Air Purification Market to Outstrip $73437.36 Million by 2028 Growing Sturdy at 17.7% CAGR - COVID-19 Impact

The Air Purification Market report by “The Insight Partners” entails detailed information regarding the dynamics affecting market valuation over the period.

NEW YORK, UNITED STATES, October 26, 2022 /EINPresswire.com/ -- The air purification market is expected to grow from US$ 23,809.52 million in 2021 to US$ 73437.36 million by 2028. It is estimated to grow at a CAGR of 17.7% from 2021 to 2028.

The increase in airborne diseases owing to the rise in air pollution is a key factor attributed to the market's growth. Furthermore, growing awareness among the consumer about using air purifiers, a rise in disposable income, and an improved standard of living are the prominent factors boosting the market growth. The growing trend toward adopting portable and smart air purifiers is further propelling the market dynamics over the forecast period. The supportive government initiatives pertaining to emission standards, enforcement of workforce health and safety regulations, and amendment of existing air purity policies further strengthen the market dynamics for the air purification market. For instance, in August 2021, India had planned to re-establish the new national ambient air quality standards (NAAQS) in 2022.

The new standards include ultra-fine particulate matter constituents, which fall below PM2.5 under more pollutants. Also, in September 2021, The World Health Organization (WHO) introduced new Global Air Quality Guidelines (AQGs) to protect populations' health by reducing levels of key air pollutants that contribute to climate change. Thus, such initiatives further augment the need for air purification products, driving the market outlook over the forecast period.

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Companies Profiled in this report includes: ACTIVEPURE TECHNOLOGIES LLC,WHIRLPOOL CORPORATION,CAMFIL,DAIKIN INDUSTRIES, LTD.,HONEYWELL INTERNATIONAL, INC.,IQAIR NORTH AMERICA, INC.,KONINKLIJKE PHILIPS N.V.,LG ELECTRONICS, INC,PANASONIC CORPORATION,UNILEVER PLC.

Impact of COVID-19 Pandemic on Air Purification Market

Denmark, Poland, and France are among the countries with high air pollution levels. The environment is positively impacted by government regulations in various European countries regarding developing environmentally friendly buildings in the residential and commercial sectors. The region is a major manufacturing and industrial center for industrial equipment, automotive, construction, energy, and power industries. However, due to business lockdowns, travel bans, and supply chain disruptions in 2020, some of these industries have declined in the region, significantly reducing air pollution. However, growing concerns about the safety of SARS-CoV-2 have increased the demand for air purifications.

Government-imposed lockdowns kept people indoors in 2020, boosting sales of residential air purifications. Various international air purification manufacturers see the pandemic as an opportunity. For example, South Korean air purification giant, Coway, has expanded into Europe due to the growing demand for air purifications in the region. The company took over the integration team from Serviceplan and the unit from the Plan.Net agency. Therefore, increasing air pollution and pollution caused by viruses and bacteria provide growth opportunities for the Europe air purification market players.

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Market Insights - Air Purification Market

Rising Urbanization & Industrialization is propelling the market growth

The increase in urbanization would necessarily augment the need for large-scale air filter products in residential and commercial applications, which would help drive market growth over the forecast period. The countries in developing economies are predominantly experiencing the rise in urbanization at a faster pace. The rise in population is also aiding people in shifting toward urbanization, helping the market grow. As per the World Bank Group, the world's urban population will increase by 1.5 times to 6 billion in 2045. Also, according to the World Economic Forum, the world's population in cities is expected to rise from 55% in 2022 to 80% by 2050. The countries in Asia Pacific have unprecedented opportunities to catalyze economic development through increased urbanization in the coming years. The growing income and spending capacity of people in developing economies and increasing demand in various end-use sectors such as automotive, healthcare & medical, building & construction, manufacturing, and energy & utilities are the major factors driving the growth of the air purification market. The rise in urbanization includes expanding schools, colleges, hospitals, commercial complexes, residential houses, and other factors, wherein the need for clean air emerges, which helps drive the market. The increase in urbanization led to enormous indoor and outdoor air pollution, which is further escalating the demand for air purifiers

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