Technavio Announces the Publication of its Research Report Global Residential Air Purifier Market 2016-2020
Technavio recognizes the following companies as the key players in the report title minus years: 3M, Daikin Industries, Honeywell, Philips, and Sharp.
Other Prominent Vendors in the market are: Airgle, Alen, AllerAir Industries, Austin Air, Blueair, EcoQuest International, Fellowes, Guardian Technologies, Hamilton Beach Brands, Homeimage, Hoover, IQAir, O-Ion Technologies, Oreck, Rabbit Air, Sunbeam Products, Whirlpool, and Winix.
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Commenting on the report, an analyst from Technavios team said: The latest trend gaining momentum in the market is growing demand for energy-efficient air purifiers. Consumers are becoming increasingly concerned about the energy consumed by air purifiers owing to an increase in energy costs. Air purifiers are developed to reduce humidity, eliminate external pollution, clean air, and enhance comfort and, hence, they consume more electricity. This has led to an increase in the demand for energy-efficient air purifiers from consumers.
According to the report, one of the major drivers for this market is growing pollution level and increased concerns over indoor air quality. Airborne contaminants occur as aerosols or in gaseous form (vapors and gases). An aerosol is defined as a complex of particles suspended in a gaseous medium, usually air in the context of indoor hygiene. Aerosols may exist in the form of airborne sprays, dust, smokes, mists, and fumes. All these forms are important in household environment as they relate to a wide range of lung and respirational diseases.
Further, the report states that one of the major factors hindering the growth of this market is decreasing profit margin and increasing R&D investments. The global residential air purifier market reached the mature stage in developed markets such as North America and Western Europe with many players. Vendors in the market are experiencing a decline in their profit margins because of an increase in competition and the price of raw materials. In addition, high competition has become a threat for small players in the market since they are not able to withstand the price strategies devised by the major players.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Residential Air Purifier
Air purifiers, also known as air cleaners, are devices that have the ability to absorb, decompose, or transform different air pollutants such as allergens, bacteria, decoration pollution PM2.5 (particulate matter having a size less than 2.5 microns), dust, formaldehyde, odors, pollen, and others. An air filter is a device used to purify the air of unwanted waste materials, such as dust and microbes. Most regular types of air filters usually consist of a sealant, filtering material, faceguard, frame, and a gasket.
Technavios analysts forecast the global residential air purifier market to grow at a CAGR of 6.05% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global residential air purifier market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail and direct-to-consumer (D2C) sales of residential air purifiers to individual customers (residential) globally.
The market is divided into the following segments based on geography:
Technavio’s report, Global Residential Air Purifier Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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