Yahoo Finance $88.4 Billion Worldwide Air Purification Equipment Industry to 2031 - Identify Growth Segments for Investment
Dublin, July 01, 2022 (GLOBE NEWSWIRE) -- The "Air Purification Equipment Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global air purification equipment market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest growing market for the air purification equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Air Purification Equipmen market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider air purification equipment market, and compares it with other markets.
The market characteristics section of the report defines and explains the market
The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery
Market segmentations break down market into sub markets
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers
The air purification equipment market section of the report gives context. It compares the air purification equipment market with other segments of the air purification equipment market by size and growth, historic and forecast
Major players in the air purification equipment market are Daikin Industries Ltd, Sharp Corporation, Camfil Group, Philips Electronics N.V, LG Electronics Inc, Panasonic Corporation, 3M Company, Mann+Hummel, Honeywell International Inc, and Clarcor Inc.
The global air purification equipment market is expected to grow from $56.1 billion in 2021 to $60.8 billion in 2022 at a compound annual growth rate (CAGR) of 8.4%. The market is expected to grow to $88.43 billion in 2026 at a compound annual growth rate (CAGR) of 9.8%.
The air purification equipment market consists of sales of air purification equipment by entities (organizations, sole traders, and partnerships) that produce air purification equipment that is used for removing contaminants from the air in a room to improve indoor air quality. Only goods and services traded between entities or sold to end consumers are included.
The main product types of air purification are stand-alone air purification equipment and induct air purification equipment. An in-duct air purifier will be installed directly into the air duct path. It will be installed either before or after the air handler in homes with a central HVAC unit. The technologies involved are HEPA, electrostatic precipitators, activated carbon, ionic filters, and other technologies. The various end-users involved are residential, commercial, and industrial.
The Asia Pacific was the largest region in air purification equipment in 2021. Western Europe was the second largest region in the air purification equipment. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Increasing health problems due to air pollution is projected to boost the demand for the air purification equipment market. Rising deaths and diseases caused by air pollution are generating higher demand for devices used for air purification to remove harmful pollutants in the air. According to the World Health Organization (WHO), air pollution is a major cause of death and various diseases.
Air pollution is responsible for approximately 4.2 million deaths annually across the globe, mainly from heart disease, chronic obstructive pulmonary disease, lung cancer, acute respiratory infections, and stroke. In the USA alone, there are around 200,000 premature deaths annually. Moreover, air pollution is alone responsible for 29% of lung cancer, 43% of chronic obstructive pulmonary disease, 17% of acute lower respiratory infection, and 24% of stroke of all deaths and diseases worldwide. The increase in impurities in the air is expected to drive the demand for the air purification equipment market during the forecast period.
The risk and high maintenance charges associated with the air purification equipment are expected to limit the growth of the air purification equipment market. Air purification systems are good at eliminating dust, but may not prove an effective solution for removing bad odor. Some air purification systems release an excess number of ions in the air which leads to ozone emissions and is considered to be harmful to the environment. Moreover, high maintenance charges on disposable and replaceable filters ranging between $20 and $200 are another major restraint for market growth. These disadvantages associated with the usage of air purification systems are expected to hamper the air purification equipment market during the forecasted period.
Partnerships and collaborations by the industry players are gaining popularity in the air purification equipment market. Major companies are strategically acquiring start-ups and mid-sized companies in the air purification market to broaden the products and services offered by the company. Strategic collaborations and partnership agreements help companies to expand their existing product portfolio and geographical reach. For instance, in February 2019, AAF Flanders signed a partnership agreement with IONaer International LLC to introduce CleanAir EXP Purification System in the market. CleanAir EXP Purification System is a revolutionary air purification and monitoring solution. The purification system combines the most sophisticated in-room sensors technology with the latest air purification technology to deliver clean indoor air.
In January 2021, Daikin, an Indian based Air conditioning manufacturer acquired Citizen Industries for an undisclosed amount. This acquisition of citizen industries Daikin would strengthen its presence in the fast-growing commercial air-conditioning mark and expects the segment to increase its contribution up to 35 percent of its turnover from next year. Citizen industries is an India-based manufacturer and distributor of applied secondary equipment.
Key Topics Covered:
1. Executive Summary
2. Air Purification Equipment Market Characteristics
3. Air Purification Equipment Market Trends And Strategies
4. Impact Of COVID-19 On Air Purification Equipment
5. Air Purification Equipment Market Size And Growth
5.1. Global Air Purification Equipment Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Air Purification Equipment Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Air Purification Equipment Market Segmentation
6.1. Global Air Purification Equipment Market, Segmentation By Product Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Stand-Alone Air Purification Equipment
Induct Air Purification Equipment
6.2. Global Air Purification Equipment Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Residential
Commercial
Industrial
6.3. Global Air Purification Equipment Market, Segmentation By Technology , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
HEPA
Electrostatic Precipitators
Activated Carbon
Ionic Filters
Other Technologies
7. Air Purification Equipment Market Regional And Country Analysis
7.1. Global Air Purification Equipment Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Air Purification Equipment Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/8xmzw9
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