The most-prominent factors propelling the air purifier market are the rising prevalence of airborne diseases, poor indoor air quality, and surging global air pollution levels, accompanied by better living standards. In 2021, the market stood at $11,422.7 million, and it is expected to reach $31,195.6 million by 2030. The market is projected to advance at a CAGR of 11.8% from 2021 to 2030 due to the rising awareness about curbing the spread of respiratory illness by driving down pollution levels.
The accelerating pace of the spread of airborne diseases, including the common cold, tuberculosis (TB), measles, and influenza, has been driving the air purifier market over the past few years. For instance, TB is the second-deadliest infection, followed by COVID-19 currently, and it ranks 13th among the leading roots of death all around the world. There were 10 million reported cases of TB and 7.5 million reported cases of measles worldwide in 2020. Air purifiers result in lower amounts of airborne pollutants in constricted spaces, as per the U.S. Environmental Protection Agency.
Within the technology segment, air purifiers with ionic and HEPA technologies constitute more than half the total market share. Of these, HEPA-technology-based devices are dominant owing to their advanced filters, which encompass multiple layers of meshes made out of fine threads of fiberglass. Bombarded with swift-paced air, these filters can dry out all the viruses. The minutest airborne components in the indoor air are captured by these filters, thus curbing allergies and other lung diseases. In addition, they can even capture the minute 0.125-micron COVID-19 virus.
A greater adoption of advanced ventilation technologies will encourage the air purifier market players to adapt to the shifting market dynamics. Without using any filter, negatively and positively charged ions are leveraged by ionizers to not only remove the tiny allergens but also improve the air quality, by purifying the air. The cost of ionizing-technology-enabled purifiers ranges from a minimum of $30 to a maximum of $300, depending on the model, size, and brand. Apart from reducing the air pollution levels, this technology also causes less noise pollution at the lowest possible operational costs.
Under the application segment, by holding an around 20% share, the residential category occupied a significant position in the air purifier market in 2021. Additionally, it is projected to advance at the highest compound annual growth rate owing to the rising adoption of smart homes and green buildings, accompanied by a surging awareness of diseases resulting from deteriorated air among people. Owing to their enhanced performance, lower weight, lower costs, and higher reliability, HEPA-technology-enabled air purifiers are extensively used in houses.
In 2021, approximately 40% of the total revenue in the air purifier market was generated by APAC. This can be attributed to the extensive industrialization, swift urbanization (and subsequently rising disposable income), and growing population. All of this goes hand in hand with the deteriorating air quality levels, especially in Pakistan, Bangladesh, and India, where the pollution levels exceed by a minimum of ten times, as mentioned in the IQAir report of air quality.
