Portable Air Purifier Market Segmentation by Type (Dust Collectors, Fume & Smoke Collectors, and Others); By Technology (HEPA, Thermodynamic Sterilization System, UV Germicidal, Ionizer Purifiers, and Activated Carbon Filtration); by Distribution Channel (Online, and Offline) by End-User (Residential, Commercial, and Industrial)– Global Demand Analysis & Opportunity Outlook 2030
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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. Purchasing 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.
· November 20, 2019: Blue Star Limited to launch new room air conditioners with in-built air purifiers.
The global portable air purifier market is estimated to garner a sizeable revenue by growing at a CAGR of ~ 14% over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the growing demand for portable air purifiers in small spaces, backed by increasing health awareness amongst the masses regarding air quality index. Moreover, portable air purifiers can be easily used in homes, as they are handy and manageable. In addition to this, increasing level of pollution globally is estimated to boost the demand for air purifiers. According to the data by the World Health Organization (WHO), every year, over 7 million deaths are caused by air pollution. Moreover, 9 out of 10 people in the world are breathing dangerous air.
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The global portable air purifier market is segmented by type into dust collectors, fume & smoke collectors, and others, out of which, the fume & smoke collector segment is anticipated to hold the notable share in the market during the forecast period on account of increasing pollution level from vehicular emissions. Moreover, the increasing health awareness among people is further projected to boost the market growth. According to the WHO Global Ambient Air Quality Database 2018, around 4.2 million deaths take place every year as a result of exposure to outdoor air pollution. On the basis of distribution channel, the market is bifurcated into online and offline, out of which, the offline segment is estimated to gain a significant share over the forecast period, on the back of ease of availability and customer satisfaction.
Regionally, the global portable air purifier market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner largest share over the forecast period on the back of increasing awareness among the masses, along with high adoption of air purifier in industries. The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period owing to the high pollution level in the developing countries, and rising government initiatives to curb pollution. India, Bangladesh, and China are the most polluted countries in the world. Further, the air purifier market in India is anticipated to display significant growth opportunities, backed by the rising concerns for air pollution in its states, especially in Northern India.
The global portable air purifier market is further classified on the basis of region as follows:
Our in-depth analysis of the global portable air purifier market includes the following segments:
Ans: Increasing awareness for air quality among the masses, along with convenience of use are major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of ~14% over the forecast period, i.e., 2022-2030.
Ans: High cost of raw materials is one of the factors estimated to hamper the market growth.
Ans: The market in Asia Pacific is estimated to provide most growth opportunities owing to the high pollution level in the low-income nations, and growing government initiatives in the region.
Ans: The major players in the market are Blueair AB, Sunbeam Products Inc., Whirlpool Corporation, Xiaomi Corporation, Coway Co. Ltd., Americair Corporation, and others.
Ans: 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.
Ans: The market is segmented by type, technology, distribution channel, end-user, and by region.
Ans: The offline segment is anticipated to hold largest market share over the forecast period owing to the easy availability of these purifiers in multi-brand stores and supermarkets.
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