The global smart air purifier market size is projected to be worth around $10.94 billion by 2030 from $5.32 billion in 2020, growing a CAGR of 11.6% from 2021 to 2030.
Smart air purifier is an upgraded version of traditional air purifier, which is used for automatic air purification across different end users. It is connected with wireless networks such as Wi-Fi and Bluetooth, and can be remotely operated by using an app on smartphones.
The major benefit of a smart air purifier is that users can track and control indoor air quality and change basic settings through smartphones. Moreover, increase in awareness regarding adverse effects of pollution on health is encouraging various electronics companies to develop advanced air purifiers. Moreover, rise in need to remove fine airborne particles and germs in commercial spaces, offices, and homes, including living rooms, bedrooms, kitchens, and bathrooms drive demand for smart air purifiers across the globe.
Smart air purifiers are widely used in urban areas for residential applications. Increase in emission of harmful particulate matter due to rapid urbanization and increased construction activities has enforced people and organizations to seek for means to mitigate the impact of indoor and outdoor pollution on humans. Increase in production of vehicles and rapid urbanization have caused pollution to reach alarming levels.
Growth Factors: Rising efforts to eradicate airborne diseases and to maintain clean and healthy environment are anticipated to drive the growth. Rise in pollution levels across the world is a major factor driving the demand for anti-pollution products including smart air purifiers.
On the other hand, emission of ozone & other pollutants from smart air purifiers and high set-up costs, as well as periodic maintenance, hamper the growth to some extent. However, rising demand in emerging economies and huge investments in R&D are expected to create multiple opportunities for the key players in the market.
Commercial application is projected to expand at a CAGR of 13% from 2021 to 2030. The commercial spaces exhibit increased risk of airborne diseases owing to the presence of a large number of people in a room. Commercial buildings are a major focus area when it comes to reducing carbon footprint. Governments have set various regulations on construction of offices and commercial buildings in terms of design and operations. For instance, the United States Green Building Council mandates Leadership in Energy and Environmental Design (LEED) certification which promotes energy conservation and environmental responsibility in building construction. This program focuses on air handling units to control building temperature, ventilation, and controlling airborne contaminants. This factor is projected to contribute to high demand in commercial applications.
Residential application witnesses the highest share in the global market at 67.3% in 2020, owing to the increasing indoor air pollution. Increasing prevalence of health issues caused by airborne diseases such as asthma, allergies, and other respiratory problems encourage consumers to invest in the product. Moreover, the convenience of operating the smart products bodes well for the product adoption. Installation of these products in residential areas helps tracking and controlling the air quality to eradicate smoke fumes, dust particles, and odor.
Based on product type, the dust collectors segment accounted for nearly two-thirds of the total market revenue in 2017 and is expected to dominate during the forecast period. The same segment is also expected to grow at the highest CAGR of 13.2% till 2030.
Based on technique, the high-efficiency particulate air (HEPA) segment contributed to more than two-fifths of the total market share in 2020 and is anticipated to lead the trail throughout the study period. The same segment is also projected to cite the highest CAGR of 16.5% during the estimated period.
Asia Pacific held the largest market share of 42% in 2020. Increasing pollution levels in countries such as China and India is anticipated to fuel the regional product demand. According to the WHO, in 2015, around 50% of global deaths caused by air pollution were registered in China and India. Moreover, 13 out of 20 most polluted cities in the world are located in India. According to a 2019 Greenpeace report, air pollution causes 1.2 million premature deaths in India every year. The government of China and India have undertaken a number of measures such as graded air quality rating response system and emission reducing converters for automobiles. This factor is anticipated to drive the regional demand during the forecast period.
North America witnesses growth on account of increasing health consciousness and awareness regarding smart purifiers. Stringent government regulations to improve the air quality standards, including the Clean Air Act established by the U.S. Environmental Protection Agency (EPA) in 1970 have been associated with establishing national air quality standards. In addition, establishment of large commercial offices and buildings in countries such as U.S. and Canada have increased the scope of product application in the region.
Key companies profiled in the smart air purifier market report include Coway Co., Ltd., Dyson Technology Limited, Honeywell International Inc., Levoit, LG Electronics Inc., Xiaomi Corporation, Koninklijke Philips N.V., Sharp Corporation, Unilever PLC (Blueair AB), Winix Inc.. The product launch is the key strategy being adopted by the key players to remain competitive in the market.
Global Smart Air Purifier Market Segments
By Product Type
The main objective of this report is to define, describe, and forecast the global market by types, application, manufacturers, and regions. The report provides detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. The report aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the global market. The report also attempts to forecast the market size of the 5 main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It strategically profiles the key market players and comprehensively analyzes their core competencies. It also tracks and analyzes the competitive developments, such as joint ventures, mergers and acquisitions, new developments, and Research and Development (R&D) activities, in market.
Major highlights of report:
• Figures related to sales volume, market remuneration, and segmental shares
• Featuring market dynamics
• Growth prospects and expansion graph
• PROCON study of direct & indirect sales channels
• Profiles of prominent traders, dealer, and distributors in the industry
Geographical landscape: North America, Europe, Asia-Pacific, South America, Middle East and Africa
• Industry forecasts based on region and at country level
• Data about sales volume recorded, industry share held, and profit margins amassed
• Overall remuneration and estimated growth rate for each regional market
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the research department explosive market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the research department explosive market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Research department explosive market.
Market Segments: This part of the report discusses about product, application and other segments of the research department explosive market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.