Global air purifier market to grow at a CAGR of 13.5% until 2027: Polaris Market Research – MEP MiddleEast

Global air purifier market to grow at a CAGR of 13.5% until 2027: Polaris Market Research – MEP MiddleEast

The global air purifier market size, which was valued at $10.15bn in 2019, is anticipated to grow at a CAGR of 13.5% between 2020 and 2027, according to Polaris Market Research.

Rising health concerns due to the deteriorating air quality and rising awareness pertaining to it, increasing inclination towards preventive healthcare, and technological advancements achieved resulting in development of advanced products are some of the factors that have greatly benefitted the market growth in the past and is expected to do so until 2027.

Competitive strategies adopted by market participants is also one of the important factors propelling market growth. Companies have undertaken customised research in order to create products that perfectly match the respective regional needs. Diversification of product portfolio along with support at each step of the value chain is a key concern for industry participants.

Some of the key industry participants operating in the market include Hamilton Beach Brands Inc, Daikin, Holmes Products Corp, Unilever, Hitachi Power Solutions Co Ltd, Toshiba International Corporation, LG Electronics Inc, Panasonic Corporation, Koninklijke Philips NV, and Honeywell International Inc, among others.

The COVID outbreak has also introduced significant market opportunities to industry participants. Manufacturers are ramping their production as well as product portfolio as