Report : South America 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 9.6% CAGR, the South America Air Purification Market is speculated to be worth US$ 2,693.96 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South America air purification market was valued at US$ 1,557.14 million in 2022 and is expected to reach US$ 2,693.96 million by 2028, registering an annual growth rate of 9.6% from 2022 to 2028. Rising urbanization and industrialization propelling market growth.
The demand for air purification products comes from emerging countries wherein investment prospects and the increase in the adoption of air purifiers give a positive outlook for the market. The emerging countries are ongoing rapid urbanization and industrialization, along with a growing population with increased disposable income, creating a potential opportunity for air purification products. The FDI Equity inflow in Manufacturing Sectors increased 76% in FY 2021-22 to US$ 21.34 billion compared to FY 2020-21 to US$ 12.09 billion. Thus, such growth prospects in the manufacturing sector are bringing the need for a healthy and safe working environment for the workers, further accelerating the air purification market over the forecast period. Thus, such growth prospects in 2021 are further anticipated to bring more lucrative opportunities for air purification manufacturers during the forecast period. This is expected to drive the market during the forecast period.
On the contrary, affordable substitutes hamper hurdles the growth of South America air purification market.
Based on product type, the South America air purification market is categorized into activated carbon filtration, HEPA, ionizer purifiers, UVGI, and others. The HEPA segment held 38.6% market share in 2022, amassing US$ 601.72 million. It is projected to garner US$ 922.75 million by 2028 to expand at 7.4% CAGR during 2022–2028.
Based on application, the South America air purification market is categorized into commercial, residential, and industrial. The commercial segment held 41.8% market share in 2022, amassing US$ 650.60 million. It is projected to garner US$ 1,050.16 million by 2028 to expand at 8.3% CAGR during 2022–2028.
Based on country, the South America air purification market has been categorized into the Brazil, Argentina, and Rest of South America. Our regional analysis states that Brazil captured 42.0% market share in 2022. It was assessed at US$ 654.00 million in 2022 and is likely to hit US$ 1,196.96 million by 2028, exhibiting a CAGR of 10.6% during the forecast period.
Key players dominating the South America air purification market are Whirlpool Corporation; Camfil; DAIKIN INDUSTRIES, Ltd.; Honeywell International Inc.; Koninklijke Philips N. V; LG Electronics; Panasonic Corporation; Unilever PLC; LLC.; and IQAir among others.
In June 2020, Camfil New Product - Portable Air Purifier Launch for COVID-19.
In Nov 2019, LG Electronics LG INTRODUCES POWERFUL PORTABLE AIR PURIFIER FOR ENHANCED PEACE OF MIND.
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