years to come.
Top Vendors Mentioned in the Report Include:
- Daikin Industries
Other Referenced Vendors Include:
- AllerAir Industries
- Austin Air
- EcoQuest International
- Guardian Technologies
- Hamilton Beach Brands
- O-Ion Technologies
- Rabbit Air
- Sunbeam Products
Note: Linked vendors above are ones we feature on our site.
If you’d like to read the full 89 page report, it can be reviewed and purchased from the following websites: