Stringent Government Regulations For Environment Protection Has Anticipated To Drive Air Purification System Market Growth
Global Air Purification System Market: Key Highlights
- According to the new market research report “Air Purification System Market by Type (Ultraviolet, High-efficiency Particulate Air (HEPA), Activated Carbon, Ionic, Others), by product type (Vehicle Exhaust, Dust Collector, Fire Exhaust, Fume & Smoke Collector, Mist Eliminator, Other), by End-User (Industrial, Residential), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global air purification system market is estimated to reach USD 33.3 Billion by 2027 at a CAGR of around 6.3% during the review period.
- Increasing infrastructure and industrial activities has expected to surge the demand for Product
- Growing concerns about poor indoor air quality in school, buildings, hospitals, complexes, and others may propel the market growth
- High-Efficiency Particular Air (HEPA) filter is commonly used to improve indoor air quality as it removes around 99.97% of harmful bacteria from the air
- Release of excess amount of ions and Ozon gas from air purifiers in small amount may be harmful, this may hinder the growth of product market
Global Air Purification System Market: Key Market Dynamics
- Increasing emission of carbon dioxide is causing a health risk such as asthma, cancer, and other cardiovascular & respiratory diseases further increasing the growth of product market
- Stringent government regulation imposed for environmental protection from smoke released from industrial and automobiles will boost the demand for air purification system market
- High maintenance cost associated with periodically changing filters may hinder the growth of product market
Global Air Purification System Market: Regional Overview
- North America
In North America, the air purification system market is expected to hold a significant share during the forecasted period. Some of the factors contributing to the growth of the product market are high per capita income, technological advancement, awareness amongst population, high-quality lifestyle adopted by people, and others. Additionally, stringent regulations imposed by government bodies such as the Clean Air Act and Environment Protection Agency is also expected to surge the demand for product market growth.
The Asia Pacific is anticipated to be the fastest-growing regional market over the forecasted period. This growth is attributed to several factors including rising industrialization and rapid urbanization coupled with a growing population and increased disposable income. The air pollution level is dangerously high in many parts of the region. According to the World Health Organization (WHO), in 2018, around 2.2 million people have become the victim of air pollution in the region. Owing to growing concerns regarding the ill-effects of air pollution on human health has expected to drive the growth of the market.
Global Air Purification System Market: Key Players Overview
- Daikin Industries, Ltd.:
Daikin Industries, Ltd. is one of the leading manufacturers of air conditioning equipment. The company operates in five business segments namely air conditioning & refrigeration, chemical, oil hydraulics, defense system, and electronics business. It has 291 consolidated subsidiaries operating across the globe. In the financial year 2018, the company generated USD 22.30 billion in revenue. In April 2016, Daikin Industries, Ltd., through its subsidiary American Air Filter Company Inc. (AAF) acquired Flanders Holdings LLC, a U.S. air filter manufacturers. This will help AAF to establish a global sales network to market the cleanroom equipment and high-end air filter products which are the strength of Flanders.
MANN+HUMMEL is one of the leading global experts in filtration technology and provides filtration solutions in the international market in business to the business sector. The company operates in five business units: automotive original equipment, automotive aftermarket, wix-filtron, industrial filtration, and water filtration. In September 2018, the company launched OurAir, a portfolio of indoor air quality solutions in India. This will help to MANN+HUMMEL to control the growing air pollution in India.
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