San Antonio, Texas -- A new analysis by Verify Markets on 10 countries within the air treatment/air purifier systems market shows that the market has been positively affected by the COVID-19 pandemic. The U.S. air treatment systems market was valued at over $1.3 billion. “The dynamic growth in the U.S. air treatment systems market has resulted in increased competition as more players enter the market to leverage the growing demand. Companies are continually innovating to keep up with growing competition and rapidly the changing market in terms of technologies to meet customer preferences. The U.S. market is seeing technologically advanced and smarter products with sleek designs being launched,” notes Shilpa Tiku, Chief Research Officer and Partner at Verify Markets.
The COVID–19 stay-at-home and social distancing measures severely affected offline sales in 2020 as sales shifted to online modes. However, in 2021, when vaccinations picked up and COVID–19 restrictions were lifted, in-store sales grew significantly. Retail made up an estimated 23.5 percent of sales in 2021 in the U.S. while e-commerce was an estimated 65.6 percent by revenue. Companies with a robust supply chain and strong presence across various distribution channels could withstand the disruptions and performed well in this volatile scenario. Market drivers across most markets include poor air quality, the rise of e-commerce, and the COVID-19 pandemic. Products with coverage area 301 - 400 sq. ft. made up an estimated 35.1 percent of the market in 2021. In the U.S., residential applications were estimated to be over 75.0 percent of sales revenue in 2021.
Globally, HEPA is the key technology currently being provided by most companies. Since most units are combination units, there is an overlap in technologies. Most sales across the globe are from residential applications, although the commercial sector has been gaining traction. Most leading brands across the globe emphasize family health in their marketing communications. Companies target first-time parents and families with young children and people with pets. They target vulnerable groups by highlighting benefits. Singapore, Indonesia and Hong Kong are high growth markets and are expected to witness a double digit growth rate of over 10.0%.
South Korea and Malaysia are rental markets. The market in Korea was valued at over $1.1 billion in 2021 and in Malaysia was over $250.0 million. Products in Malaysia and Korea are premium products and technologically advanced, which makes renting an attractive option for consumers versus purchasing. A shift towards the health and wellness trend, and COVID – 19, has increased awareness about air treatment systems for customers in South Korea and Malaysia. In December 2021, major rental player Coway launched “Coway Gallery” to provide its customers with a brand experience. Customers can experience Coway’s products, technology, and design. This gives customers a chance to engage with the products and increase brand awareness.
Chinese giant Xiaomi Corporation has been gaining traction in Thailand, while Dyson has been gaining share across several markets in the APAC region. In China, HEPA filters dominate the air purification technology across brands. Sharp and Panasonic target multiple segments of people and are priced from low to high-end. E-commerce makes up 63.0 percent of sales in China and products with coverage area from 351 - 450 sq. ft. had an estimated 35.0 percent market share in 2021.
These reports provide an in-depth analysis of the overall air treatment systems market in 10 countries that include U.S., China, Thailand, South Korea, Japan, Malaysia, Indonesia, Singapore, Taiwan, and Hong Kong. These reports capture market information on market dynamics like growth drivers, restraints, market revenues, forecasts, technology trends, pricing trends, distribution trends, market share by coverage area, sales by key areas, and the competitive landscape. They base year for the study is 2021 and the forecasts are until 2028.
Some of the key companies in this market include Dyson Ltd., Sharp Corporation, Panasonic Corporation, Koninklijke Philips N.V., The 3M Company, Blueair AB, Daikin Industries, Ltd. Hitachi Asia Pacific Co., Ltd., Alen Corporation, LG Corporation, Coway Co., Ltd. NOVITA SG PTE LTD, Newell Brands Inc, and others.
A copy of each country report be purchased at www.verifymarkets.com. Follow us for more updates on Twitter @verify_markets. This report is part of Verify Markets’ Aromatherapy, Diffuser, and Air Purifier Subscription market research and consulting practice.
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