The global indoor air purification market is expected to reach USD 21.82 billion by 2024, according to a new report by Grand View Research, Inc. Growing levels of indoor air pollution and increasing regulations & guidelines implemented by regulatory authorities in industries and commercial establishments is expected to drive the global indoor air purification market over the forecast period.
According to an article published by WHO regarding household air pollution, one among every eight people died due to indoor air pollution in 2012. Rising prevalence of diseases due to air pollution in several regions is expected to increase market demand over the forecast period. Increased growth in the residential and commercial sector of Asia Pacific is projected to boost the demand for air purifiers over the forecast period.
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Further key findings from the study suggest:
- Dust collectors & vacuums were the leading product segment and accounted for 44.3% of total market revenue in 2015. Increasing health awareness coupled changing consumer lifestyle particularly in Asia Pacific is expected to drive this segment over the forecast period. It is also expected to witness the highest growth of 8.1% from 2016 to 2024.
- The HEPA emerged as the leading technology segment and accounted for over 40% of total revenue in 2015. HEPA is projected to grow at the highest CAGR on account of its functional qualities and its application in almost all major industrial sectors.
- Most of the air purification systems are consumed in the industrial sector. The segment accounted for 46.4% of global revenue in 2015. Residential is expected to witness the highest growth of 8.2% over the forecast period.
- Asia Pacific was the leading consumer with demand share estimated at 35.7% in 2015. The growing demand for indoor air purification systems in commercial, industrial, medical, hygiene, and construction sector particularly in China and India are anticipated to drive the region market over the forecast period.
- Some leading companies operating in the global indoor air purification market include 3M Purification Inc., Abatement Technologies, Inc., AllerAir Industries Inc., Aprilaire, Blueair, Inc., Honeywell International Inc., Sharp Corporation, Clarcor, Inc., MANN+HUMMEL GmbH, Life well Environment Technology Co. Ltd, Daikin Industries, Ltd., Industrial Air Solutions Inc., Halton Group, Trane Inc., Electrocorp and Lennox International Inc.
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