Smart Air Purifier Market: Global Industry Analysis and Forecast (2023-2029)

Smart Air Purifier Market size was valued at US$ 7.23 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 11.6% through 2023 to 2029, reaching nearly US$ 15.59 Bn.
Smart Air Purifier Market Overview:
The Smart Air Purifier Market is expected to reach US$ 15.59 Bn. by 2029. Filtration is quite effective in smart air purifiers. Air purifiers or air cleaners are devices that filter impurities from air to improve the quality of indoor air. These devices are frequently advertised as being helpful to allergy and asthma sufferers, as well as decreasing or eliminating second hand tobacco smoke. Whether it's a small stand-alone unit or a bigger unit that can be attached to a HVAC unit or an air handler unit, commercial air purifiers are available for use in medical, industrial, and commercial settings. The purpose of air purifiers in industry is to remove contaminants from air before it is processed. For this, pressure swing adsorbers or other adsorption techniques are commonly utilised.To know about the Research Methodology :- Request Free Sample Report
Smart Air Purifier Market Dynamics:
The increase in the per capita income of the population, particularly in the Asia-Pacific region, has resulted in an increase in people's purchasing power. Furthermore, prominent competitors in the smart air purifier market are emphasising the importance of educating clients about the benefits of smart air purifiers. In addition, a number of initiatives and campaigns have been launched to develop the market for smart air purifiers. Due to rising per capita income and increased healthcare spending, sales of these purifiers are expected to increase during the forecast period.

Due to increased development and innovation, the fastest-rising economies are expected to serve as a potential market for smart air purifiers. Furthermore, as per capita income in these economies rises, individuals become more technology-oriented, investing heavily in high-end technological devices such as smart air purifiers. As a result, all of these factors work together to drive the smart air purifier market forward.

In metropolitan regions, smart air purifiers are commonly employed for residential purposes. People and organizations have been obliged to seek ways to lessen the impact of indoor and outdoor pollution on humans as a result of increased emissions of hazardous particulate matter as a result of fast urbanization and increased construction activity. Increased car production and fast urbanization have resulted in worrying levels of pollution.

However, some air purifiers emit ozone, which is harmful to both the environment and humans. As a result, the implementation of severe requirements by regulatory organizations regarding the use of such smart air purifiers hampers the market's growth.
Smart Air Purifier Market Segment Analysis:
Based on the Technique, the market is segmented into High-efficiency Particulate Air (HEPA), Thermodynamic sterilization system (TSS), Ultraviolet germicidal irradiation, Ionizer purifiers, Activated Carbon Filtration, and Others. High-efficiency Particulate Air (HEPA) technique segment is expected to hold the largest market share of xx% by 2029. Allergic rhinitis affects about 20% of the Australian population, while asthma affects one in every nine people. Allergies and asthma symptoms can be caused by a variety of factors. These particles can be filtered out using air filtration, offering relief from allergy and asthma problems. You may take it a step further by vacuuming with a HEPA filter to clean surfaces including floors, carpets, and couches.

Some companies advertise their air filters as the best on the market, but the truth is that they release dangerous by-products into your indoor air. This is something that HEPA filters lack. HEPA filter systems are made to perform well while producing no by-products. It is eco-friendly, and you can rest assured that they are safe to use.

The activated carbon filtration segment is expected to grow rapidly at a CAGR of 12.6% during the forecast period 2023-2029. The unique properties of activated carbon make it able to remove gases like VOCs, smells, and other odors from the air. It does it in a different way than other air purifiers, such as HEPA, which solely filter particle pollution from the air.

Based on the End-User, the market is segmented into Residential, Commercial, and Others. The Commercial segment is expected to grow rapidly at a CAGR of 12.4% during the forecast period 2023-2029. The presence of a high number of individuals in a room increases the danger of airborne infections in commercial areas. When it comes to lowering carbon footprint, commercial buildings are a primary emphasis. In terms of design and operation, governments have imposed a variety of requirements on the construction of offices and commercial buildings.

