Residential Dehumidifiers Market – Global Market Size, Strategic Growth Drivers, Risk Assessment Framework, Regulatory Landscape Review, Competitive Intensity Mapping & Long-Term Industry Outlook to 2030
Overview
Residential Dehumidifiers Market size was valued at USD 1319.64 Mn. in 2023 and expected to reach USD 1678.95 Mn. by 2030 at a CAGR of 3.5% during the forecast period.
Residential Dehumidifiers Market Overview:
Residential Dehumidifiers are essentially used in household applications for air purification and humidity level reduction in the residence. It also diminishes the erroneous odour and comforts the environmental atmosphere. Humidity is either absorbed or compressed in the dehumidifiers. The high risk of allergic reactions in the humid environment is a key factor attributing to the growth of the market. The global residential dehumidifiers market is expected to register a CAGR of approximately 3.5% during the forecast period.
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Residential Dehumidifiers Market Dynamics:
Rising concerns for environmental pollutions and its after effects and increasing population across the globe are the key demand drivers for the market. In addition, growing prevalence of lung diseases and increasing breathing issues among the geriatric population are the key factors attributing growth in the market. According to the British Royal College of Medicine, approximately 16% increase is seen in the population of breathing disease patients across Europe and approximately 20% growth is seen in North American region’s lung infected patients.
Increasing residential construction sector across the emerging economies is the key factor attributing to the growth of the market. Moreover, real estate moguls across the globe are highly promoting the safe and clean environment across the globe and thereby, demand for dehumidifiers have also propelled.
Change of lifestyle across the consumers and rising adoption of life-enhancing services are the demand drivers for the market. In addition, increasing adoption of comfortability across the middle-class population is considered to drive the demand for the product in the market. According to UN Human Comfort Index, approximately 28.4% growth is seen in the comfort factors of people across the globe.
On the other hand, the high cost of the dehumidifiers and high electricity consumption made by the machines are the keys restraining factors hampering the demand for the products in the market.
More restraints and opportunities are covered in the report by considering the data of 2023 for a better understanding of the current market scenario. Moreover, the bottom-up approach is considered while analyzing the data from past years as well as forecast trends in the report making. The user is expected to be able to estimate the overall market dynamics from the report analysis.
Residential Dehumidifiers Market Segmentation:
Ventilating Dehumidifiers Segment is dominating the Residential Dehumidifiers Market:
Ventilating dehumidifiers segment is dominating the market with approximately 42% market share. Factors attributing to the segment growth are effective filtration gained by ventilators from sucking of outside air and indoor air elimination for steady movement given by the product. Moreover, dehumidifiers’ manufacturers across the globe are integrating the product to be used in the HVAC system also for effective ventilation and air processing. Moreover, some of the ERV manufacturers are also integrating the air circulation units for the dehumidifiers.
Chemical absorbent dehumidifiers are the second dominating segment in the market with approximately 28% market share in terms of unit, manufacturing owing to increasing awareness towards virus and fungal infections in consumers.
30-50 Pint capacity segment considered to gain traction in Residential Dehumidifiers Market:
According to HVAC Association, 30-50 pint capacity dehumidifiers generate lower to moderate flexes and do not require a high amount of electricity in the operation. In addition, quick maintenance with easy filtering is the key advantage of the product and is equipped with washable and easily accessible parts. Also, the permanent drainage system is also installed by some manufacturers in order to provide safe wastewater passage for confined spaces. Moreover, cost efficiency provided by the system and compactness provide by manufacturers are the key demand drivers of the segment in the market.
Residential Dehumidifiers Market Regional Insights:
North America is dominating the global Residential Dehumidifiers market with approximately 36% market share owing to increasing adoption of lifestyle enhancing services and increasing inclination of consumers in the region towards comfort. In addition, increasing awareness towards lung infections and dust allergies among the regional populace is considered a key demand driver for the domestic North American market. In addition, dominating the residential construction sector across the US, Canada, and other regions is considered to drive the growth of the product in the market.
The Asia Pacific is anticipated to position itself as the emergent region in the Residential Dehumidifiers Market owing to well established first copy manufacturing of electronics and consumer goods across China. Besides, the increasing trend of technological adoption by prominent players in the region is driving the regional growth in the market. In addition, increasing investment by environmental organizations in air quality index compensation is expected to increase the demand for the product in the region.
Europe is assessed to pose as a projecting region in the market with a CAGR of approximately 4.5% during the forecast period. Factors attributing to the regional growth are the growing demand for air quality and fresh environment regulations posed by the EU.
MEA and GCC countries are expected to propel in the market in terms of unit consumption as governments in the regions of Africa and GCC are strongly adopting the residential dehumidifiers owing to high-temperature conditions in Africa and Saudi countries.
The objective of the report is to present a comprehensive analysis of the Global Residential Dehumidifiers Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Residential Dehumidifiers Market dynamics, structure by analyzing the market segments and project the Global Residential Dehumidifiers Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Global Residential Dehumidifiers Market make the report investor’s guide
Residential Dehumidifiers Market Scope:Inquire before buying
| Global Residential Dehumidifiers Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 1319.64 Mn. |
| Forecast Period 2024 to 2030 CAGR: | 3.5% | Market Size in 2030: | USD 1678.95 Mn. |
| Segments Covered: | by Product | Ventilating dehumidifiers Heat pumps Chemical absorbent dehumidifiers |
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| by Capacity | Below 30 pint 30-50 pint Above 50 pint |
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| by Application | Single room Basement others |
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| by Distribution Channel | Offline Online |
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Residential Dehumidifiers Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Residential Dehumidifiers Market, Key Players are:
1. S.A.S. Electric Co. Ltd.
2. Gree Electric Corporation
3. Danby
4. LG Electronics
5. Panasonic Corporation
6. De’ Longhi Appliances
7. Hangzhou Songjiang Electric Co. Ltd.
8. Koninklijke Philips N.V.
9. Midea Group
10.Aprilaire
11.Friedrich Air Conditioning
12.General Filters, Inc.
13.Haier Group
14.Frigidaire
15.Honeywell international, Inc.
16.Sunpentown International, Inc.
FAQs:
1. What was the global Residential Dehumidifiers market share in 2023?
Ans: Approximately, 1319.64 million USD.
2. Which Application segment is leading the Residential Dehumidifiers market?
Ans: ventilating dehumidifiers are dominating the market owing to effective filtration gained by ventilators from sucking of outside air and indoor air elimination for steady movement given by the product.
3. Who are the top companies in Global Residential Dehumidifiers manufacturing market?
Ans: S.A.S. Electric Co. Ltd., Gree Electric Corporation, Danby, LG Electronics, Panasonic Corporation, De’ Longhi Appliances, Hangzhou Songjiang Electric Co. Ltd., Koninklijke Philips N.V., Midea Group, Aprilaire, Friedrich Air Conditioning, General Filters, Inc., Haier Group and others.
4. Which region is dominating the Residential Dehumidifiers market?
Ans: North America is leading the global Residential Dehumidifiers market with approximately 42% market share owing to increasing adoption of lifestyle enhancing services and increasing inclination of consumers in the region towards comfort.
5. What is the key driving factor for the growth of the Global Residential Dehumidifiers market?
Ans: Rising concerns for environmental pollutions and its aftereffects and increasing population across the globe are the key demand drivers for the market.