Residential Air Purifiers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The residential air purifier market is expected to register a CAGR of approximately 5.38 % during the forecast period of 2022 - 2027, reaching a market size of USD 5.36 billion in 2027 from USD 3.71 billion in 2020. The outbreak of COVID-19 increased the popularity of air purifiers significantly, as air purifiers and HVAC filters are designed to filter pollutants or contaminants out of the air that passes through them. Due to the COVID-19 pandemic, stand-alone air purifiers are adopted by consumers for clean and virus-free air, which is likely to boost the global air purifier market. With increasing sales of air purifiers, companies are launching new products. For instance, in July 2020, VironAire announced two affordable HEPA technology-based hospitals medical-grade air cleaners for hospitals, businesses, and homes. The residential air purifiers market is being driven by the high pollution levels, particularly in industrial countries in the Asia-Pacific region, and the increasing awareness about health issues associated with air pollution. With the growing population in urban areas where air pollution is more intense, air purifiers are likely to grow. However, in the countries where the air purifiers' standards do not exist, the consumers who opt for ineffective non-standard air purifiers feel cheated, making the air purifiers unpopular in those countries, thus, restraining the market.

Key Highlights

• The high-efficiency particulate air (HEPA) filtration technology dominated the market in 2021, owing to its effectiveness in removing particulate matter. Also, the technology is becoming more readily available for use in home central air systems.
• With increasing pollution and deteriorating Air Quality Index in many countries, like India, China, and others, governments and organizations, like WHO, are formulating policies and steps to create significant market opportunities.
• Asia-Pacific dominated the market in 2021, with the most demand from countries like China, India, Japan, and South Korea.

Key Market Trends

High-efficiency Particulate Air (HEPA) Filtration Technology to Dominate the Market

• In 2021, HEPA-based air purifiers occupied more than half of the total residential air purifier sales by revenue since they removed particulate matter (PM 2.5 and PM 10) effectively. HEPA filters capture large airborne particles, such as dust, pollen, mold spores, animal dander, and particles containing dust mites and cockroach allergens.
• HEPA filters are a type of extended surface filter with a larger surface area and higher efficiencies for removing larger and smaller airborne particles. Moreover, these air filters remove respirable particles more efficiently than pleated filters.
• The two most common standards required for HEPA air purifiers include the capability to remove particles, i.e., 99.95% (European Standard) or 99.97% (ASME standard), which have a size greater than or equal to 0.3 micrometers.
• In 2021, high-efficiency particulate air (HEPA) filters accounted for more than 80.0% of the market. They are expected to continue their domination of the market in the coming years.
• Hence, HEPA filter-based air purifiers are expected to witness significant demand from the residential and commercial sectors during the forecast period.

Asia-Pacific to Dominate the Market

• Asia-Pacific dominated the market in 2021, and it is expected to continue its dominance in the forecast period. On a country level, China is the largest market for residential air purifiers. The market in China is dominated by international brands, and its market share far exceeds that of domestic brand products.
• Rapid industrialization and urbanization are leading to high pollution levels in major cities across China and India. To tackle the growing concern, governments are taking necessary steps. In China, the Ministry of Environmental Protection imposed stringent anti-pollution targets on 28 cities around Beijing, thus, increasing the number of air purifier installations in most residential, commercial, and industrial buildings across these cities.
• The Chinese air purifier market is significantly less penetrated, although it is expected to grow at a significant rate. In July 2021, Olansi, a leading manufacturer of eco-friendly home appliances, launched its latest selection of air purifiers that are designed specifically for large indoor spaces. The company’s products include smart air purifiers, PM 1.0 air purifiers, PM 2.5 air purifiers, desktop air purifiers, and small air purifiers. Such innovative technology inventions are expected to aid the growth of the market in the coming years.
• Many Asian countries are yet to develop comprehensive standards for air purifiers. For example, in India, where many metropolitan cities record air pollution levels far higher than acceptable limits, no clean air purifier standards exist. Also, globally, the Air Quality Index (AQI) of 20 is considered good, but in India, an AQI of 50 is deemed safe.
• Therefore, in the countries where the comprehensive standards for residential air purifiers do not exist, the market is being flooded with cheap non-standard air purifiers, which is expected to make the market difficult for better quality products. However, the market is expected to grow significantly in the coming years.

Competitive Landscape

The residential air purifier market is fragmented due to the large number of companies operating in the industry. The key players in this market include Daikin Industries Ltd, Sharp Corporation, Honeywell International Inc., LG Electronics Inc., and Dyson Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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