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The air purification systems market share is expected to increase by USD 6.68 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.75%.
This air purification systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers air purification systems market segmentations by end-user (automotive, construction, industries, healthcare, and others) and geography (APAC, North America, Europe, MEA, and South America). The air purification systems market report also offers information on several market vendors, including 3M Co., Air Products and Chemicals Inc., Daikin Industries Ltd., Honeywell International Inc., Koninklijke Philips NV, LG Electronics Inc., MANN+HUMMEL, Panasonic Corp., Sharp Corp., and Whirlpool Corp. among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing automotive market is notably driving the air purification systems market growth, although factors such as regular maintenance of air purification systems may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the air purification systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Air Purification Systems Market Driver
One of the key factors driving the air purification systems market growth is the growing automotive market. The Air purification system is used for maintaining the indoor air quality of the automotive manufacturing facility, particularly in paint spray booths and the interiors of automobiles. The filtered air is continuously supplied in the paint spray booth and optimizes the quality, safety, and health of the equipment, process, and occupants. The purification system removes harmful contaminants that might be present inside the car (plastic or upholstery), thereby improving the indoor air quality. Therefore, air purification systems are critical in the automobile industry. Furthermore, the rise in population, growing consumer disposable income, and investments in vehicle manufacturing plants are key contributors to the growth of the automotive sector in major countries such as the US, China, and India. Moreover, to meet the rising demand for vehicles, companies are investing in new manufacturing plants. Therefore, such investments for expansion and upgrade of automotive manufacturing plants to meet the growing demand for vehicles is expected to drive the demand for air purification systems.
Key Air Purification Systems Market Trend
Increasing adoption of stand-alone air purification systems is another factor supporting the air purification systems market growth in the forecast period. The rising awareness about indoor air pollution has compelled consumers to choose air purification systems in their HVAC systems or stand-alone purification systems. Furthermore, in most of the developed countries in North America and Europe, ducted HVAC systems are used, which incorporate in-built air filters for cleaning the air. However, in other countries such as India, China, and Indonesia, the adoption of stand-alone air purification is on the rise. Portable/stand-alone air purifiers are very effective at cleaning the air of dust, pollen, or smoke within an enclosed space. Most of the manufacturers offer stand-alone air purification systems as they are efficient in virtually removing all the airborne particles. Moreover, the adoption of stand-alone purifiers increased in countries facing high levels of pollution. Manufacturers expect further sales of air purifiers due to the increasing focus on the rising air pollution in most of the urban cities in APAC countries such as India. Therefore, the rising awareness about the impact of air pollution is likely to influence the demand for stand-alone air purification systems, thereby influencing the global air purification systems market.
Key Air Purification Systems Market Challenge
Regular maintenance of air purification systems will be a major challenge for the air purification systems market growth during the forecast period. Air purification systems require regular maintenance and services to ensure higher efficiency of the equipment. Air filters must be replaced on a regular basis, as clogged and unclean filters block the normal airflow and affect the efficiency of the purification system. When the normal airflow gets obstructed, the air that bypasses the filter carries dirt directly into the evaporator coil and spoils the heat-absorbing capacity of the coil. Furthermore, the maintenance of air purification systems poses another challenge for central air conditioners as the filters are located along the duct. Some types of filters are reusable, whereas others must be replaced, which might add to the expenses. Moreover, filters require more frequent attention if the air conditioners are used on a regular basis, as they are more prone to dust. Therefore, regular maintenance of air purification systems can be a challenge for users due to the high costs involved, which act as an obstacle to the adoption of these systems.
This air purification systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global air purification systems market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the air purification systems market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the air purification systems market encompasses successful business strategies deployed by the key vendors. The air purification systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The air purification systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the air purification systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global electrical components and equipment market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers providers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
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