With the increasing air pollution across the globe, people are becoming more and more aware and concerned about the ill-effects of the air they are inhaling. Air pollution leads to health problems such as asthma and allergies. Rising demand for automobiles across the world, growth in infrastructural activities, and rapidly increasing urbanization and industrialization have led to the huge demand of air purification systems in order to purify and get better quality of air. Moreover, implementation of strict laws and regulations pertaining to toxic emissions and growing demand from various end-user industries is boosting the growth of the global market for air purification systems market.
Drivers and Restraints
The growth of the worldwide market for air purification systems can be primarily attributed to the following factors:
- Rising health problems due to air pollution
- Increasing urbanization and industrialization
- Enforcement of strict laws and regulations by governments pertaining to toxic emissions
- Increased income and spending capacity of people
- Rising demand from various end-use sectors
Moreover, growing awareness and concerns regarding environment and the emerging market in Asia-Pacific is expected to further boost the growth of this market. However, factors like high prices that are limiting consumption and positioning of air purification systems as luxury goods are hampering the growth of this market. Also, the ever-changing consumer requirements are leading to the high costs of R&D activities for the new entrants in this market.
Market Trends and Forecasts
The size of the global air purification systems market which was estimated be USD 14.46 Billion in 2015 is projected to reach USD 20.65 Billion by the end of 2020, growing at a CAGR of 7.38% during the period under consideration. Among regions, Asia-Pacific is expected to grow at a rapid pace, owing to increasing urbanized population in China and India coupled with growth in disposable income and growing concerns regarding the negative effects of air pollution on health. In addition, rapid industrialization and enforcement of strict laws regarding toxic emission control are also boosting the growth of this market in APAC region.
Among product, the dust collector segment is expected to gain maximum traction over the forecast period, owing to the huge demand for dust collectors, which are a significant part of the air purification systems market. Based on end-users, the automotive sector held the maximum share of the market in 2014, and it is also projected to be the fastest-growing segment between 2015 and 2020, thanks to rising demand for automobiles across the globe and increasing awareness regarding the indoor air quality of automobiles. Based on technology, HEPA is expected to witness the fastest growth during the forecast period.
The global market for air purification systems comprises players such as Honeywell International Inc. (U.S.), 3M Company (U.S.), Sharp Corporation (Japan), Daikin Industries, Ltd. (Japan), and Air Products and Chemicals, Inc. (U.S.), Clean Teq Holding Limited (Australia), and Mann+Hummel GmbH (Germany), among others.
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Scope of the Research
The forecast and analysis of the global market for air purification systems has been done by breaking it down into the following segments and sub-segments:
- Product: Dust Collectors, Fume & Smoke Collectors, Vehicle Exhaust, Mist Eliminators, Fire/Emergency Exhaust, Others
- Technology: HEPA, Electrostatic Precipitator, Activated Carbon, Ionic Filters, Others
- End-Use Sector: Automotive, Construction, Healthcare & Medical, Energy & Utilities, Manufacturing, Others (including residential, education, aviation, and hospitality sectors)
- Geography: North America, Europe, Asia-Pacific, RoW
Summary
Rising demand from end-user industries is majorly driving the growth of the global air purification systems market.