The residential segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. This is due to the rising indoor air pollution. Consumers are encouraged to invest in the product due to the rising prevalence of health issues caused by airborne diseases such as asthma, allergies, and other respiratory ailments. Furthermore, the ease with which smart gadgets can be operated bodes well for product uptake. The use of these items in residential areas aids in the monitoring and control of air quality in order to eliminate smoke fumes, dust particles, and odors.
Smart Air Purifier Market Regional Insights:
Asia Pacific region is expected to dominate the Smart Air Purifier Market during the forecast period 2023-2029. Asia Pacific region is expected to hold the largest market share of xx% by 2029. The regional product demand is expected to be driven by rising pollution levels in countries like China and India. According to the WHO, China and India accounted for over half of all global deaths caused by air pollution in 2017. Furthermore, India is home to 13 of the world's top 20 most polluted cities. According to a Greenpeace estimate from 2022, air pollution kills 1.2 million Indians prematurely each year. China and India have implemented a variety of initiatives, including a graded air quality rating response system and automotive pollution lowering converters. These are the factors that are expected to drive the growth of the Asia Pacific region in the Smart Air Purifiers Market during the forecast period 2023-2029.

The North American region is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. This is due to the presence of the major key players of smart air purifiers in the United States in the North American region.

The objective of the report is to present a comprehensive analysis of the Global Smart Air Purifier 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, PESTEL analysis with the potential impact of micro-economic factors of the market has 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 reports also help in understanding the Global Smart Air Purifier Market dynamic, structure by analyzing the market segments and projecting the Global Smart Air Purifier Market size. Clear representation of competitive analysis of key players by Technique, price, financial position, product portfolio, growth strategies, and regional presence in the Smart Air Purifier Market make the report investor’s guide.
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Smart Air Purifier Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 7.23 Bn.


Forecast Period 2023 to 2029 CAGR:
11.6%
Market Size in 2029:
US $ 15.59 Bn.


 Segments Covered:
by Product Type
• Dust collectors
• Fume and smoke collectors
• Others


by Technique
• High-efficiency Particulate Air (HEPA)
• Thermodynamic sterilization system(TSS)
• Ultraviolet germicidal irradiation
• Ionizer purifiers
• Activated Carbon Filtration
• Others


by End-user
• Residential
• Commercial
• Others



Smart Air Purifier 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)
Smart Air Purifier Market Key Players
• Dyson Ltd.
• Honeywell International Inc.
• IQAir North America Inc.
• Koninklijke Philips NV
• LG Electronics Inc.
• Samsung Electronics Co. Ltd.
• Unilever Group
• Woongjin Coway Co. Ltd.
• Sunbeam Products, Inc.
• Xiaomi Corporation
• Coway Co., Ltd.
• Whirlpool Corporation
• Amaircair Corporation
• Sharp Corporation
• Winix Inc.
• ATIF Holdings Limited
• Acer Inc.

Frequently Asked Questions:

1. Which region has the largest share in Global Smart Air Purifier Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Smart Air Purifier Market?
Ans: The Global Smart Air Purifier Market is growing at a CAGR of 11.6% during forecasting period 2023-2029.

3. What is scope of the Global Smart Air Purifier Market report?
Ans: Global Smart Air Purifier Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Smart Air Purifier Market?
Ans: The important key players in the Global Smart Air Purifier Market are – Dyson Ltd., Honeywell International Inc., IQAir North America Inc., Koninklijke Philips NV, LG Electronics Inc., Samsung Electronics Co. Ltd., Unilever Group, Woongjin Coway Co. Ltd., Sunbeam Products, Inc., Xiaomi Corporation, Coway Co., Ltd., Whirlpool Corporation, Amaircair Corporation, Sharp Corporation, Winix Inc., ATIF Holdings Limited, Acer Inc.

5. What is the study period of this Market?
Ans: The Global Smart Air Purifier Market is studied from 2022 to 2029.