Dehumidifier IndustryGlobal Business Growth, Demand, Trends, Key Players

Posted by Sakshi Mishra on March 6th, 2020

Competition in the global dehumidifier market is stiff with leading players adopting multi-pronged strategies to surge ahead of their competitors. Some such key players are De’Longhi Appliances S.r.I, Whirlpool Corporation, Thermo-Stor LLC, Haier Group, Comfort Aire (Heat Controller), LG Electronics Inc., Honeywell International, Inc., Electrolux (Frigidaire), Sunpentown International, Inc., and General Filters, Inc.
To gain an edge over their rivals they are seen trying to integrate dehumidification solutions with the existing HVAC solutions. Take for example Honeywell Inc. It unveiled TrueDRY Dehumidification Systems that can be combined with HVAC system to reduce costs. They are also seen trying to up sales through competitive pricing.
As per a report by Transparency Market Research, the global market for dehumidifiers rising at a 6.4% CAGR over the course of the forecast period between 2014 and 2020, will likely become worth US$ 2,966.6 mn in 2020.
The different types of dehumidifiers available in the market these days can be segmented on the basis of technology into refrigerant dehumidifiers (ventilating dehumidifier), heat pumps, and chemical absorbent dehumidifier (desiccant dehumidifier). Among them, the desiccant dehumidifiers are seeing most of the demand in the market. From a geographical standpoint, North America leads the market mainly on account of the surging construction activities in the region. Another factor boosting the market in the region is the usage of dehumidifiers for preserving the quality of food and protecting inventory from moisture in hotels and restaurants.
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Surging Construction Activities Stoke Market
Dehumidifiers are devices that remove excess moisture to maintain requisite humidity in a particular place. Adds the lead analyst of the report, “Dehumidifiers keep iron bars, iron rods, and cement free of moisture. They are also applied in drying of wall or slab in construction industry thereby reducing the project completion time. Surging construction industry in emerging nations of Asia Pacific and the Rest of the World is driving demand in the dehumidifiers market.”
Dehumidifiers find applications in various areas in commercial, industrial, and residential sectors. At present the industrial and commercial segments are mainly serving to drive demand in the market. Further, rising awareness about health and strict rules framed by governments of various nations pertaining to global warming and controlling wastage of food is also fueling the market.
Technical Glitches Resulting in Product Recalls Deals Blow to Market
One factor that has served to dampen growth in the market, on the other hand, is the technical issues with dehumidifiers often leading to product recalls. However, various regulations framed by different government and independent bodies pertaining to better indoor air quality will likely open up new growth avenues for players. One of those is the set by American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE).
 

Sakshi Mishra

About the Author

Sakshi Mishra
Joined: July 22nd, 2019
Articles Posted: 530

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