Smart Air Purifier Market Outlook 2031
The global smart air purifier market size was valued at USD 5.90 Billion in 2022 and is likely reach to USD 16.69 Billion by 2023, expanding at a CAGR 12.25% during the forecast period, 2023–2031. The growth of the market is attributed to rising efforts to eradicate airborne disease and maintain clean and healthy environment.
Smart air purifier is a device that removes contaminants from the air in a room to improve the indoor air quality. The market’s target consumers are allergy sufferers, asthmatics, and people who wants to reduce the effect of second hand tobacco smoke.
A smart air purifier helps in monitoring and controlling the air quality through a smartphone enabled app, which also provides live reading of air quality data.
The product also helps in tracking indoor air quality over a period of time enabling consumers to observe the time of the day with the best and worst air quality. Smart air purifiers are used to eliminate dust, dust mites, pet dander, smoke particles, vehicle exhaust, cooking smoke, and gaseous pollutants that are accumulated in the installed surrounding area.
Smart Air Purifier Market Trends, Drivers, Restraints, and Opportunities:
- Increasing disposable income is driving the demand in the emerging economies.
- Rapid urbanization and Improving lifestyle are positively influencing the market growth.
- Growing consumer health awareness across the globe is expected to propel the growth of the market.
- Increasing consumer demand for advanced residential products is anticipated to positively impact the market growth.
- The outbreak of COVID-19 pandemic has drastically slowdown the manufacturing industry. However, the rising awareness about personal hygiene is propelling the market growth.
Scope of The Smart Air Purifier Market Report
The report on the smart air purifier market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Smart Air Purifier Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016–2021
|
|
Forecast Period
|
2023–2031
|
|
Segmentation
|
Technologies (HEPA Filter, Activated Carbon, and Others), Applications (Residential and Commercial)
|
|
Regional Scope
|
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered
|
Coway Co., Ltd., Dyson Technology Limited, Honeywell International Inc., Koninklijke Philips N.V., Levoit, LG Electronics Inc., Xiaomi Corporation, Sharp Corporation, Unilever PLC, and Winix Inc
|
Smart Air Purifier Market Segment Insights:
HEPA filter segment anticipated to grow at a rapid pace
On the basis of technologies, the market is divided into HEPA filter, activated carbon, and others. The HEPA filter segment is anticipated to account for a major share during the forecast period. HEPA filter is a type of mechanical filter, which usually works by drawing air in a fine mesh, and helps in trapping harmful particles such as pollen, tobacco smoke, and dust mites.
These filters are small, portable, and usually work for a single room. the activated carbon segment is expected to grow at a healthy rate during the forecast period. This filter type are available in granular form of carbon, which helps in absorbing contaminants and allergens.
The pores of activated carbon capture pollutants through adsorption and make it an effective technology for eliminating odour, chemicals, and smoke.
Commercial segment projected to grow at a healthy rate
Based on the applications, the market is segregated into residential and commercial. The commercial segment is projected to expand at a substantial CAGR during forecast period. Commercial spaces exhibit increased risk of airborne disease owing to the presence of a large number of people in confined space. Moreover, commercial buildings adopt smart air purifiers to reduce carbon footprint.
The residential segment expected to exhibit a high CAGR owing to increasing indoor air pollution. The convenience of operating the smart products bodes well for the product adoption in the residential segment.
Smart Air Purifier Market Regional Outlook
North America accounts for a significant market share
On the basis of regions, the market is divided into Asia Pacific, North America, Latin America, Europe and Middle East & Africa. Asia Pacific held a largest market share during forecast period. The state government bodies of China and India have and undertaking number of measures such as graded air quality rating response system and emission reducing converters for automobiles, which is stimulating the demand for smart air purifiers.
The market in North America expected to grow at a healthy rate owing to increasing health consciousness and awareness regarding smart purifiers. Additionally, establishment of large commercial offices and buildings in countries such as the US and Canada have increased the scope of product application in the region.
Segments
Technologies
- HEPA Filter
- Activated Carbon
- Others
Applications
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Major players of the smart air purifier market are Coway Co., Ltd., Dyson Technology Limited, Honeywell International Inc., Koninklijke Philips N.V., Levoit, LG Electronics Inc., Xiaomi Corporation, Sharp Corporation, Unilever PLC, and Winix Inc.,
In March 2021, the spokesperson of Honeywell said that the company is expected to acquire majority stake in Fiplex, a manufacturer of telecommunication products. The company also announced that it has secured USD 476 Million engine production contract for the US Army Chinook Fleet.
Request For Customization
Enquiry Before Buying
Speak With Analyst
