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.
APAC, which includes economies like China, India, South Korea, Japan, and Australia, holds the dominant air purification market, mainly due to rapid urbanization, industrialization, and a growing population with high disposable income. The region is witnessing an increased adoption of air purification systems, driven by rising air pollution levels, especially in countries like India and China. In South Korea, urbanization, industrialization, and political action have adversely affected the ecological balance and worsened air quality. This has increased awareness of health hazards and illnesses caused by exposure to harmful particles, thus creating a favorable environment for the air purification market to grow in the region.
In 2021, Asia Pacific recorded the highest carbon dioxide emissions of 17.74 billion tons, surpassing other regions. This highlights the impact of burning on the environment as it releases carbon dioxide and other harmful gases. The growth of the air purification market in the region is supported by factors such as the increasing use of indoor air quality monitoring equipment, government initiatives like India's Clean Air Challenge, and public and private investment. India, for instance, has a high number of the most polluted cities globally, and over 1.7 million deaths were attributed to air pollution in 2019, leading to a rise in the adoption of clean air technology.
The air purification market is experiencing an uptick in growth due to the rapid industrialization and urbanization in China, resulting in high levels of pollution in major cities. In response, the Ministry of Environmental Protection has set strict anti-pollution targets for 28 cities around Beijing and mandated the installation of air purifiers in most residential, commercial, and industrial buildings in these areas. This has contributed to the growth of the air purification market in these countries.
In recent years, major air purification market players have launched products with new technologies and features, updated their existing product portfolios, and expanded their geographical operations to remain competitive. For instance:
The COVID-19 pandemic significantly influenced the air purification market in APAC countries such as India and China. The lockdowns and slowdown of industrial activities disrupted the supply chain of various raw materials and goods. Prior to the pandemic, the adoption of Air Purification was rapidly increasing due to the growth in construction activities. However, the pandemic had a considerable effect on business dynamics during the first half of 2020, with the shutdown of manufacturing industries, supply chain disruptions, and low consumer confidence being some of the primary consequences of the outbreak. Therefore, the initial impact of the pandemic on the air purification market was negative.
As lockdown measures eased in 2021, manufacturing businesses resumed their operations, leading to a resurgence in production facilities. Advancements in metal and woodworking machinery have opened up profitable opportunities and solutions for the air purification market. The market is witnessing increasing investments in thin-cutting saw blades with blade widths of 6 to 50 mm for sawmills. Additionally, the rising use of food saws in the food industry for cutting fresh meat, bones, frozen meat, fish, and vegetables is expected to drive growth in the air purification market in Asia Pacific during the post-pandemic era.
The air purification market has been analyzed based on two main segments: product type and application. The product type segment includes Activated Carbon Filtration, High-efficiency Particulate Air (HEPA), Ionizer Purifiers, and Ultraviolet Germicidal Irradiation (UVGI). The application segment is categorized into commercial, residential, and industrial.
Key Findings of Study
The surge in airborne diseases, adoption by the industrial sector, and supportive governmental regulations for air quality are among the key drivers contributing to the growth of the air purification market in the Asia Pacific. With the increase in construction projects and industrial activities, the countries in the Asia Pacific region are more susceptible to airborne diseases. In 2021, according to the World Air Quality Report, none of the cities in India met the prescribed air quality standards set by the World Health Organization, which is five micrograms per cubic meter. Moreover, the report stated that 35 of the world's top 50 most polluted cities are in India.
The market dynamics of the air purification industry are being reinforced by the increasing efforts of major players to introduce new products during the projected period. An example of this is the plan of Israel-based manufacturer, Aura Air, to launch a smart air management platform in India in April 2022. These air purifiers are capable of detecting, capturing, and eliminating up to 99.9% of viruses, bacteria, and mold, as well as removing airborne particles. Moreover, these IoT-enabled devices can be connected to mobile phones and provide real-time updates for both indoor and outdoor applications. Hence, such factors are expected to support the growth of the air purification market over the forecast period.
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