LONDON--(BUSINESS WIRE)--The global air treatment market is expected to post a CAGR of almost 8% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The air treatment market is expected to witness significant growth in emerging markets such as APAC, MEA, and Latin America during the forecast period. This is due to the rise in air pollution levels led by factors such as rapid urbanization and the growth of steel, automotive, and construction industries in these regions. In addition, with rising disposable incomes and growing awareness about health, the consumer spend on goods such as air purifiers, humidifiers, and dehumidifiers has increased significantly. These factors are expected to provide growth opportunities for market vendors in emerging markets.
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As per Technavio, the growing popularity of smart air purifiers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Global Air Treatment Market: Growing Popularity for Smart Air Purifiers
Smart air purifiers provide detailed information about the composition of air, types of impurities, toxicity levels, and the frequency at which air is monitored. This allows end-users to track and control air quality through the help of a smartphone app. Growing popularity of air purifiers is encouraging many market vendors to introduce technologically advanced smart air purifiers. For instance, some vendors are introducing WiFi-enabled air purifiers with heating and cooling options. The development and introduction of such innovative air treatment technologies will have a positive impact on the growth of the global air treatment market.
“Increasing use of robotics in air treatment products and the integration of AI technology in air treatment products will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Air Treatment Market: Segmentation Analysis
This market research report segments the global air treatment market by product (air purifier, dehumidifier, and humidifier) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the air treatment market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth. This is due to factors such as rapid urbanization and industrialization in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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