The global residential air purifier products market was valued at USD 3.2 billion in 2022 and is projected to expand at a CAGR of 11.8% from 2023 to 2030. The residential air purifier products market is driven by the rising health consciousness among consumers, increasing awareness about indoor air pollution, and growing industrialization in developing countries. The rising health consciousness among consumers coupled with the increasing awareness of indoor air pollution is propelling the demand for residential air purifier products.

The market is further driven by the increasing presence of air purifier products in the residential sector. The introduction of advanced air purifier product technologies such as HEPA filters, activated carbon filters, and ozone purifiers is further boosting the growth of the residential air purifier products market. Additionally, the increasing demand for air purifiers with advanced features such as air quality sensors, Wi-Fi connectivity, and voice control is driving the growth of the market.

Furthermore, the development of energy-efficient air purifier products is another major factor driving the market growth. For instance, in November 2021, Coway launched a new air purifier with advanced sensors and an energy-saving system that automatically adjusts the fan speed according to the air quality and room size. The increasing awareness of air purifier products among consumers in emerging economies is further propelling the market growth.

The rising popularity of smart home products is also driving the demand for residential air purifier products. The increasing adoption of smart home technology is leading to the development of air purifier products with advanced features such as Wi-Fi connectivity and voice control. Additionally, the presence of air purifier products in the commercial sector is further bolstering the market growth. The increasing demand for air purifier products in the commercial sector is attributed to the rising awareness of indoor air pollution and the need for clean air in offices, shopping malls, and other commercial spaces.

Moreover, the market is further driven by the increasing popularity of portable air purifiers. The increasing demand for these products is attributed to their convenience and portability. For instance, in March 2022, Samsung launched a new portable air purifier, the Jet 90, which is equipped with advanced features such as Dual-Fan technology and air quality sensors. Furthermore, the presence of a number of leading players in the market is driving the market growth.

The HEPA air purifier segment accounted for the largest market share of 38.3% in 2022. HEPA air purifiers are designed to capture airborne pollutants like dust, pet hair, mold spores, and pollen from the air. They are effective in removing 99.7% of airborne particles with a size of 0.3 microns or larger. The growing awareness of air pollution levels and the need for clean indoor air has been driving the demand for HEPA air purifiers over the years.

The activated carbon air purifier segment is expected to expand at the fastest CAGR of 8.5% over the forecast period. Activated carbon air purifiers are used to remove harmful gases, odors, and volatile organic compounds (VOCs) from the air. According to a study published by the Environmental Protection Agency (EPA), in 2019, indoor air can be up to five times more polluted than outdoor air. This is expected to drive the demand for activated carbon air purifiers in residential settings. Moreover, the growing demand for energy-efficient and cost-effective air purifiers is also expected to drive the market growth.

The supermarkets and hypermarkets segment dominated the market with a share of more than 35% in 2022 owing to the widespread availability of residential air purifiers in these stores. The presence of these outlets in high-traffic areas provides an increased convenience to customers, allowing them to purchase the product of their choice with ease. Furthermore, customers can inspect the product before making a purchase, which is likely to drive the segment.

The online segment is anticipated to witness the highest CAGR of 11.9% over the forecast period. The growing penetration of the internet and the availability of the product on various e-commerce websites such as Amazon, Flipkart, and others is driving the segment. Additionally, online retail stores offer several discounts and promotions, which is likely to attract more customers to purchase the product from these stores. Furthermore, manufacturers are focusing on expanding their presence in the online market by launching their own websites and selling the product directly to customers.

The portable air purifiers segment accounted for the largest share in 2020 and is estimated to maintain its dominance over the forecast period. Portable air purifiers are easy to install and are mostly used for single rooms. These purifiers are portable and can be shifted from one place to another due to their lightweight. Furthermore, with the increasing disposable income and the growing awareness about air quality, consumers are opting for air purifiers as it helps in providing clean air, which has resulted in the segment’s growing demand.

