Air Purification Systems Market – Expanding at a CAGR of 8.2% from 2018 to 2026
According to a new market report published by Transparency Market Research titled ‘Air Purification Systems Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026, the global air purification systems market is expected to reach US$ 38,340.6 Mn by 2026, expanding at a CAGR of 8.2% from 2018 to 2026. In terms of volume, the market is expected to reach 175,864 thousand units in 2026, expanding at a CAGR of 7.2% from 2018 to 2026. Asia Pacific held a prominent share in the global air purification systems market in 2017.
Global Air Purification Systems Market: Trends and Opportunities
Air purification is a device or system which is primarily employed in industrial, commercial, and residential applications to remove or control the air contaminants and impurities from the air and to provide clean air in a room. There is a difference between an air cleaner and an air purification system. Air cleaners consist of a fan which creates noise when operated at high speed and are also costly to maintain, whereas an air purifier is a silent device and requires relatively less maintenance.
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Poor Indoor Air Quality (IAQ) is a major concern to schools, buildings, hospitals, and workers because it can impact the health, comfort, well-being, and productivity of occupants. Rising awareness related to ill-effects of poor IAQ and increasing infrastructure and industrial activities are the major drivers of the air purification systems market. Asia Pacific dominates the market in terms of demand. Countries such as China, Japan and South Korea are expected to be the key consumers of air purification systems. Higher prices and release of byproducts from air purifiers is anticipated to hamper the market growth.
In terms of technology, High Efficiency Particulate Air (HEPA) purifier is anticipated to be the major segment during the forecast period followed by activated carbon purifier and electrostatic precipitator. In terms of end-use, the industrial sector is expected to the major segment for air purification systems.
Residential segment is the second most lucrative segment. Increase in research activities related to air purification systems is estimated to offer major opportunities to the air purification systems market in the next few years.
The global air purification systems market is consolidated. Key players in the market include Daikin Industries Ltd., Sharp Corporation, Camfil Group, Philips Electronics N.V., 3M Company, Panasonic Corporation, LG Electronics Inc., Mann+Hummel, Honeywell International Inc., Clarcor Inc., Whirlpool Corporation, SPX Flow, Eureka Forbes, Electrocorp, and Fumex Inc.