Air Purifier Market SWOT Analysis and Key Growth Methodologies By 2030
Portable Air Purifier Market Overview:
The global portable air purifier market is expected to be valued at USD 16,713.3 million by 2030, with a CAGR of 7% during the forecast period (2022–2030). Market Research Future (MRFR) in their report envelops segmentations and drivers for a better glimpse of the market in the coming years.
An Portable Air Purifier Market is a device or equipment, used for purifying air to make it cleaner. Air purifiers remove airborne pollutants from a room, which improves indoor air quality. These devices are beneficial for individuals that suffer from allergies and asthma. This is because such devices reduce the effect of allergens and the chances of irritation of the eyes, nose, and throat, and headaches, dizziness, fatigue, and asthma. A portable air purifier has several benefits. For instance, one can easily change its position according to their requirement. Additionally, it can be easily shifted around for maintenance related work.
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Competitive Analysis
Some of the prominent players in the global portable air purifier market are Honeywell International Inc. (US), Panasonic Corporation (Japan), Whirlpool Corporation (US), and Hamilton Beach Brands Holding Company (US), Levoit (US), Guardian Technologies (US), Blueair (Sweden), Airfree (Portugal), Real Spirit USA, Inc. (US), and Austin Air Systems Limited (US).
Segmental Analysis
The global Portable Air Purifier industry is segmented based on type and application. On the basis of type, the HEPA segment is expected to dominate the global market. The HEPA filters must meet a standard of removing minimum 99.97% of all particles that are 0.3 microns in size. This standard makes HEPA filters ideal for residential and commercial use.
On the basis of application, the residential segment is expected to dominate the global market. The growing number of cases of nasal allergies and asthma, which boost the demand for air purifiers in the residential segment.
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Regional/Country Analysis
Geographic analysis of the global portable air purifier market spans across North America, Europe, China, Southeast Asia, and the rest of the world.
In 2018, North America was the leading market with a market value of USD 2,318.2 million. The regional market value is expected to reach USD 3,421.9 million by 2025 with an impressive 5.73% CAGR during the forecast period. In North America, awareness regarding asthma, allergy, or pet dander is, high. According to a report by the U.S. Environmental Protection Agency (EPA), residents in the US spend 90% of their time indoors, where the concentration of some pollutants are often 2 to 5 times higher than the outdoor concentration. Therefore, there is a huge chance of them facing health-related issues, such as headaches, asthma, and respiratory diseases, due to the indoor pollutants. The awareness regarding such diseases has led the market for air purifier in North America.
Moreover, according to the National Pet Owners Survey, 2017–2018, around 85 million families in the US own a pet, causing poor indoor air quality because of pet dander and other allergens, such as saliva, urine, and feces. Poor indoor quality inside the houses is one of the reasons of boosting the demand for portable air purifiers in North America.
In 2018, Europe held the second largest market share in the portable air purifier market. The region has a high urbanization rate, which is increasing consumer spending on lifestyle products. This along with the worsening air quality in the region are some of the factors, fueling the portable air purifier market in Europe. Due to the growing urbanization, many houses have been built. Newly painted houses, new furniture, smell of cleaning products, tobacco smoke, gases or particles from burning fuels, chemicals, and allergens are some of the reasons of poor indoor air quality. Poor indoor air is harmful, especially for the elderly, young children, and those with cardiovascular and chronic respiratory diseases. According to the Health and Environment Alliance (HEAL), Europeans spend 90% of the time indoors while the kids in Europe spend one-third of their days in schools. The requirement of good indoor air quality for residential and commercial segment, lead to the purchase of air purifiers. In 2018, the regional market was valued at USD 2,146.7 million, which is expected to reach USD 3,313.2 million by 2027 with a 6.41% CAGR during the forecast period.
The rest of the world is one of the fastest growing region in the global portable air purifier market. The rest of the world includes regions, such as the Middle East & Africa and South America. The rest of the world market was valued at USD 3,622.3 million in 2018, which is expected to reach USD 6,216.8 million by 2027 with a CAGR of 8.03%. With the rapidly growing population in the region, high-temperature level, an increase in the number of vehicles on the road, increasing construction activities, regular sandstorm, and others are some of the reasons of poor indoor air quality in the region. Moreover, the indoor environment is also affected by outdoor air quality and pollutions, such as the transport of outdoor contaminants to the indoor environment. Due to poor indoor air quality, the consumers are willing to use air purifiers in their homes, schools, and workplaces, which further drives the market for portable air purifiers in this region.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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