Report Ocean published the latest research report on the Air Purification market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Air Purification market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.
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The global air purification market size was US$ 21.9 billion in 2021. The global air purification market is forecast to grow to US$ 41.7 billion by 2030 by registering a compound annual growth rate (CAGR) of 7.9% during the forecast period from 2022 to 2030.
The COVID-19 pandemic upsurged the demand for air purification methods as the disease directly affects the respiratory system. Moreover, a wide range of people are suffering from respiratory ailments, and they were more prone to getting affected by the COVID-19 patients. Thus, the demand for air purification increased abruptly to save those. The market is forecast to witness ample growth opportunities in the coming years as the COVID-19 pandemic increased awareness about healthy air quality.
Based on the regions, the Asia-Pacific air purification market is forecast to hold the largest market share. It is owing to the rapidly growing population in China and India. Furthermore, the growing prevalence of respiratory diseases is forecast to surge the demand for air purification. In addition to that, countries like India and China were drastically hit due to the wake of the pandemic, which increased awareness among the general public. Thus, it will benefit the global air purification market even in the coming years.
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Air purification methods are widely adopted to improve the quality of air in indoor spaces. Moreover, growing awareness about the necessity of air purification will primarily fuel the growth of the market.
Changing lifestyles and growing health concerns will also surge the demand for air purification in the coming years. In addition to that, deteriorating indoor air quality will escalate the growth of the air purification market during the study period.
The high cost of air purifiers may limit the growth of the market. On the contrary, growing cases of airborne diseases will boost the growth of the air purification market during the forecast period.
Various government bodies are focusing on regulating air pollution. As a result, it will bring various growth opportunities for the industry players. In addition to that, the growing number of air pollution control campaigns undertaken will also benefit the air purification market during the forecast period.
The global air purification market segmentation focuses on Product, Technology, End-Users, and Region.
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What factors are taken into consideration when assessing the key market players?
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