Global Smart Air Purifiers Market to Reach $12.7 Billion by 2026

SAN FRANCISCO, Aug. 10, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Smart Air Purifiers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: May 2021
Executive Pool: 2259
Companies: 86 - Players covered include Alen Corporation; Americair Corporation; Blueair, Inc.; COWAYCO.,LTD; Dyson Ltd.; Honeywell International Inc; IQAir North America Inc.; Koninklijke Philips N.V; LG Electronics; Samsung Electronics CAo. Ltd.; Sharp Electronics Corporation; Sunbeam Products, Inc; Whirlpool Corporation; Winix Inc.; Xiaomi Corporation and Others.
Coverage: All major geographies and key segments
Segments: Type (Dust Collectors, Fume & Smoke Collectors, Other Types); Technique (High-Efficiency Particulate Air (HEPA), Activated Carbon Filtration, Ionizer Purifiers, Other Techniques); End-Use (Residential, Commercial, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Latin America; Middle East; Africa.

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ABSTRACT-

Global Smart Air Purifiers Market to Reach $12.7 Billion by 2026
Clean air is an essential requirement for healthy living. A prime reason underlying the growing magnitude of the problem of poor Indoor Air Quality (IAQ) is the lack of proper ventilation in most buildings, a direct fallout of the hitherto focus exerted on constructing tighter, and more energy efficient buildings. Indoor Air Quality (IAQ) refers to the physical, biological, and chemical characteristics of indoor air affecting the health or comfort of people residing in a place. With poor IAQ being singled out as one among the major factors responsible for growing incidences of respiratory allergies and diseases, it is therefore of little surprise that indoor air quality now ranks high among the priority list of consumers.

In contrast to the traditional air purifiers, which just filter the air, smart air purifiers can help in providing real-time information about the air quality that it is filtering. Typical air purifiers work either by the process of continuous or automatic air filtering. In the continuous air filtering method, the air purifier, once activated, continuously cleans the air at a specified speed, irrespective of whether the air inside the room is clean or dirty. Automatic air filtering method leverages various sensors for tracking the presence of impurities in the air. In case of detecting these contaminants at specific levels, the unit automatically switches on and remains activated until the sensors detect that the impurities have been eliminated from the air. Smart air purifiers are advancements of automatic air purification method, which along with monitoring the air quality in real-time, can also use an in-built scheduler for setting its operating time, thereby saving on energy. Smart air purifiers are also known in the market by various other names, including smart air filters, wireless air purifiers, Wi-Fi-enabled air purifiers, and Bluetooth air purifiers.

Amid the COVID-19 crisis, the global market for Smart Air Purifiers estimated at US$6.8 Billion in the year 2020, is projected to reach a revised size of US$12.7 Billion by 2026, growing at a CAGR of 10.5% over the analysis period. Dust Collectors, one of the segments analyzed in the report, is projected to grow at a 11.2% CAGR to reach US$9.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Fume & Smoke Collectors segment is readjusted to a revised 9.7% CAGR for the next 7-year period. This segment currently accounts for a 24.9% share of the global Smart Air Purifiers market.

The U.S. Market is Estimated at $2.2 Billion in 2021, While China is Forecast to Reach $2.5 Billion by 2026
The Smart Air Purifiers market in the U.S. is estimated at US$2.2 Billion in the year 2021. The country currently accounts for a 28.37% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.5 Billion in the year 2026 trailing a CAGR of 12.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.9% and 9.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.7% CAGR while Rest of European market (as defined in the study) will reach US$2.7 Billion by the close of the analysis.

The market is forecast to register significant growth, credited to rising air pollution and associated health effects. A primary factor driving growth in the air purification equipment market is the increasing consumer awareness about pollution and the number of respiratory and other diseases that it can cause. Though high costs of installing these systems is presently a growth deterrent, technology advancements in the coming years are expected to open up new opportunities. The pressing requirement to remove germs and fine airborne particles in residential, commercial and industrial settings is augmenting the demand for smart air purifiers. In addition, rising awareness regarding health effects and consequences of air pollution is driving various companies to develop next-generation air purifiers. The market growth is also facilitated by increasing adoption of connected home automation solutions that rely on the Internet of Things for remotely controlling and monitoring home appliances. Built around sophisticated technology, smart air purifiers support certain degree of automation. Innovative features such as motion sensors and user friendly designs with simple programming platforms, along with the ability to control from different locations inside the home through smart connectivity is expected to drive robust demand for smart air purifiers. Some of the latest models also leverage artificial intelligence for predicting user preferences on the basis of past data. These advanced versions with innovative features are likely to create a fertile ground for overall expansion of the global smart air purifiers market.

By Technique, High-Efficiency Particulate Air (HEPA) Segment to Reach $10.4 Billion by 2026
Among various types of air filters, High-Efficiency Particulate Air (HEPA) filters, which are capable of trapping air pollutant particles of sizes as small as 0.3 microns in complex web fibers to purify the air, extend a reliable tool for filtering the air to contain the novel corona virus. HEPA filters can seamlessly capture more than 99.9% of nanoparticles, which are many times smaller than the coronavirus, in just one pass and the capability makes them most sought after in COVID-19 related air purification programs in residential and commercial sites. Since coronavirus measures 0.06 to 0.14 microns in diameter, HEPA filters are claimed to eliminate the airborne virus, thereby enabling a virus free indoor environment. HEPA filters account for bigger revenue share in the air filters market, because of high adoption rate in the pharmaceutical and healthcare sectors. The current COVID-19 pandemic has further amplified the demand for HEPA filters, with some vendors reporting 10x spike in demand as compared to previous year. Besides HEPA, UV light filters represent another promising technology for containing the airborne novel corona virus. However, UV light filters are mostly used in combination along with other filtration technologies such as HEPA, and their use as standalone system fails to deliver the desired results in curbing the spread of virus

Global market for High-Efficiency Particulate Air (HEPA) (Technique) segment is estimated at US$5.4 Billion in 2020, and is projected to reach US$10.4 Billion by 2026 reflecting a compounded annual growth rate of 10.9% over the analysis period. Europe constitutes the largest regional market for High-Efficiency Particulate Air (HEPA) segment, accounting for 29.1% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 12.7% over the analysis period, to reach US$2.3 Billion by the close of the analysis period. More

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SOURCE Global Industry Analysts, Inc.