Report : Europe Air Purification Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – By Product Type (Activated Carbon Filtration, HEPA, Ionizer Purifiers, UVGI, and Others) and Application (Commercial, Residential, and Industrial)
At 18.7% CAGR, the Europe Air Purification Market is speculated to be worth US$ 14,144.86 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe air purification market was valued at US$ 5,057.14 million in 2022 and is expected to reach US$ 14,144.86 million by 2028, registering an annual growth rate of 18.7% from 2022 to 2028. Rising urbanization and industrialization across the Europe and stringent government regulations and policies for air pollution control.
The rise in the Europe demand for portable air filters is a key trend proliferating the Air Purification Market. The lifestyle change is directly impacting people's health, augmenting the need for air purification products. A portable air purifier employs a HEPA-13 filter, a carbon filter, and an antimicrobial coating on said filters to prevent bacterial growth. These filters are quite effective and trending in terms of adoption. The rising pollution level and an increasing number of airborne diseases have fueled the demand for portable air filters. According to the Simon Fraser University researchers, a study finds that having a portable air cleaner in the home reduces the negative impacts of air pollution on brain development in children. Ongoing investments in portable air filters are adding the market dynamics to flourish. For instance, in April 2022, Aura Air, a publicly listed company, launched its smart air management platform in India. These IoT-enabled devices connect to a mobile phone and deliver real-time updates on the indoor and outdoor Air Quality Index (AQI). Also, in April 2022, Woosh, a leading technology company focused on improving portable indoor air quality and HVAC performance, raised US$1.3 million in a pre-seed funding round. This smart filter is connected to a home’s Wi-Fi and transmits data to a mobile app. Thus, a rise in the uptake of air purification solutions across various application verticals is anticipated to drive the market over the forecast period. This is expected to drive the market during the forecast period.
On the contrary, usage of low-cost air purifier substitutes hurdles the growth of Europe air purification market.
- Based on product type, the Europe air purification market is categorized into activated carbon filtration, HEPA, ionizer purifiers, UVGI, and others. The HEPA segment held 41.3% market share in 2022, amassing US$ 2,090.89 million. It is projected to garner US$ 8,255.56 million by 2028 to expand at 25.7% CAGR during 2022–2028.
- Based on application, the Europe air purification market is categorized into commercial, residential, and industrial. The commercial segment held 43.2% market share in 2022, amassing US$ 2,182.62million. It is projected to garner US$ 8,320.78million by 2028 to expand at 25.0% CAGR during 2022–2028.
- Based on country, the Europe air purification market has been categorized into the Germany, France, UK, Italy, Russia, and Rest of Europe. Our regional analysis states that Germany captured 33.5% market share in 2022. It was assessed at US$ 1,694.14 million in 2022 and is likely to hit US$ 5,747.58 million by 2028, exhibiting a CAGR of 22.6% during the forecast period.
Key players dominating the Europe air purification market are Whirlpool Corporation; Camfil; DAIKIN INDUSTRIES, Ltd.; Honeywell International Inc.; Koninklijke Philips N. V; LG Electronics; Panasonic Corporation; Unilever PLC; ActivePure Technologies, LLC.; and IQAir among others.
- In Nov 2020, Honeywell Launches New Products to Improve Air Quality in Commercial Buildings.
- In Nov 2019, LG Electronics LG INTRODUCES POWERFUL PORTABLE AIR PURIFIER FOR ENHANCED PEACE OF MIND.
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