NEW YORK , Aug. 29, 2022 /PRNewswire/ -- The "Portable Air Purifier Market Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the portable air purifier market between 2021 and 2026 is USD 5.84 billion, as per the latest market analysis report by Technavio. Technavio categorizes the global portable air purifier market as a part of the global household appliances market. Our report provides extensive information on the value chain analysis for the portable air purifier market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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Market Driver: One of the key factors driving the global portable air purifier industry growth is the incorporation of advanced technologies in air purifiers. The availability of air purifiers for outdoor environments is expanding due to the rising popularity of small, portable air purifiers that are about the size of a travel mug. The creation of portable air purifiers with displays for temperature, humidity, and air quality is anticipated to help the market expand. In August 2020 , LG Electronics unveiled the PuriCare Wearable Air Purifier, which provides both indoor and outdoor clean and fresh air.
Market Challenge: One of the key challenges to the global portable air purifier industry growth is the presence of counterfeit products, especially in developing regions. The demand for counterfeit products is increasing owing to their low cost, as they are made of low-quality raw materials and have less durability. the availability of counterfeit products adversely affects the sales and pricing strategies of market vendors by diluting their market shares and damaging their reputation. Advertising and promotional campaigns help key vendors retain and attract customers and ensure their loyalty toward brands. However, such promotional activities are expensive and reduce the profit margins of vendors. Thus, the presence of counterfeit products may limit the growth of the market during the forecast period.
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The portable air purifier market report is segmented by Application (Residential and Commercial) and Geography (APAC, North America , Europe , South America , and Middle East and Africa ).
Regional Opportunities: 35% of the market's growth will originate from APAC during the forecast period. China , Japan , and India are the key markets for portable air purifiers in APAC. Market growth in this region will be faster than the growth of the market in the Middle East and Africa. The increased introduction of global brands and products in the market, the rising adoption of premium and technologically advanced air purifiers, the growing knowledge and awareness about air purifiers and their benefits, and the development of the commercial sector will facilitate the portable air purifier market growth in APAC over the forecast period.
Revenue-generating Segment Highlights: The portable air purifier market share growth in the residential segment will be significant during the forecast period. The growth of the segment is attributed to the supportive government regulations for effective air pollution monitoring and control, the growing popularity of smart homes, increasing public-private funding for effective air pollution monitoring, rising levels of air pollution worldwide, and increasing public awareness about the health and environmental consequences of air pollution.
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Portable Air Purifier Market Scope
Accelerate at a CAGR of 10.27%
APAC, North America, Europe, South America, and Middle East and Africa
US, Canada, China, Japan, and UK
Leading companies, competitive strategies, consumer engagement scope
Airfree Produtos Electronicos SA, Austin Air Systems Ltd., Blue Star Ltd., Coway Co. Ltd., Daikin Industries Ltd., Dyson Ltd., Guardian Technologies LLC, Haier Smart Home Co. Ltd., Honeywell International Inc., Koninklijke Philips NV, Panasonic Corp., Real Spirit USA Inc., Sharp Corp., Unilever PLC, Vesync Co. Ltd., and Whirlpool Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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