Global Commercial Fans and Air Purification Equipment Market to 2031 – With Honeywell International, Carrier and Hitachi, among others – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Commercial Fans and Air Purification Equipment Market Report 2022” report has been added to from ResearchAndMarkets.com offer.

This report provides strategists, marketers, and senior management with the critical information they need to assess the global Commercial Ventilators and Air Purification Equipment market emerging from the COVID-19 lockdown.

The global commercial ventilator and air purification equipment market is expected to grow from $66.1 billion in 2021 to $73.24 billion in 2022 at a compound annual growth rate (CAGR) of 10.8% . The market is expected to reach $105.96 billion in 2026 at a compound annual growth rate (CAGR) of 9.7%.

Companies cited

  • Honeywell International Inc.

  • Panasonic Company

  • Transport company

  • Hitachi Ltd.

  • Sharp Corporation

  • 3M Company

  • Regal Beloit Corporation

  • SPX FLOW Inc.

  • Illinois Tool Works Inc.

  • Helen of Troy Ltd.

Reasons to buy

  • Get a truly global perspective with the most comprehensive market report available covering over 50 geographies

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  • Identify growth segments for investment

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The commercial fans and air purification equipment market includes sales of commercial fans and air purification equipment by entities (organizations, sole proprietorships and partnerships) that produce commercial and industrial fans and air purification equipment such as industrial dust and fume collection equipment, hot air electrostatic precipitation, hot air furnace filters, air washers and other dust removal equipment, attic fans and industrial and commercial fans and blowers, such as commercial exhaust fans and commercial ventilation fans.

The main types of commercial fans and air purification equipment are air purification equipment, attic and exhaust fans, and other types. Air purification equipment refers to machines that purify impure air into clean air. Different technologies include high-efficiency particle absorption/absorption (HEPA, activated carbon, electrostatic precipitator, ultraviolet (UV) light air purifier, ion air purifier and other technologies. Different capacities are small, medium and large.

Asia-Pacific was the largest region of commercial ventilators and air purification equipment in 2021. Western Europe was the second largest region of commercial ventilators and air purification equipment. Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Technological advancements in commercial fans and air purification equipment have boosted the market over the historical period. Increased internet access and the use of smart phones have supported the development and consumption of innovative home appliances.

Around 4.49 billion people worldwide had internet access in 2019, 4.33 billion were active internet users, and there are 3.9 billion unique mobile internet users worldwide. Additionally, the growing integration of the Internet of Things (IoT) with devices has enabled customers to connect to their devices over the Internet and remotely control essential tasks by collecting data. Thus, advancements in technology have boosted the air purifier market in the historical period.

High adoption and maintenance costs are expected to limit the growth of the air purifier market. Air purifiers are considered premium products due to their high cost of adoption in both developed and developing countries. According to consumer reports, air purifiers range from $200 to $900 and maintenance is high due to changing filters two or three times a year, and some air purifiers have multiple filters.

For example, if you consider the average activated carbon filter air purifier that eliminates bad odors on the market, the filter must be replaced every three months to be effective, which costs $50, then there is has an additional main filter cost that ranges from $20 to $200 each. The Honeywells Air Touch S8 is a HEPA-based air purifier that costs around $500 (INR 36,000) in India and is a multi-filter air purifier. The filter needs to be replaced every 4 months which costs $40 (INR 3000) each time. Hence, high adoption and maintenance costs are expected to affect the growth of the air purifier market.

The growing popularity of smart air purifiers is a major market trend. With increasing air pollution around the world, growing awareness of allergies, pollution and climate change is increasing consumer concern about the quality of the air they breathe. As a result, air purifiers are gaining popularity. Smart air purifiers are devices connected to other devices through the Internet and other technologies such as Bluetooth, Near Field Communication (NFC), and Wi-Fi.

The rise of Internet of Things (IoT) technology is also supporting the development of smart air purifiers. Smart air purifiers allow air quality to be monitored and managed from a smartphone app, which provides a live readout of quality data.

For more information on this report, visit https://www.researchandmarkets.com/r/2ngcap

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