Air Purification Systems Market Size, Share, Growth, Trends, Scope, Regional Insights and Forecast 2020 – 2027
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Sep 10, 2020 (Profound via COMTEX) —
The global air purification systems market size was valued US$ 8.50 Bn in 2019 and to reach valuation over US$ 21 Bn by 2027.
The global air purification systems market is expected to grow with a CAGR of 11.2% from 2019 to 2027.
The study has considered the base year as 2019, which estimates the market size of market and the forecast period is 2020 to 2027. The report analyzes and forecasts the market size, in terms of volume (thousand units) and value (USD million), for the market. The report provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). The report covers key players and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments such as joint ventures, mergers amp; acquisitions, new product launches, expansions, and other activities carried out by key industry participants.
Air purification systems market will experience considerable traction in the upcoming years driven by the significant need for clean air technologies. These systems are widely used in a range of end-use sectors including automotive, building amp; construction, healthcare, energy amp; utilities, and manufacturing. Air purification systems, or air purifiers, consist of a series of internal fans that pull the indoor air through a set of filters to remove hazardous airborne particles such as pollen, dust, and even bacteria.
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The past several years have witnessed a notable rise in the global population, which has resulted in rapid expansion of the residential and commercial sectors. In addition to improving the quality of indoor air, several studies show that the installation of air purification systems can reduce the risk of some cardiovascular diseases and heart conditions. These trends are likely to fuel the adoption of air purifiers in homes, schools, offices, healthcare facilities, and other spaces. The robust industrial development across the globe will propel the product penetration across the industrial sector.
On the basis of technology, global air purification system industry is segmented into HEPA, activated carbon, electrostatic precipitators, UV light purifier, and ionic filters. HEPA air purifiers are expected to witness a substantial demand in the near future. Poor indoor air quality can cause health problems for residents, particularly for people with allergies or asthma. High-efficiency particulate air (HEPA) purification systems are highly-effective in trapping these pollutants and provide allergy relief.
Air purification systems are prominently used across the residential, commercial, and industrial sectors. Residential sectors will likely account for a fair share of global air purification system market due to the growing adoption of these systems to maintain optimum indoor air quality and reduce the risk of respiratory and airborne diseases. Growing residential expansion in the upcoming years will certainly offer lucrative opportunities to air purifier manufacturers.
In response to the significant demand for air purifiers, manufacturers are working actively towards bringing new, innovative products to the market. Some of the prominent companies constituting global air purification system market include 3M Company, Alfa Laval, Air Products and Chemicals, Honeywell International, Philips Electronics, Panasonic Corporation, LG Electronics, Eureka Forbes, Daikin Industries, SPX, Sharp, Mann+Hummel, Fumex, Electrocorp, Clean Teq Holdings Limited, Clarcor and Camfil, among several others.
Many of these companies are investing in research and development to offer high-quality air purification systems with advanced features in a more affordable range. For instance, in November 2019, Philips India added the 800 Series air purifier to its range of air purification systems for the country. The system features Philip’s 3D air circulation system along with smart sensing technology and intelligent auto purification mode, which allows the system to detect even the slightest of changes in air quality inside the room and remove particles as small as 0.003 microns.
Some of these companies are also looking to expand their presence and gain a competitive edge. For instance, LG Corporation debuted its LG Signature range of luxury home appliances in the Japanese market in June last year. The superior range of premium home appliances aimed to offer users a compelling experience through cutting-edge technology, stunning aesthetics, and user-friendly functionality, including a new air purifier.
While the COVID-19 pandemic as impacted many industries and business worldwide, it can result in the increased adoption of air purification systems across many regions. The U.S. Environmental Protection Agency (EPA) has declared that air purifiers, when used along with other practices recommended by the Centers for Disease Control and Prevention (CDC), can reduce airborne contaminants including viruses, and help curb the transmission of the coronavirus.
Other companies are also taking similar steps to strengthen their position in the market. With large number of players are taking such steps has created a fragmented vendor landscape in the global air purification systems market. Key players in the air purification systems market are
- Daikin Industries Ltd.
- Sharp Corporation
- Camfil Group
- Philips Electronics N.V.
- 3M Company
- Panasonic Corporation
- LG Electronics Inc.
- Honeywell International Inc.
- Clarcor Inc.
- Whirlpool Corporation
- SPX Flow
- Eureka Forbes
- Fumex Inc.
The global air purification systems market has been segmented as below:
- HEPA Purifier
- Ionic Air Purifier
- Electrostatic Precipitators
- Ultra Violet (UV) Light Purifier
- Activated Carbon Purifier
- Oil amp;Mist Collectors
- Smoke Collectors
- Fume Extraction
- Exhaust Filtration
- North America
- Rest of Europe
- Australia amp; New Zealand
- Rest of Asia Pacific
- Rest of Latin America
Middle East amp; Africa
- GCC countries
- South Africa
- Rest of Middle East amp; Africa
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The Air Purification Systems market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Air Purification Systems market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Air Purification Systems market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Air Purification Systems market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Air Purification Systems market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Air Purification Systems capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Air Purification Systems by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Air Purification Systems market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Air Purification Systems market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Air Purification Systems market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Air Purification Systems industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Air Purification Systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Air Purification Systems market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Air Purification Systems market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Air Purification Systems market. These factors have benefited the growth of the global market for Air Purification Systems. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Air Purification Systems. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Air Purification Systems are as follows:
- History Year: 2016-2019
- Base Year: 2019
- Estimated Year: 2020
- Forecast Year 2020 to 2027
Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers amp; their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory amp; policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones amp; Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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