Air Purifier Market to be Worth $28.8 Billion by 2031

Air Purifier Market Size & Forecast

The Air Purifier Market is expected to reach $28.8 billion by 2031, at a CAGR of 8.9% from 2024 to 2031. The growth of this market is driven by increasing urbanization & indoor air pollution levels, the rising demand for energy-efficient air purifiers, increasing public awareness regarding the health risks related to poor air quality, and government initiatives to improve air quality. Moreover, the rising adoption of air conditioners with inverter & air purification technologies and technological advancements in consumer electronics are expected to generate growth opportunities for the players operating in this market.

Air Purifier Market Growth Drivers

Increasing Urbanization & Indoor Air Pollution Levels Supporting the Growth of the Air Purifier Market

Rapid urbanization has led to increased air pollution levels. Air pollution has been progressively recognized as a serious problem for cities, with hazardous effects on public health and well-being. Cities are hubs for transportation and industry, with high emissions of pollutants like nitrogen oxide, particulate matter (PM2.5), and Volatile Organic Compounds (VOCs). These pollutants are present in outdoor environments but also infiltrate buildings through windows, ventilation systems, and cracks.

As urbanization continues, addressing indoor air pollution has become even more critical. Hence, market players are constantly innovating and launching air purifiers to tackle this issue. For instance, in May 2021, Daikin Industries Ltd. (Japan) launched two new series of air purifiers for the Middle East & Africa region to enhance Indoor Air Quality (IAQ) and comfort levels for residential, commercial, and industrial customers. Such developments are supporting the growth of the air purifier market.