According to Inkwood Research, the Global Portable Air Purifier Market is estimated to project a CAGR of 7.8% in terms of revenue during the forecasting years of 2024-2032.
“Browse 50 Market Data Tables and 48 Figures spread over 170 Pages, along with an in-depth TOC on the Global Portable Air Purifier Market Forecast 2024-2032.”
Air purifiers are characterized by devices that enhance the quality of indoor air by removing pollutants and contaminants from the atmosphere. Likewise, portable air purifiers are primarily used to purify the air in indoor environments and settings, like schools, hotel rooms, offices, and hospitals. They differ in terms of installation, operating technology, and the volume of air they clean, subsequently influencing their air-cleaning effectiveness.
Impact of Degrading Air Quality on the Economy Fuels Market Growth
According to a report issued by Greenpeace Southeast Asia and the Centre for Research on Energy and Clean Air, the expenses of air pollution arising from incinerating oil, gas, and coal, in addition to fossil fuels, lead to thrice as many deaths as road traffic accidents, across the globe. It is also estimated that air pollution has an economic cost of over $2.5 trillion, equating to nearly 3.3% of the world’s gross domestic product (GDP).
Moreover, deteriorating air quality impacts the economy in numerous ways, like chronic respiratory diseases, higher rates of asthma, and diabetes. These conditions further lead to a decreased capability to work and lower the degree of participation in the employment force.
E-Commerce: Fastest-growing Distribution Channel
E-commerce stores are characterized by virtual stores that do not require a physical space, and goods and services are sold through applications and websites. E-commerce, as a platform, is becoming a popular channel for purchasing air purifiers owing to advantages like easy accessibility, continuous service, availability of information regarding the product’s functions, and convenient home deliveries.
Moreover, the increasing penetration of diverse online portals in developed and emerging countries has evolved as a primary source of revenue for several enterprises. Besides, a rise in variety, offers, and discounts encourage consumers to purchase portable air purifiers through virtual channels.
North America: Dominant Region as of 2023
The increasing prevalence of airborne diseases, the rise in air pollution, and the growing awareness regarding the impact of air pollution on cognitive capabilities are expected to bolster the demand for air purifiers in the region. Moreover, the incidence of bacterial and contagious infections is projected to positively influence the market for portable air purifiers across the forecast period.
There is significant product differentiation within the global market, which leads to increased competition between key players. As a result, the intensity of industrial rivalry is estimated to be high over the forecast years. Some of the eminent companies operating in the market are Philips International BV, Dyson Limited, Blueair Inc, Panasonic Corporation, Daikin Industries, etc.
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