The global air purification systems market features an essentially fragmented competitive landscape, with the top six vendors in the market collectively accounting for a nearly 45% of the overall market in 2015, observes a recent report by Transparency Market Research (TMR). These top vendors, namely Sharp Corp., Jarden Corp., Panasonic Corp., Honeywell International Inc., Daikin Industries Ltd., and Philips NV maintain their stronghold in the global market with the help of strategically located production and logistics assets and diversified product portfolios. Well-established brand names are also key to the top positions of these vendors in the market.
However, the struggle to gain sustainable profits, especially in regional pockets that feature easy availability of cheaper technology and substitutes, is tough. The situation is markedly challenging in emerging economies wherein the cost of product plays a key role in purchasing decisions. Nevertheless, the high growth opportunities in these regions are bringing in international players through mergers, acquisitions, and collaborations. For instance, in order to capture the market in Asia, especially India, Sharp Corporation recently announced it had entered into a partnership with QNET to market its air purifier product ‘Plasmacluster’ on the latter’s redemption e-store.
Get PDF Brochure for more Professional and Technical industry insights: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=6886
According to TMR, the global air purification systems market will exhibit an 8.4% CAGR over the period between 2016 and 2024, rising from a valuation of US$12.06 bn in 2015 to US$24.83 bn by 2024.
Thanks to High Pace of Industrialization, Asia Pacific to Remain Key Consumer of Air Purifiers
In terms of end-user, the global air purification system market acquired more than 40% of its overall revenues from sales in the industrial sector in 2015. In the next few years as well, the demand for air purification systems across the industrial sector will be the most lucrative as compared to other end-use sectors. Geographically, the market earns a dominant share of the overall revenue from sales across Asia Pacific. The Asia Pacific air purification systems market accounted for more than 30% of the market in 2015 and is expected to remain dominant over the forecast period as well.
Worsening Levels of Air Pollution in Emerging Economies to Drive Market
The global air purification systems market in developing regions is primarily driven by the increasing urbanization and industrialization, especially in countries such as China and India. The starkly degrading quality of air, followed by the rising concerns regarding harmful effects of air pollution on human health in these countries will provide a huge boost to the development of the Asia Pacific air purification systems market in the next few years.
Moreover, as nearly 80% of the world’s total health hazards resulting from air pollution occur in developing nations, especially in Asia Pacific, these concerns are expected to translate into an increased demand for air purification systems and heightened growth prospects for the global market. Imposition of strict laws pertaining to toxic emission control is also a key factor contributing to the overall growth of air purification systems.
Concerns Related to Generation of Harmful By-products to Restrain Market Growth
It has been observed that some classes of ionic air purifiers generate ozone (O3) as a by-product. The gas is known to have harmful effects on the health of living being and causing conditions such as throat irritation, lung irritation, and discomfort in chest. Additionally, consumers are also reluctant to purchase air purifiers, especially for residential application, in emerging economies such as India and China due to the high costs of these devices. Concerns such as these play a key role in discouraging a large set of consumers from buying air purification systems and are expected to collectively restrain the market in the next few years.
This review of the market is based on a recent report published by Transparency Market Research, titled “Air Purification Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
For the study, the global air purification systems market has been segmented as follows:
Air Purification Systems Market: By Technology
- Activated Carbon
- Electrostatic Precipitator
- UV Light Air Purifier
- Ionic Air Purifier
- Others (Kitchen Ventilation Systems etc.)
Air Purification Systems Market: By Impurity
- Oil & Mist
- Smoke Collector
- Fume Extraction
- Dust Collector
- Others (Pollen grains etc.)
Air Purification Systems Market: By End-use
Air Purification Systems Market: Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of South America
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
US Office Contact
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.