Global Air Purification Systems Market is projected to reach valuation of US$ 24,829.2 Million by 2024 - TMR

Albany, New York, March 20, 2018 -- The global air purification systems market is moderately consolidated with intense competition. Top six players, namely Sharp Corp., Jarden Corp., Panasonic Corp., Honeywell International Inc., Daikin Industries, and Philips NV held more than 45% market share in 2015. Initiatives to expand customer base through mergers and acquisitions is also what top players in this market are striving for. A case in point is Daikin Industries Ltd. In 2016, the company acquired Flanders – a U.S- based air Filter Company through its subsidiary to expand its customer base with the objective to boost sales. These players are also investing to diversify their product portfolio so as to reign in this competitive market.

Meanwhile, key players in this market are anticipated to struggle to gain enough profits especially in regional markets where cheap air purification solutions are available. In this scenario, emerging markets are even more difficult as cost sensitivity is high among consumers. However, emerging economies hold growth opportunities, which international players are tapping by means of strategic alliances and partnerships.

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The global air purification systems market is predicted to rise at a CAGR of 8.39% between 2017 and 2024 vis-à-vis revenue, for the market to be valued at US$ 24,829.2 mn by the end of 2024.

Dust Collectors to Remain Attractive in Near Future

The air purification systems market is segregated depending upon few parameters, viz, technology, end use, impurity, and region. In terms of technology, HEPA purifier, ionic air purifier, electrostatic precipitator, UV light purifier, activated carbon, and others are the segments into which the air purification systems market is divided. HEPA purifier holds prominence in this market mainly because of efficiency of HEPA filter and its compatibility with other air purifiers such as Activated Carbon air purifier. On the other hand, sales of ionic purifier is anticipated to decline as it releases ozone as a byproduct.

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Depending upon impurity, the global air purification systems market is segmented into oil and mist collectors, smoke collectors, fume extraction, dust collector, and others. Of them, dust collector is anticipated to hold the leading share in the overall market in the near future. Increasing deforestation and increasing infrastructural development activities are primary factors behind accumulation of dust contaminants in the air. Smoke collector is the second-leading segment in this market based on impurity due to increasing vehicular pollution and industrial emissions.

By end user, the air purification systems market is divided into industrial, residential, and commercial. Of these, the industrial segment currently displays the leading demand for air purification systems; the segment is predicted to retain its dominance in the years ahead too mainly because of expansion of industrial activities in emerging economies.

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Asia Pacific to Catapult Growth of Global Market

Vis-à-vis revenue, Asia Pacific holds the leading share in the global market for air purification systems. Rapid urbanization and industrialization coupled with alarming air pollution in China push Asia Pacific air purification systems market to the fore. On the other hand, North America and Europe air purification systems market are likely to expand at a moderate pace in the upcoming years.

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In a nutshell, rising air pollution level due to a host of factors have raised alerts to deploy air purification systems in order to save serious health hazards.

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