Dublin, July 01, 2022 (GLOBE NEWSWIRE) -- The "Commercial Fan And Air Purification Equipment Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global commercial fan and air purification equipment market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest growing market for the commercial fan and air purification equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Commercial Fan And Air Purification Equipment market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider commercial fan and air purification equipment market, and compares it with other markets.
The market characteristics section of the report defines and explains the market
The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery
Market segmentations break down market into sub markets
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers
The commercial fan and air purification equipment market section of the report gives context. It compares the commercial fan and air purification equipment market with other segments of the ventilation, heating, air-conditioning, and commercial refrigeration equipment market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, commercial fan and air purification equipment indicators comparison
Major companies in the commercial fan and air purification equipment market include Honeywell International Inc, Panasonic Corporation, Carrier Corporation, Hitachi, Ltd, Sharp Corporation, 3M Company, Regal Beloit Corporation, SPX FLOW Inc, Illinois Tool Works Inc, and Helen of Troy Ltd.
The global commercial fan and air purification equipment market is expected to grow from $66.1 billion in 2021 to $73.24 billion in 2022 at a compound annual growth rate (CAGR) of 10.8%. The market is expected to grow to $105.96 billion in 2026 at a compound annual growth rate (CAGR) of 9.7%.
The commercial fan and air purification equipment market consists of sales of commercial fan and air purification equipment by entities (organizations, sole traders, and partnerships) that produce commercial and industrial fan and air purification equipment such as industrial dust and fume collection equipment, electrostatic precipitation equipment, warm air furnace filters, air washers, and other dust collection equipment, attic fans and industrial and commercial fans and blowers, such as commercial exhaust fans and commercial ventilating fans.
The main types in the commercial fan and air purification equipment are air purification equipment, attic and exhaust fans, and other types. Air purification equipment refers to the machinery that purifies the unpure air into a pure one. The various technologies include high-efficiency particulate absorption/absorber (HEPA, activated carbon, electrostatic precipitator, ultraviolet (UV) light air purifier, ionic air purifier, and other technologies. The various capacities are small, medium, and large.
The Asia Pacific was the largest region in commercial fan and air purification equipment in 2021. Western Europe was the second largest region in the commercial fan and air purification equipment. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Technological advances in commercial fan and air purification equipment drove the market in the historic period. Increased access to the internet and the use of smartphones supported the development and consumption of innovative technologically enabled appliances.
About 4.49 billion people globally had access to the internet in 2019, 4.33 billion were active internet users and there are 3.9 billion unique mobile internet users worldwide. Further, increasing integration of the Internet of Things (IoT) with appliances allowed customers to connect with their appliances via the internet and remotely control essential tasks by collecting data. Thus, technological advances drove the market for air purifiers in the historic period.
High adoption and maintenance costs are expected to limit the growth of the air purifiers market. Air purifiers are considered premium products due to the high adoption cost in both developed and developing countries. According to consumer reports, air purifiers range from $200 to $900 and the maintenance is high due to the change of filters two or three times a year, and some air purifiers have multiple filters.
For instance, considering the average carbon activated filter air purifier that eliminates bad odors on the market, the filter needs to be replaced every three months to be effective, which costs $50, then there is an additional cost of the main filter which ranges from $20 to $200 each. The Honey wells Air Touch S8 is a HEPA technology-based air purifier that costs around $500 (36,000 INR) in India and is a multiple-filter air purifier. The filter should be replaced every 4 months, which costs $40 (3,000 INR) each time. , Therefore, high adoption and maintenance costs are expected to affect the air purifiers market's growth.
The growing popularity of smart air purifiers is a major trend in the market. With air pollution increasing across the world, a growing awareness of allergies, pollution, and climate change is increasing consumer concern about the quality of the air they breathe. As a result, air purifiers are growing in popularity. Smart air purifiers are devices that are connected to other devices via the internet, and other technologies such as Bluetooth, near field communication (NFC), and Wi-Fi.
The rise of the Internet of Things (IoT) technology also supports the development of smart air purifiers. Smart air purifiers allow the air quality to be monitored and managed from a smartphone application, which provides a live reading of quality data. For instance, in January 2019, Pathpartner, an Indian-based technology company, developed IoT enabled smart air purifier that gives information about air quality and provides a report on the humidity content of the air. Through this technology, the temperature of the room and freshening up the room can be controlled remotely.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Commercial Fan And Air Purification Equipment Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Commercial Fan And Air Purification Equipment Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Commercial Fan And Air Purification Equipment Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Commercial Fan And Air Purification Equipment Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Commercial Fan And Air Purification Equipment Market Trends And Strategies
8. Impact Of COVID-19 On Commercial Fan And Air Purification Equipment
9. Commercial Fan And Air Purification Equipment Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Commercial Fan And Air Purification Equipment Market Regional Analysis
10.1. Global Commercial Fan And Air Purification Equipment Market, 2021, By Region, Value ($ Billion)
10.2. Global Commercial Fan And Air Purification Equipment Market, 2016-2021, 2021-2026F, 2031F, Historic And Forecast, By Region
10.3. Global Commercial Fan And Air Purification Equipment Market, Growth And Market Share Comparison, By Region
For more information about this report visit https://www.researchandmarkets.com/r/48sq6w
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