According to the new research report, titled "Air Purification Market Forecast to 2028 – COVID-19 Impact and Global Analysis," published by The Insigh
According to the new research report, titled “Air Purification Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the air purification market is expected to reach US$ 73,437.36 million by 2028, registering a CAGR of 17.7 % from 2022 to 2028. The rapid adoption of indoor air quality monitoring equipment, increasing public and private funding and investment, and the presence of supportive government legislation, such as India’s Clean Air Challenge to Combat Air Pollution, all contribute to the revenue growth of the air purification market. For example, India has 22 of the 30 most polluted cities worldwide, and about 1.7 million Indians died from air pollution in 2019. This gained momentum and led to the adoption of clean air technology.
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The List of Companies – Air Purification Market
- Whirlpool Corporation
- DAIKIN INDUSTRIES, Ltd.
- Honeywell International Inc.
- Koninklijke Philips N.V.
- LG Electronics
- Panasonic Corporation
- Unilever PLC
- ActivePure Technologies, LLC.
Moreover, rapid industrialization and urbanization have resulted in high pollution levels in major cities across China. The Ministry of Environmental Protection has imposed stringent anti-pollution targets on 28 cities around Beijing and increased the number of air purifiers installed in most residential, commercial, and industrial buildings in these cities. Hence, rising pollution levels in the countries are expediting the growth of the air purification market.
The COVID-19 pandemic crisis drastically affected the Air Purification market in APAC countries, such as India and China. Lockdowns and the slowdown of industrial activities across India and China disrupted the supply chain of various raw materials and goods. In the pre-pandemic scenario, Air Purification adoption was rising abruptly, owing to growth in construction activities. However, the pandemic hampered the business dynamics considerably in its starting days in the first half of 2020. In the pandemic, the shutdown of manufacturing industries, disruption of the supply chain, and low confidence of consumers were among the primary implication of the outbreak. Thus, the pandemic impacted the air purification market negatively in the beginning.
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Key Findings of Study
The growth of the air purification market in Asia Pacific is primarily attributed to increasing airborne diseases, growing adoption from the industrial sector, and supportive government regulations for air purity. The countries in Asia Pacific region are highly vulnerable to airborne diseases due to the rise in industrial activities and construction projects. As per the World Air Quality Report 2021, none of the cities in India met the prescribed World Health Organization air quality standards of 5 micrograms per cubic meter in 2021. The report has also stated that 35 of the top 50 most polluted cities are from India.
The growing initiatives from leading players for introducing new products are strengthening the market dynamics over the projected period. For instance, in April 2022, Aura Air, an Israel-based manufacturer, planned to introduce a smart air management platform in India. These air purifiers detect, capture, and kill 99.9% of viruses, bacteria, and mold and can remove airborne particles. These air purifiers are IoT-enabled devices connected to a mobile phone and deliver real-time updates for indoor and outdoor applications. Thus, such factors are aiding the air purification market outlook over the forecast period.
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