Air Purification Market Projected to witness Vigorous Expansion by 2022-2028
According to the new research report, titled "Air Purification Market Forecast to 2028 – COVID-19 Impact and Global Analysis," published by The Insight Partners, the air purification market is expected to reach US$ 73,437.36 million by 2028, registering a CAGR of 17.7 % from 2022 to 2028. The rapid adoption of indoor air quality monitoring equipment, increasing public and private funding and investment, and the presence of supportive government legislation, such as India's Clean Air Challenge to Combat Air Pollution, all contribute to the revenue growth of the air purification market. For example, India has 22 of the 30 most polluted cities worldwide, and about 1.7 million Indians died from air pollution in 2019. This gained momentum and led to the adoption of clean air technology.
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The List of Companies - Air Purification Market
- Whirlpool Corporation
- DAIKIN INDUSTRIES, Ltd.
- Honeywell International Inc.
- Koninklijke Philips N.V.
- LG Electronics
- Panasonic Corporation
- Unilever PLC
- ActivePure Technologies, LLC.
Moreover, rapid industrialization and urbanization have resulted in high pollution levels in major cities across China. The Ministry of Environmental Protection has imposed stringent anti-pollution targets on 28 cities around Beijing and increased the number of air purifiers installed in most residential, commercial, and industrial buildings in these cities. Hence, rising pollution levels in the countries are expediting the growth of the air purification market.
The COVID-19 pandemic crisis drastically affected the Air Purification market in APAC countries, such as India and China. Lockdowns and the slowdown of industrial activities across India and China disrupted the supply chain of various raw materials and goods. In the pre-pandemic scenario, Air Purification adoption was rising abruptly, owing to growth in construction activities. However, the pandemic hampered the business dynamics considerably in its starting days in the first half of 2020. In the pandemic, the shutdown of manufacturing industries, disruption of the supply chain, and low confidence of consumers were among the primary implication of the outbreak. Thus, the pandemic impacted the air purification market negatively in the beginning.
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Key Findings of Study
The growth of the air...
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