The competition in the global air purification systems market is likely to grow in the near future. Players are investing in using advanced and innovative technologies for the development of optimum purification, energy efficient, and low emission products with the aim to reduce environment degradation. With rising focus on these areas, players aim to increase sales of their products and maximize their earnings. Investment in mergers and acquisition, partnership, and expansion has also increased by the players to extend their presence in different regions. For example, Sharp Corporation recently introduced new product SHARP KC-G40M in the Indian market. This product is a combination of humidifier and air purifier that provides comfort and convenience during summers. The company aim was to expand its base in India and provide its products to the huge population base.
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. In the report, prominent players are thoroughly discussed based on the strategies used along with share held by them. Some of the key players in presented in the report are Camfil Group, 3M Company, Philips Electronics N.V., Panasonic Corporation, Mann+Hummel, LG Electronics Inc., SPX Flow, Clarcor Inc., Honeywell International Inc., and Whirlpool Corporation.
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Air Purification Systems Market to Rise a Healthy CAGR Of 8.2%
In the report by Transparency Market Research, the global air purification systems market is projected to mark its rise at healthy 8.2% CAGR over the period of eight years from 2018 to 2026. Rising at this rate, the market is projected to generate ~ US$ 38.3 Bn by end of 2026. Additionally, the volume sales is also expected to rise, estimates states that the nearly 175,864 thousand units are projected to be sold by 2026. Keeping all these figures in place, the global air purification systems market has huge opportunity for growth.
Key Trends Augmenting Growth for Air Purification Systems
- Rapid Industrialization and Urbanization - Globally, urbanization is growing significantly, as large number of people are moving towards cities and towns from lesser developed areas. This has lead in increased building and construction projects that increased pollutants in the environment. Urbanization has also increased traffic on roads resulting in excess release of toxic gases. Owing to these factors, the demand for air purification systems boosted to keep the air inside the houses fresh and pollution free.
- Rising Health Issues Due to Air Pollution – Nowadays, numerous health issues are also rising due to increasing air pollution. Various respiratory diseases are aggravated including bronchitis, emphysema, and asthma. Thus, to reduce the impact of these diseases demand for air purification systems has increased. As these systems produce less noise and their maintenance cost is also low, its demand increased in residential and commercial sectors.
Increasing Building and Construction Projects Fueled Demand for Air Purification Systems in Asia Pacific
Regionally, Asia Pacific is projected to lead the global air purification systems market. Increasing building and construction projects in China, India, Japan, and other countries is the major factor behind the rise of air purification systems in Asia Pacific. Moreover, rising cases related to health including asthma and other respiratory cases have also lead the demand for air purification systems in this region.
North America and Europe on the other hand, are projected to rise at a moderate rate that is around 8% and 7% respectively. People in this region are mostly aware about the use of air purification systems, which makes these regions preferable for the growth of this market.
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