Air Treatment Products Market Is Expected to Exhibit a CAGR of 11.8% During the Forecast period (2020-2027)

The Global Air Treatment Products Market, By Product Type (Air Purifier, Humidifier and Dehumidifier), By Application (Residential, Commercial and Industrial) and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Global Forecast to 2027, is expected to be valued at US$ 118,801.3 million by 2027, exhibiting a CAGR of 11.8% during the forecast period (2020-2027), as highlighted in a report published by Coherent Market Insights.

Overview

Air treatment products include humidifiers, dehumidifiers, and air purifiers. Air purifiers are typically used to remove air pollutants from the air such as dust, foul odors, and microorganisms. Humidifiers are used to increase the level of humidity in the air, a dehumidifier is used to reduce the level of humidity in the air. All these devices are mainly used due to rising health concerns. Air treatment products find a wide range of applications in industrial, commercial, and residential sectors. The air purifiers are mainly used in the residential sector to reduce health concerns and for comfort. Dehumidifiers are largely used in the commercial sector.

The air treatment products market is estimated to account for US$ 118,801.3 Mn in terms of value by the end of 2027.

Market Driver

Rising implementation of aggressive marketing strategies by manufacturers is expected to drive growth of the global air treatment products market during the forecast period

Advertising, promotions, and maintaining healthy public relations are among the vital strategies required for the robust growth of the business. Key companies in the global air treatment products market are focused on intelligent marketing strategies. Promotional marketing by using benefit-oriented statements and various cost savings offered on filter replacement in air purifiers, among others, is paying rich dividends, leading to increased sales of air treatment products. Furthermore, manufacturers are entering into strategic partnerships with major online retailers to increase brand visibility. E-retailers offer lucrative discounts with other macroeconomic factors that are increasing the adoption of air treatment products. Therefore, these factors are expected to boost the global air treatment products market growth over the forecast period.

Market Opportunity

Rising awareness among consumers regarding health can present significant business opportunities in the global air treatment products market

The air treatment products market is very niche. The market is still in the nascent stage, due to low awareness among consumers regarding air quality. Major players in the air purifiers market are focusing on launching various consumer awareness programs, which would in turn result in increasing sales of air treatment products. Another factor driving growth of the market is rising disposable income. According to IBIS World, per capita, disposable income is expected to grow by 1.9% annually till 2021.

Market Restraint

The emergence of alternative and renewable energy sources is expected to hinder the global air treatment products market growth over the forecast period

Many consumers are preferring alternative solutions for conventional air treatment products. These products include houseplants, increased ventilation, beeswax candles, essential oils, salt lamps, activated charcoal, etc. These substitutes are cheaply available and are less expensive than common air treatment products. Besides, the majority of these products are naturally available, hence, such factors are expected to hinder the global air treatment products market growth over the forecast period.

Market Trends

1. App-enabled products gaining major traction

Major players in the air treatment products market have adopted the strategy of synchronizing their products with smartphones so as to enable easy operation and expand consumer base. Over the past two years, many products launched come with a smartphone app to track indoor air quality. Moreover, air purifiers have been launched that are Bluetooth- compatible. For instance, in December 2014, Xiaomi introduced a smart air purifier, which is an Internet-enabled device, which can be controlled remotely via Wi-Fi.

2. Research and development activities among market players

Key companies in the market are focused on research and development activities, in order to enhance the product portfolio. For instance, in January 2016, Samsung Electronics Co., Ltd. launched the AX7500 air purifier, which has a five-step filtration system with a three-way airflow system. In June 2013, Atlas Copco AB launched a Medical Air Plant (uAIR series) for the healthcare industry. Furthermore, in December 2015, LG Electronics launched its new air care brand ‘PuriCare’ in order to boost the sales of air purifiers and humidifiers worldwide.

Regulations

Limiting the Ozone Emissions from Indoor Air Cleaning Devices

All portable indoor air cleaning devices sold in California after October 18, 2010 must be certified by the California Air Resources Board. To be certified, air cleaners must be tested for electrical safety and ozone emissions, and meet an ozone emission concentration limit of 0.050 parts per million. For the purpose of compliance with this regulation only a single model of indoor air cleaning device within a model group, if one exists, must be evaluated under the test methods. Testing to determine compliance with the requirements of this article, shall be performed following the ANSI/UL Standard 867 or ANSI/UL Standard 507, whichever is applicable, in their entirety, which are hereby incorporated by reference as defined in Section 94801.

Global Air Treatment Products Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 has significantly disrupted all the industries including infrastructure, automotive, manufacturing, and others. To combat COVID-19 pandemic, several countries have announced lockdowns and this has significantly impacted air purifiers manufacturers as the facilities across the globe were temporarily shut down. On the supply side, the business of air treatment products such as air purifiers was severely hampered as most of the countries had announced lockdown globally. Retail sales have decreased due to disruption in supply chain and logistics. Further, most of the people are dying due to the air pollution. For instance, according to the World Health Organization (WHO), approximately 3 million people die every year from ailments that are caused by air pollution globally. Due to this, demand for air treatment products such as air purifiers has increased to a certain extend in the market.

Competitive Section

Key players involved in the global air treatment products are Atlas Copco AB, AMFAH Group, Samsung Electronics Co., Ltd., Winix Inc., Panasonic Corporation, De’Longhi S.p.A., Sharp Corporation, and Honeywell International Inc.

Key Developments

1. Key companies are focused on product launches, in order to gain a competitive edge in the market. For instance, in January 2019, Panasonic Corporation introduced a new air purification technology nanoe X at AHR Expo 2019.
2. Major market players are involved in product development, in order enhance the product portfolio. For instance, in March 2019, Sharp Corporation introduced a novel air purifier cum humidifier KC-G40M in India.

Segmentation

Market Taxonomy:

1. By Product Type:

• Air Purifier
• Humidifier
• Dehumidifier

2. By Applications

• Residential
• Commercial
• Industrial

3. By Region

• North America
• Europe
• Asia Pacific
• ROW