News

Jul 21, 2023

Air Filters Market Size To Reach US$ 30.33 Billion by 2033, Driven by Increasing Use of Smart Air Filtration Systems

Projected Growth in Air Filters Market is advancing from US$ 16.53 Billion in 2023 to US$ 30.33 Billion by 2033, at 6.36% CAGR, Fueled by Health Awareness and Regulatory Measures. The core impetus

Projected Growth in Air Filters Market is advancing from US$ 16.53 Billion in 2023 to US$ 30.33 Billion by 2033, at 6.36% CAGR, Fueled by Health Awareness and Regulatory Measures.

The core impetus behind the market’s expansion is the growing recognition of health risks linked to air pollution, contributing to more than 7 million premature fatalities globally annually.

Further propelling the market are regulatory endeavors geared towards enhancing air quality. Many nations are enacting stringent air quality regulations, thereby elevating the requisition for air filtration systems.

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The Role of Air Purifiers in Commercial Settings and Overcoming Challenges:

Air purifiers are used in schools, malls, conference centers, workplaces, hospitals, hotels, theaters, and other commercial settings such as recreation centers and amusement parks.

Rising urban air pollution levels pose challenges for local governments. As more than 70% of the millennial population works indoors, an increase in cases of fine dust and infectious disease has been noticed.

This growth is due to increasing pollution levels and rising demand for air filters in residential and commercial areas, with further expansion expected as public awareness of the health risks associated with air pollution increases.

However, technological limitations to the air filters combined with low awareness among the population may act as a barrier to market expansion. Nevertheless, rigorous research and development activities with constant support from regulatory authorities are more likely to liquidate these challenges.

Competitive Landscape

Prominent key players are focusing on acquiring mid-sized companies to expand their global presence. For example, Daikin Industries, Ltd. subsidiaries AAF and Nippon Muki Co. Ltd. are focusing on developing product portfolios for applications in engineering fields, factories, and buildings, among others. Furthermore, market participants are focused on producing effective filters at low manufacturing costs.

Recent Developments

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