June 14, 2022 09:11 ET | Source: Allied Market Research Allied Market Research
Portland, OR, June 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global smart air purifier market generated $5.5 billion in 2020, and is projected to reach $14.4 billion by 2030, growing at a CAGR of 10.1% from 2021 to 2030.The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Increase in awareness among people regarding adverse effects of pollution on health, remarkable perks of dust collecting smart air purifiers such as high filtering efficiency and low maintenance cost, and significant surge in need to eliminate fine airborne particles and germs in commercial spaces, offices, and homes, including living rooms, bedrooms, kitchens, and bathrooms are expected to drive the growth of the global smart air purifier market. On the other hand, high cost of these products is expected to hinder the growth of the market to some extent. However, increase in manufacturing and construction activities across the globe are expected to create ample opportunities for the growth of the industry.
The report offers a detailed report on the global smart purifiers market based on product type, technology, end-user and region.
Based on product type, the dust collectors segment held the largest market share in 2020, garnering more than half of the total market. In addition, the same segment is predicted to cite the fastest CAGR of 10.5% during the forecast period. Other segments of the market analyzed in the report include fume and smoke collectors and others.
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Based on end-user, the residential segment held the majority market share in 2020, holding nearly two-thirds of the total market. The commercial segment, on the other hand, is projected to exhibit the fastest CAGR of 11.0% during the forecast period.
Based on region, the market across North America held the lion’s highest share in 2020, garnering nearly one-third of the total market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 14.3% during the forecast period.
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The key players analyzed in the global smart air purifier market include Coway Co., Ltd., Dyson Technology Limited, Honeywell International Inc., Levoit, LG Electronics Inc., Xiaomi Corporation, Koninklijke Philips N.V., Sharp Corporation, Unilever PLC (Blueair AB), Winix Inc.
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