The air treatment products market consists of various equipment used to improve indoor and ambient air quality by filtration or disinfection methods. Some key products in this market include air purifiers, humidifiers, dehumidifiers, and other air sterilization equipment. Rising levels of air pollution from industries and vehicles have increased health concerns related to respiratory diseases. This has driven demand for air purifiers and other devices that remove pollutants, allergens, odors, and microbes from indoor and surrounding air. Advancements in nanotechnology have enabled manufacturers to develop high-efficiency particulate air (HEPA) filters and activated carbon filters that can trap ultra-fine particles and gaseous pollutants. Furthermore, the outbreak of COVID-19 has boosted sales of air purifiers as they effectively inactivate viruses and bacteria from the air.
The Global Air Treatment Products Market is estimated to be valued at US$ 48,581.0 Mn in 2019 and is expected to exhibit a CAGR of 11.8% over the forecast period 2020-2027.
Key Takeaways
Key players operating in the air treatment products market are Daikin Industries Ltd., Honeywell International Inc., LG Electronics, Panasonic Corporation, Koninklijke Philips N.V., and Sharp Corporation.
Air Treatment Products Market Growth health awareness and rising disposable incomes in developing nations present significant growth opportunities. Governments are also implementing strict indoor air quality regulations in public places and workplaces.
Leading brands are expanding their geographical footprint in Asia Pacific and Middle East & Africa. Localized manufacturing and marketing strategies help optimize supply chains and costs in these high-growth regional markets.
Market Drivers
Rising Pollution Levels: Emissions from industries, automobiles, and construction activities have deteriorated outdoor and indoor air quality globally. This has increased the prevalence of respiratory issues like asthma. The need for air purifiers and other treatment products is growing to filter out particulate matter and airborne pollutants.
Growth of Real Estate Sector: Expanding construction of malls, commercial buildings, and residential townships boosts demand for HVAC (heating, ventilation, and air conditioning) equipment integrated with purifiers, humidifiers/dehumidifiers for indoor climate control and ensuring occupant health.
PEST Analysis
Political: Air treatment products companies are closely regulated in terms of product quality and customer safety standards. Governments regulate emissions from industries and set guidelines for ambient air quality.
Economic: As consumer spending power increases with economic growth, demand for air treatment products rises. Economic downturns may negatively impact the market as customers spend less on non-essential products.
Social: Higher awareness about air pollution and its health impacts is driving demand for air purifiers and air quality monitors. Growing health consciousness and allergy problems are key social drivers.
Technological: Sophisticated sensors and IoT enable advanced air quality monitoring while new filtration techniques and materials improve product effectiveness. Connectivity and remote monitoring via mobile apps provide convenience.
Geographical regions of concentration
North America accounts for the largest value share due to stringent pollution regulations and higher spending power of consumers. Early technology adoption and large residential and commercial construction also contribute to market growth. Asia Pacific is a major market led by China, India and other developing countries with worsening air quality issues and a burgeoning middle class.
Fastest growing region
Asia Pacific region is projected to be the fastest growing regional market during the forecast period. Rapid urbanization, infrastructure growth and industrialization have severely deteriorated air quality levels in many cities across the region. Rising health issues, increased awareness and expanding per capita incomes are expected to drive strong demand for air treatment products from both residential and commercial sectors.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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