May 19, 2015: US Air Purifiers Market Poised to Grow at 10 Percent CAGR to 2020
Increasing Air Pollution, High Disposable Income, and Improving Consumer Lifestyle to Drive Market
BURNABY, British Columbia — The U.S. air purifiers market is projected to register a compound annual growth rate (CAGR) of around 10 percent from 2015 to 2020, according to the TechSci Research report “United States Air Purifiers Market Forecast & Opportunities, 2020.”
The United States air purifiers market is emerging as one of the largest markets, globally, due to degrading air quality because of rising vehicular pollution and increasing concerns of consumers regarding air contamination, says the report. Over the last few years, the health care and hospitality sectors have emerged as the major commercial target segments for companies offering air purifiers in the U.S. However, demand from the residential and industrial segments is also growing at a fast pace owing to high income levels and rising hygiene concerns.
There are four major types of filter technologies available in the air purifiers market: high-efficiency particulate arrestance (HEPA), activated carbon, ion and ozone generator, and electrostatic precipitator. The largest market share is currently held by HEPA-based air purifiers. Over the next five years, the country’s air purifiers market is expected to continue to be dominated by HEPA-based air purifiers, followed by activated carbon, electrostatic precipitator, and ion and ozone generator technology. An increasing number of leading real estate developers are offering HVAC air purification systems in luxury apartments, corporate offices, health care institutions, educational buildings, etc.
“Presently, the high prices of air purifiers are the major challenge restricting higher adoption. Consequently, major air purifier manufacturers are increasingly focusing on adopting vertical integration to secure better control over the entire value chain and lower overall expenditure. These developments are expected to drive the market for air purifiers in the U.S. in the coming years,” said Karan Chechi, research director with TechSci Research.
For more information on this market research report, click here.
Publication date: 5/18/2015