LONDON–(BUSINESS WIRE)–The new Residential Portable Air Purifier Market Research from Technavio indicates Negative and Inferior growth in the short term as the business impact of COVID-19 spreads.
“One of the primary growth drivers for this market is the Demand for Energy-efficient Air Purifiers,” says a senior analyst for the Consumer Discretionary industry at Technavio. Owing to the rise in the electricity cost, consumers are concerned about energy consumption by residential air purifiers. Room air purifier consumes high energy in the process of minimizing humidity, removing external pollution, enhancing air quality, and improving the comfort level. These factors have compelled customers to look for energy-efficient residential air purifiers. As the markets recover Technavio expects the residential portable air purifier market size to grow by USD 1.90 billion during the period 2020-2024.
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Residential Portable Air Purifier Segment Highlights for 2020
- The residential portable air purifier market is expected to post a year-over-year growth rate of 3.27%.
- HEPA technology is gaining traction in the global residential portable air purifier market. It is largely used in residential air purifiers for air filtration.
- The technology helps in removing the tiniest pollutant particles in the air. It is highly reliable and is efficient in removing airborne pollutants, such as volatile organic compounds (VOCs), viruses, bacteria, and mold.
- The residential portable air purifier market share growth by the HEPA segment will be significant during the forecast period.
Regional Analysis
- 41% of the growth will originate from the North America region.
- Factors such as the availability of residential portable air purifiers with HEPA filtration technology and the rising health consciousness among consumers will significantly drive residential portable air purifier market growth in this region over the forecast period.
- The US is a key market for residential portable air purifiers in North America. Market growth in this region will be slower than the growth of the market in APAC and MEA.
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Notes:
- The residential portable air purifier market size is expected to accelerate at a CAGR of over 5% during the forecast period.
- The residential portable air purifier market is segmented by technology (HEPA, electrostatic precipitators, ionizers and ozone generators, and others), product (dust collectors, fume and smoke collectors, and others), distribution channel (offline and online), and geography (North America, APAC, Europe, South America, and MEA).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Daikin Industries Ltd., Dyson Ltd., Honeywell International Inc., Koninklijke Philips NV, LG Electronics Inc., Newell Brands Inc., Panasonic Corp., Sharp Corp., Unilever Group, and Whirlpool Corp.
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