Air Purifier Market To Hit Value .97 Billion By 2028 |Grand View Research,IncPosted by Mrudula Anil Karmarkar on March 11th, 2022 The global air purifier market size is expected to reach USD 25.97 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.1% from 2022 to 2030. The market is primarily driven by increasing air pollution levels, coupled with the outbreak of the COVID-19 pandemic and the rising awareness pertaining to the benefits of air purifiers. Air purifiers assist in eliminating various health hazards caused by poor air quality by removing contaminants, including dust, smoke, and pollen. In addition, these products aid people suffering from asthma, airborne allergies, and other respiratory conditions. Thus, increasing health awareness among consumers is expected to drive the product demand over the forecast period. Lockdown measures to curb the spread of COVID-19 and the stay-at-home and work-from-home norms have boosted the demand for air purifiers in residential applications. Furthermore, the demand for air purifiers increased in healthcare and other commercial facilities amidst the pandemic owing to their ability to limit the spread of infectious diseases. New product developments and technological advancements amid the COVID-19 pandemic are anticipated to augment the market growth. For instance, in September 2020, Aurabeat Technology Limited, a Hong Kong-based company, introduced Aurabeat AG+ Silver Ion Plasma Sterilization Air Purifier, which can eliminate more than 99.9% of COVID-19 within 30 minutes. Wildfires and stubble burning that are increasingly found in the U.S., Australia, and India are some of the key reasons for causing air pollution. The smoke has several health implications such as eye and respiratory tract infection, lung infection, bronchitis, and heart failure. This has prompted consumers to buy air purifiers and is likely to augment the market growth over the forecast period. The pandemic provided an opportunity for companies with higher cashflows to acquire air purifier companies resulting in increased activity in the market. For instance, in November 2021, iRobot Corporation acquired Aeris Cleantec AG in a USD 72 Million all-cash deal in a bid to strengthen its portfolio of intelligent home innovation solutions. The market is expected to be driven by the rising airborne diseases and increasing pollution levels in urban areas. Moreover, growing health consciousness, coupled with the improving standard of living and rising disposable income, is expected to boost the market growth. The lockdown measures implemented by the governments of various countries, in light of the onset of the COVID-19 pandemic in 2020, have resulted in boosting the sales of home appliances such as air purifiers, cleaning appliances, kitchen appliances, and water filtration devices. Rising awareness regarding healthy living has contributed to the increased sales of air purifiers across the globe. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/air-purifier-market/request/rs1 Air Purifier Market Report Highlights
List of Key Players of Air Purifier Market
Like it? Share it! More by this author |