The fixed air purifier segment is expected to register the fastest CAGR of 6.9% during the forecast period. Fixed air purifiers are installed in the ceiling or wall of the room and are mostly used in large areas such as offices. This segment is expected to register the fastest CAGR owing to the increasing demand for air purifiers in residential and commercial places due to growing awareness about air pollution.

Asia Pacific dominated the market and accounted for the largest revenue share of over 40.5% in 2022. Increasing air pollution levels in countries such as China, India, and Japan are expected to be a key factor driving the growth of the market in the region. According to the World Health Organization, air pollution levels in China increased by 8.8% from 2017 to 2018. The rising need for residential air purifier products to protect the health of consumers is expected to fuel the market in Asia Pacific.

Europe is expected to witness the second-fastest growth in the coming years. Governments in the region are implementing stringent regulations to control air pollution levels, which is expected to drive the growth of the market. According to the European Environment Agency, in 2018, air pollution levels were below the legal limit for almost all pollutants in the region. Moreover, the rising awareness about the air quality among consumers is expected to drive the growth of the market in the region.

In this part of the residential air purifier products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for the business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main sources of revenues for a residential air purifier products business come from the sale of the air purifiers, associated services such as installation and maintenance, and other possible sources of profit such as warranties and product upgrades.

Projecting Expenses
In this section, all the regular expenses related to keeping the residential air purifier products business running will be described. The list of operating expenses includes marketing, advertising, rent, wages, materials, supplies, utilities, insurance, and others.

Some of the key companies operating in the residential air purifier market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In April 2022, Honeywell launched the True HEPA Allergen Remover, a new air purifier that can capture up to 99.97% of airborne allergens as small as 0.3 microns.

– In June 2022, Sharp Corporation launched the Plasmacluster Air Purifier, a new air purifier that uses a combination of filtration and ionization technology to capture up to 99.97% of airborne particles.

– In August 2022, Coway launched the Airmega air purifier, a new air purifier that uses a combination of air filtration and air circulation technology to capture up to 99.9% of airborne particles.

Some of the prominent players in the residential air purifier market include:

– Honeywell International Inc.
– Panasonic Corporation
– Sharp Corporation
– Coway Co., Ltd.
– Whirlpool Corporation
– Dyson Ltd.
– Winix, Inc.
– Philips Electronics N.V.
– Daikin Industries, Ltd.
– The Midea Group Co., Ltd.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global residential air purifier products market based on technology, filter type, distribution channel, and region:

1. Technology Outlook (Revenue, USD Million, 2017 – 2030)
– HEPA Filters
– Activated Carbon Filters
– Ion & Ozone Generators
– Ultraviolet Germicidal Irradiation

2. Filter Type Outlook (Revenue, USD Million, 2017 – 2030)
– Replacement Filters
– Permanent Filters

3. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Offline

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Key Drivers of the Residential Air Purifier Products Market?
[A]: Growing awareness of air pollution, increasing health consciousness, and rising disposable income are the key drivers of the residential air purifier products market. The global market has seen an upsurge in demand due to the increasing awareness of air pollution and the need to reduce indoor air pollution.

[Q]: What are the Key Applications of Residential Air Purifier Products?
[A]: Residential air purifier products are mainly used for residential purposes in residential homes and apartments. Additionally, they are also used in commercial establishments such as hotels, offices, and restaurants.

[Q]: Which Regions are the Major Consumers of Residential Air Purifier Products?
[A]: Asia Pacific is the major consumer of residential air purifier products, followed by North America, Europe, and the Rest of the World.

[Q]: What are the Major Technological Advancements in Residential Air Purifier Products?
[A]: Major technological advancements in residential air purifier products include the introduction of advanced sensors, intelligent air purifying technology, and Wi-Fi connectivity. These advancements have enabled better air quality and convenience for users.

[Q]: Who are the Key Players in the Residential Air Purifier Products Market?
[A]: Some of the key players in the residential air purifier products market include Daikin Industries Ltd., LG Electronics Inc., Panasonic Corporation, Sharp Corporation, Samsung Electronics Co. Ltd., and Honeywell International Inc.