Air Treatment Market Size, Share and Forecast 2028
Posted by mahesh on October 14th, 2022
According to our latest market study on “Air Treatment Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, and Application,” the market was valued at US$ 8,299.93 million in 2021 and is projected to reach US$ 11,041.19 million by 2028; it is expected to grow at a CAGR of 4.2% from 2021 to 2028.
The adoption of air treatment solutions has increased significantly in recent years, and this trend is likely to continue during the forecast period. Rapidly changing customer expectations and behavior, as well as preference for automated air treatment devices, further boost the demand for air treatment products, such as air purifiers, air conditioners, and humidifiers, globally. To control the spread of COVID-19, the stay-at-home mandates and work-from-home policies have propelled the demand for air purifiers. Moreover, air purifiers are in high demand in hospitals, universities, and government facilities. Changing lifestyle preferences, decreasing indoor air quality, rising health concerns, and growing consumer knowledge are among the major factors driving the market for air purifiers.
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The global air treatment market is dominated by major players that collectively account for a huge share of the overall market. These companies are strategically focused on the introduction of innovative, high-efficiency products, as well as acquisition and merger activities. Air pollution is a major cause of morbidity and mortality worldwide. China is the world's fastest-growing and greatest developing country, and it reports one of the highest air pollution-related mortality rates in the world due to the worsening air pollution levels. Furthermore, in 2019, ambient particulate matter pollution was ranked as the fourth-leading cause of the loss of years of life among people in China. As a result, the necessity for treatment of air has been a key focus of governments globally, contributing to the expansion of air treatment market. Thus, growing incidents of chronic health issues owing to air pollution is the key factor driving the market growth over the forecast period.
Wearable technology is expected to transform the process of air purification and pollutant removal. Companies are working on unveiling wearable air purifiers that resemble a broadcaster's headset. These gadgets will have a small air purifier that will cover the wearer's mouth and could be supported by various technologies, such as activated carbon or HEPA air filters. With continuous advancements in technologies, the incorporation of UV light sources to kill mold, airborne germs, and viruses, in air purifiers are expected in the future. Wearable air purifiers have the potential to become a standard tool in hospitals and clinics, enhancing convenience while simultaneously ensuring the safety of patients and staff. On the other hand, companies in the air treatment market are likely to present enormous air purifiers for use in large buildings in the coming years. According to Tree Hugger, a 100-meter-tall purifying tower may be found in Xian, China. This air cleaner is thought to cover an area of more than 10 km2 for lowering air pollutants emitted into the atmosphere.
The List of Companies
Impact of COVID-19 Pandemic
The COVID-19 outbreak adversely impacted the world economy during its peak in 2020 and continues to shatter the economies and industries of several countries. Until the outbreak of COVID-19, the air treatment industry was experiencing substantial growth. However, the outbreak led to a notable decline in the production activities of various industries deploying the air treatment solutions. Several containment measures, such as lockdowns, business shutdowns, and trade restrictions led to a negative impact on the production and supply chain of air treatment solutions manufacturers till the second half of 2020 and during the second wave in 2021.
As industrial activities resumed in the last quarter of 2020, the market players are experiencing steady growth in demand from end-users of fixed-base operators. Moreover, the huge requirement of air treatment solutions in essential industries, such as pharmaceuticals, food and beverage, oil and gas, chemicals, and other vital industries has created a stable demand for air treatment products across the globe. Notably, several air treatment solutions manufacturers, such as Ingersoll Rand, witnessed a surge in the total revenue generated in the financial year 2020. Furthermore, the COVID-19 pandemic invoked a rising need for high-quality air filtration systems for industrial, non-industrial, and residential applications, as the clients require better air quality to avoid infections. Therefore, although the global air treatment market plummeted initially due to the adverse impact of the COVID-19 pandemic and the related containment measures; it is expected to recover owing to the increasing requirement of high-quality air treatment systems, such as filters and dryers, across essential industries such as pharmaceuticals and energy.
Key Findings of Study:
The air treatment market is segmented on the basis of type, application, and geography. Based on type, the market is segmented into dryers, industrial filters, specialty filters, and condensate management. In 2021, the general industrial segment led the market and accounted for the largest market share. Based on application, the global air treatment market is segmented into the general industry, food & beverages, pharmaceutical, oil & gas, chemical and petrochemical, and mining. In 2021, the pharmaceutical segment led the market and accounted for the largest market share. By region, the air treatment market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for a significant share of the air treatment market.
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About the Authormahesh
Joined: September 20th, 2022
Articles Posted: 71
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