In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSNovember 4th, 2021: Dyson Group announced that it has launched two new products, namely, Dyson Purifier Humidify + Cool and Dyson Purifier Humidify + Cool Formaldehyde. The two products feature the latest formaldehyde sensing and destruction capabilities with hygienic UV-C humidification technology of Dyson.
April 22nd, 2021: CAREL INDUSTRIES S.p.A. announced that it has expanded its Labin site in Croatia and is expected for completion in the beginning of 2022. The new 5200 m2 plant is mainly focused on manufacturing humidifiers and electric panels, and would support the company’s growth in eastern Europe.
March 9th, 2021: Condair Group announced the launch of a new in-duct evaporative humidifier and cooler called Condair MC. This new humidifier is designed to supply up to 360kg/h of humidity and around 245kW of adiabatic cooling to an air handling unit (AHU).
September 9th, 2019: Mitsubishi Heavy Industries, Ltd. announced that it had progressively launched its lineup of eight “roomiest” humidifiers for sale in the market of Japan
The global air humidifier market is estimated to garner a revenue of USD 1253.1 Million by the end of 2026, by growing at a CAGR of 6.2% over the forecast period, i.e., 2022 – 2026. Moreover, in the year 2021, the market registered a revenue of USD 934.1 Million. The growth of the market can be attributed to increasing infrastructure development in both residential and commercial construction sectors, along with the rising concern for the increasing air pollution worldwide. According to the statistics by the World Health Organization (WHO), 99% of the population worldwide lived in places in the year 2019 where the air quality guidelines levels set by the WHO were not met. Moreover, the statistics also stated that during the same year, more than 90% of the population around the globe lived in areas where PM2.5 concentrations exceeded the 2005 annual WHO air quality guidelines (AQG) of 10 µg/m3.
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Infrastructure development around the globe over the past few years has witnessed enormous growth, backed by rising urbanization and increasing disposable income of the individuals worldwide. Moreover, there has been a rising need for enhancing the quality of the surrounding in the commercial buildings, especially in offices and malls, which is one of the major factors anticipated to drive the demand for air humidifiers. These products are known to increase the durability of paints and wallpapers that are pasted in the interior walls as well as wooden enclosures, especially in areas where the climate is very dry. On the other hand, air humidifiers are used to treat air pollutants, such as dust mites and molds among others. Backed by the increasing concern for air pollution and the rising awareness for different diseases caused due to the declining air quality globally, such as Chronic Obstructive Pulmonary Disease (COPD), dry cough, irritated vocal cord, and others, the demand for air humidifiers is anticipated to grow massively, and in turn, contribute to the growth of the market in the coming years. In the other statistics by the World Health Organization (WHO), in the year 2019, 3.23 Million deaths were caused as a result of COPD, thereby making it the 3rd leading cause of death around the world.
Regionally, the global air humidifier market is segmented into four major regions including Europe, Asia Pacific, Central & South America, and Middle East region. The market in Europe is anticipated to garner the largest revenue of USD 660.6 Million by the end of 2026, up from a revenue of USD 498.1 Million in the year 2021. The growth of the market in the region can primarily be attributed to the presence of numerous manufacturers of air humidifiers, along with the surge in the adoption of these products in hospitals, manufacturing industries, and other homecare facilities. Besides this, the increasing trade of the product from the region is also anticipated to create numerous opportunities for market growth in the coming years. For instance, according to the statistics by the International Trade Center (ITC), the value of exports of air humidifiers in Germany increased from USD 7312247 Thousand in the year 2012 to USD 10270393 Thousand in the year 2019. The country was also known to be the largest exporter of such products around the globe. On the other hand, the increasing concern for air pollution in the region is also anticipated to drive the growth of the market in the coming years. According to the statistics by Eurostat, in the year 2019, non-methane volatile organic compounds (NMVOC) and nitrogen oxides (NOx) were the largest emitting air pollutant in the European Union, thereby registering 6408660.0 Tonnes and 6140700.0 Tonnes respectively.
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The market in the region is further segmented by country into Germany, France, United Kingdom, Italy, and the Rest of Europe. The market in the United Kingdom is anticipated to garner the second-largest revenue of USD 171.8 Million by the end of 2026, up from a revenue of USD 123.3 Million in the year 2021.
The global air humidifier market is segmented by product type into warm-mist humidifiers, ultrasonic humidifiers, cool-mist humidifiers, bypass, fan-powered, and steam. Out of these, the cool-mist humidifiers segment is anticipated to garner the largest revenue of USD 462.0 Million by the end of 2026, up from a revenue of USD 348.2 Million in the year 2021. By mounting type, the market is segmented into portable air humidifier and fixed air humidifier, out of which, the portable air humidifier segment is anticipated to garner the largest revenue by the end of 2026 and also grow with the highest CAGR of 6.3% during the forecast period. By distribution channel, the market is segmented into online and offline. Out of these, the offline segment is anticipated to garner the largest revenue by the end of 2026, while the online segment is predicted to grow with the highest CAGR of 7.0% during the forecast period. By end-user, the market is segmented into residential, commercial, and industrial. Out of these, the residential segment is projected to attain the largest revenue of USD 709.6 Million by the end of 2026, up from a revenue of USD 521.2 Million in the year 2021.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global air humidifier market that are included in our report are Honeywell International Inc., Newell Brands Inc., BONECO AG, Dyson Group, Mitsubishi Heavy Industries, Ltd., Condair Group, CAREL INDUSTRIES S.p.A., Koninklijke Philips N.V., Armstrong International Inc., Guardian Technologies, Aprilaire, and others.
FREQUENTLY ASKED QUESTIONS
The increasing infrastructure development across commercial and residential construction sectors, along with the growing awareness among consumers regarding the ill effects of air pollution, are some of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 6.2% over the forecast period, i.e., 2022 – 2026.
The high operational cost of the product, and the concern for the humming sound of the device are estimated to hamper the market growth.
The market in Europe is anticipated to garner the largest revenue of USD 660.6 Million by the end of 2026 and provide more business opportunities.
The major players in the market are Honeywell International Inc., Newell Brands Inc., BONECO AG, Dyson Group, Mitsubishi Heavy Industries, Ltd., Condair Group, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, mounting type, distribution channel, end-user, and by region.
The cool-mist humidifiers segment is anticipated to garner the largest revenue of USD 462.0 Million by the end of 2026 and display significant growth opportunities.
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