The global dehumidifier market is
anticipated to reach USD 3.54 billion by 2022, according to a new report by
Grand View Research, Inc. Increasing construction activities worldwide is
expected to primarily contribute to industry growth. Technological advancements
such as integration into existing HVAC equipment is expected to boost industry
growth over the forecast period.
Price,
energy efficiency, and size are anticipated to be critical parameters affecting
consumer buying behavior. Product recall owing to technical issues is expected to
hinder industry growth over the forecast period. Increasing competition due to
the presence of a large number of players has led to price reductions, which
may affect profitability. Growth of the organized retail industry in Asia
Pacific, Latin America and Africa has further intensified competition.
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Further key findings from the study suggest:
- Increasing demand for energy efficient dehumidification is anticipated to drive heat pumps demand over the next seven years. These products are expected to continue accounting for over 10% of the overall revenue during the forecast period. Chemical absorbent or desiccant products are expected to witness growth on account of growing demand in office buildings, restaurants, food and beverage industry, hotels, and medical centers.
- The industry can also be classified based on application into residential, industrial, and commercial segments. Industrial is anticipated to be key application over the forecast period owing to increase usage of dehumidifiers in maritime, cold storage, food and beverage, and construction sector. The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) formulated the Improved Indoor Air Quality (IAQ) and ventilation guideline which is expected to drive demand in residential applications.
- Increasing adoption in hotels, supermarkets, offices, restaurants, swimming pools, schools, and multiplexes is expected to drive the commercial segment. Residential dehumidifiers market is expected to be driven by rising health awareness and increasing disposable income.
- Rising number of restaurants and hotels coupled with the growing construction industry is expected to propel North America dehumidifier market growth. Dehumidifiers are used for maintaining moisture-free food quality to enhance customer satisfaction. Competition in North America and Europe has intensified owing to regional companies offering products at low price.
- Notable companies operating in the global dehumidifier industry include Electrolux (Frigidaire), De’Longhi Appliances S.r.I, Haier Group, Heat Controller, Inc. (Comfort Aire), General Filters, Inc., and Honeywell International Inc. Other prominent vendors include Therma-Stor LLC, Sunpentown International Inc., LG Electronics, Inc., and Whirlpool Corporation.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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