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Albany, New York, Sept. 05, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research titled ‘Air Purification Systems Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026, the global air purification systems market is expected to reach US$ 38,340.6 Mn by 2026, expanding at a CAGR of 8.2% from 2018 to 2026. In terms of volume, the market is expected to reach 175,864 thousand units in 2026, expanding at a CAGR of 7.2% from 2018 to 2026. Asia Pacific held a prominent share in the global air purification systems market in 2017.
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Air purifier is a system that removes harmful contaminants from the air in a room. It is used to reduce or eliminate dust, mold spores, pollen, second-hand tobacco smoke, etc. Based on technology, air purification systems comprise High Efficiency Particulate Air (HEPA), activated carbon, electrostatic precipitator, UV light, and ionic purifier. Air purification systems can also be classified based on impurity into exhaust filtration or dust collector, smoke collector, oil & mist collector, fume extraction, and others. The end-use sectors for air purification systems are industrial, commercial, and residential segment. Increasing Indoor Air Quality (IAQ) concerns and increasing health awareness related to ill effects of air pollution are the main drivers of air purification systems. However, release of harmful byproducts and higher cost related to air purifiers are the major challenges restricting higher adoption of these systems.
Based on technology, HEPA purification system is the major segment and is anticipated to dominate the market during the forecast period, followed by activated carbon purifier, due to their high efficiency in removing particulate matter and odor. HEPA contributes major share of the air purification systems market and is anticipated to expand at a CAGR of more than 8% during the forecast period.
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Based on impurity, exhaust filtration or dust collector and smoke collector contributed close to 60% of the total air purification systems market and are expected to dominate the market during the forecast period due to increasing infrastructure and industrial activities and use of vehicles especially in developing regions which leads to increasing levels of dust and smoke.
Air purification systems are widely used in the industrial, commercial, and residential sector due to its advantage of removing harmful pollutants and maintaining clean air. In terms of end-user, industrial was the largest segment of the global air purification systems market, accounting for more than 35% share in 2017, closely followed by residential air purification systems. The segment is anticipated to continue its dominance during the forecast period due to steady growth in industries especially in emerging economies. Implementation of stringent government industrial norms and increasing awareness related to health of workers are the reasons that drive the market. Commercial is another key end-user segment of the air purification systems market owing to rising infrastructure activities and increasing awareness in healthcare, tourism, and hospitality sector. Air purification systems for residential applications are still at a nascent stage but are anticipated to grow during the forecast period due to indoor air quality concerns.
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Asia Pacific dominates the air purification systems market, followed by North America and Europe. Middle East & Africa is also expected to be a key upcoming market for air purification systems during the forecast period. Significant expansion of industries and commercial segments which results in increasing air pollution in developing regions is anticipated to be a key factor driving the air purification systems market in this region.
The global air purification systems market is consolidated. Key players in the market include Daikin Industries Ltd., Sharp Corporation, Camfil Group, Philips Electronics N.V., 3M Company, Panasonic Corporation, LG Electronics Inc., Mann+Hummel, Honeywell International Inc., Clarcor Inc., Whirlpool Corporation, SPX Flow, Eureka Forbes, Electrocorp, and Fumex Inc.
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The global air purification systems market is segmented as below:
Global Air Purification Systems Market, by Technology
Global Air Purification Systems Market, by Impurity
Global Air Purification Systems Market, by End-use
Global Air Purification Systems Market, by Geography
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