Residential Air Purifiers Market

Daikin Industries, Ltd., Sharp Corporation, and Honeywell International Inc., are the leading players in the Residential Air Purifiers Market

The residential air purifiers market is projected to reach USD 13.6 billion by 2025 from USD 9.2 billion in 2020, at a CAGR of 8.2% during the forecast period. Residential air purifiers are the most effective devices to improve indoor air quality and to reduce or remove the sources of pollutants and to ventilate with clean air. These are designed to filter the air in a single room or area and reduce indoor air pollution. They offer the advantages of higher efficacy, usability, and improved air quality for healthy breathing. Over the years, residential air purifiers have gained importance among homes and residential buildings with the inclination towards quicker, safer, simpler, and high-end air purifiers, encouraging the growth of the residential air purifiers market. Other factors driving market growth include the rising air pollution levels and increasing urbanization, which have further necessitated the need for better air quality at home. However, the high cost of these products and technical limitations associated with air quality monitoring products are expected to restrain market growth to a certain extent.

The residential air purifiers market is consolidated at the top with a large number of leading market players based in developed countries. The prominent players operating in this market include Daikin Industries, Ltd. (Japan), Sharp Corporation (Japan), Honeywell International Inc. (US), Samsung Electronics Co., Ltd. (South Korea), LG Electronics Inc. (South Korea), Koninklijke Philips N.V. (Netherlands), Dyson (UK), Unilever Group (UK), Panasonic Corporation (Japan), Whirlpool Corporation (US), AllerAir Industries Inc. (US), IQAir (Switzerland), WINIX Co., Ltd. (South Korea), Xiaomi Corporation (China), Camfil AB (Sweden), Alen Corporation (US), Airgle Corporation (US), Hunter Pure Air (US), Kent RO Systems Ltd. (India), and HSIL Limited (India). However, in the past few years, a number of smaller players have emerged from niche markets, competing with global players on the basis of price and technological innovation. Due to the intense competition in the market, major market players are increasingly focusing on expanding their geographic presence into the high-growth emerging markets and strengthening their technological competitiveness in the market by launching new products.

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Daikin Industries, Ltd. is a leading provider of essential solutions and services for air conditioning equipment. It has been serving the medical device industry for over 95 years. The company has an exhaustive portfolio and seeks to strengthen it further through product launches and enhancements or upgrades. The companys strong focus on R&D activities has helped it build a strong portfolio of innovative products. It has invested about USD 300 million in advanced R&D centers and has also earned a high reputation for its after-sales service. Daikin further seeks to expand the conditioning and fluorochemicals businesses under its strategic management plan, “FUSION 20.” Daikin achieved record sales and operating income in 2019. The company plans to further gain a competitive edge in the market by strengthening its existing businesses and making proactive investments in the IoT and AI sectors, while also accelerating measures to be an environmental leader and support a sustainable global society.

Sharp Corporation is a worldwide developer of core technologies that play an integral role in the development of digital technologies such as optoelectronics, infrared, semiconductors, digital MFDs, LCD panels, and solar technology. Sharp aims to continuously improve lives through the use of advanced technologies, with a commitment to innovation, quality, value, and design. Sharp is also committed to minimizing the environmental burden through the effective implementation of e-waste management processes. Sharp’s growth strategy for the residential air purifiers business mainly concentrates on expanding its production capacity and meeting the rising customer demand. The company’s focus on increasing investments in product development enables it to introduce innovative products in the market, thus capturing a significant share of the market. The company further aims to bank on internal growth with strategic acquisitions.

Related Reports:

Residential Air Purifiers Market by Technology (HEPA Filter, Electrostatic Precipitators, Activated Carbon, Ultraviolet, Ionizers, Ozone Generators), Type (Portable, In-duct) - Global Forecast to 2025

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Report Code
AST 7714
RI Published ON
8/7/2020
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