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Research Reports

 

 

The global air treatment products market is set to be valued at around US$ 50 Bn in 2021, with stable long-term projections as far as demand growth is concerned, according to latest revised insights by Persistence Market Research. The market is projected to expand at nearly 10% CAGR over the 2021-2031 assessment period. Building standards becoming increasingly stringent across regions is also giving impetus to market growth. Across regions, demand for air purifiers is especially high, followed by humidifiers.

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However, demand for air treatment products waned in 2020 due to the recessionary effects of COVID-19 on construction activities, resulting in retardation in sales. However, with industrial activities picking up, demand is rising once again with substantial increase in demand from residential and commercial establishments in both, developed and developing countries.

Key Takeaways from Market Study

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Consumers are becoming more informed, tech-savvy, and environmentally-aware, and there is growing demand to be able to monitor air treatment systems in real-time and control them remotely. This change in behavior will result in increased demand for high-end, smart air treatment products with integration of IoT and increased connectivity, says a Persistence Market Research analyst.

Competitive Landscape

The market is understood to be moderately fragmented, with key players accounting for nearly 46% to 48% of overall market value share. Players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are Honeywell International Inc, Samsung Electronics Co., Ltd, LG Electronics Inc., Panasonic Corporation, Sharp Corporation, Daikin Corporation, and Atlas Copco AB.

Read More Trending “PMR Exclusive Article”-  https://www.prnewswire.com/news-releases/air-treatment-product-market-is-projected-to-expand-at-nearly-10-cagr-over-the-2021-2031-assessment-period-301261939.html

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