SAN ANTONIO, TX March 3, 2020 -- The Chinese air treatment systems market was valued at over $3.5 billion dollars in 2020. The market is expected to witness a growth rate of over 5.0 percent over the next seven years, according to a new report by Verify Markets.
The COVID-19 pandemic did not create a spike in sales for air treatment systems like it did in several Asian markets and the United States. Consumers in China typically relate hazy weather and PM2.5 as the main pollutants for air purification, not COVID-19. Additionally, the government advised the Chinese people to keep their windows open in order to control the spread of the virus.
Innovation and timely solutions to address pressing concerns during the COVID-19 pandemic are key factors that help drive air purifier sales. Several companies, for instance Xiaomi, Sharp, and Panasonic, have introduced air treatment systems with sterilizing and disinfecting claims since the COVID-19 pandemic hit the nation. In 2020, many companies shifted their focus to claims related to formaldehyde removal, sterilization, and disinfection. Most companies typically offer promotional discounts throughout the year for e-commerce purchases and at retail outlets.
Key market drivers include poor air quality, a rise in pollution related illnesses, increasing consumer awareness on indoor air quality, and increasing health and quality-conscious consumers in China. Key challenges in this market include a competitive market and government policies and initiatives to reduce the amount of air pollution.
Many companies in the Chinese air treatment systems market are diversifying their product portfolio by adding new products at multiple price points. In this sense, companies are increasingly expanding their reach to offer a little of everything for everyone.
Xiaomi Corporation and Dyson Ltd. are gaining traction in the market. The success of Xiaomi and Dyson are attributed to diverse products and strategic partnerships with e-commerce giants. “Companies in China are promoting smart and innovative air treatment systems to cater to the demands of an increasing number of tech savvy customers. IoT is being rapidly adopted in home appliances and consumer durable products, including air treatment systems,” notes Shilpa Tiku, Chief Research Officer at Verify Markets.
Products priced over $700.00 were extremely popular in 2020. Sales from the e-commerce channel were the most popular, and products that covered 351-450 square feet made up the majority of sales by revenue in 2020.
The report provides an in-depth analysis of the overall air treatment systems market in China. The report also captures market information on market dynamics like growth drivers, restraints, market revenues and forecasts, technology trends, pricing trends, distribution trends, market share by coverage area, sales by application, and the competitive landscape. The base year for the study is 2020 and the forecasts are until 2027. Some of the key companies in this market include Koninklijke Philips N.V., Xiaomi Corporation, Panasonic Corporation, Dyson Ltd., Sharp Corporation, Beijing YADU Environmental Protection Technology Co., Ltd, Blueair AB, A. O. Smith Corporation, and others.
Verify Markets’ research methodology consists of extensive primary interviews with key participants in the industry along with analysis of secondary resources to validate information. For more information on this report and other research (including custom reports and consulting), contact email@example.com or call +1 210.595.9687.