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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Residential Air Purification Equipment market. Market segmentation includes Type (Stand-Alone, In-Duct); Technology (High Efficiency Particulate Air (HEPA), Other Technologies); Product (Dust Collectors, Fume & Smoke Collectors, Other Products).

Find Out More About Regions, Brands, Dominant, Active & Niche Companies Covered in the Report

5 November 6:30 p.m., California- According to the new market research report, the global market for Residential Air Purification Equipment is projected to grow at a CAGR of 6% reach US$13 billion by 2027, driven by the rising concerns among people about the quality of inhaled air. The global Residential Air Purification Equipment market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Stand-Alone, one of the segments analyzed and sized in this study, is forecast to grow at over 6.2% and reach a market size of US$10.2 billion by the end of the analysis period. The United States is forecast to readjust to a 5.1% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$1.4 billion growing at a CAGR of 5.4% over the next couple of years. In addition, over US$221 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Stand-Alone Purification Equipment segment will reach a market size of US$495 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Stand-Alone Purification Equipment segment in this country against this backdrop will grow at a CAGR of 8.3% over the next couple of years to create an addressable market opportunity worth US$2.2 billion by the year 2027.

Residential air purification equipment is gradually transcending its popular perception of being considered as a luxury, non-essential product. The growing clamor over the health risks posed by poor indoor air quality has played an instrumental role in giving this equipment a status of indispensability. Moreover, increase in consumer spending power and investments made in home improvement also contribute to the growing use of air purification equipment. Customer base for these products today spans residential consumers who purchase this equipment under medical prescription, to consumers seeking to improve the health of their indoor environment. The market expansion can be credited to confluence of several factors like aggravating air quality in indoor settings, the onslaught of COVID-19 pandemic and rising investment in smart homes. Residential air purifiers are advanced devices for improving indoor air quality, reducing air pollutants and ventilating homes with clean air by filtering air and eliminating pollutants. In addition to offering clean air for healthy living, these units score high in terms of usability and efficacy. The global market for residential air purifiers is bolstered by increasing population, rising pollution and rapid urbanization, which are necessitating the requirement of quality air in homes. The market growth is further augmented by rising awareness regarding environmental and health implications related to air pollution, favorable policies for air pollution control and monitoring, and growing public/private funding. Moreover, increasing adoption of high-end, faster and safer air purifiers in residential buildings and homes is anticipated to provide an ideal platform for future expansion of the market. On the other hand, the expensive nature of these devices along with technical issues related to monitoring of air quality is expected to impede the market growth.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 5012. Among this pool, 802 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 152 unique participations, a total of 68 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
3M Company
Honeywell International, Inc.
LG Electronics, Inc.
Koninklijke Philips NV
Amway Corporation
Daikin Industries Ltd.
Carrier Corporation
Lennox International, Inc.
Abatement Technologies, Inc.
Coway Co., Ltd.
Blueair AB

Segments Covered in the Report -
Type (Stand-Alone, In-Duct)
Technology (High Efficiency Particulate Air (HEPA), Other Technologies)
Product (Dust Collectors, Fume & Smoke Collectors, Other Products)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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