Industry Insights
The U.S. air purification equipment market was valued at USD 7.52 billion in 2017 and is expected to grow at a lucrative rate on account of increasing awareness regarding health hazards such as asthma, chronic obstructive pulmonary disease (COPD), and other lung diseases. The demand for this equipment is anticipated to increase over the study period on account of increasing number of patient diagnosed with allergic reactions. Increase in air pollution since last decades, has led in deterioration in the air quality in the United States. Even though implementation of stringent regulations imposed by the Environmental Protection Agency (EPA), majority of the cities are struggling to maintain quality of air around them. According to the American Lung Association, more than 18 Billion people in the U.S. stay in regions where the outdoor air failed all essential tests for quality.
U.S. air purification equipment market revenue split, by type, 2017 (% share)
The organization also stated that approximately half of the population in the U.S. stays in areas where air pollution levels are extremely high and cause health hazards to all age groups. Around 47% of the individuals live in areas with dangerous air pollution levels susceptible to lung disorders and major breathing problems. Such susceptible environmental conditions make the U.S. highly potential marketplace for air purifiers across residential, commercial, and industrial usage. Lucrative growth in construction of non-residential buildings coupled with rising industrial production is expected to show a positive impact in the demand for such products over the forecast period.
Increasing number of health problems majorly respiratory disorders are also projected to fuel further demand in future period. Rising number of cases for lung related disorders is also expected to drive the residential demand for air purification equipment over the forecast period. Additionally, various environment protection compaigns are being performed to create awareness regarding hazards of air pollution. For instance, in 2015, Environmental Protection Agency (EPA) started a clean power plan which is a practical kit for the states to minimise the carbon pollution from power plants by 32% by the year 2030. Such initiatives are considered to establish the heallthy platform for the growth of this industry. Stringent emmision norms stated for the manufacturing as well as industrial sectors to imprve air quality are expected to surge the market growth.
Segmentation by Type
• Particulate Air Filter
• Dust Collector
• Mist Collector
• Bag House
• Others
Particulate air filter segment is anticipated to grow at a faster pace compared to counter parts on account of major applications in industrial and manufacturing sector. Growing demand for optimum and efficient filtration in sectors such as pharmaceutical, food & beverage, automotive, as well as paint industries is expected to augment the market in future. Additionally, increasing demand for HEPA, ULPA, and semi-HEPA filters owing to its capability of removing 99.99% of indoor airborne particles is expected to fuel the market. Technological advancements in these product segments is further driving the revenue growth to some extent.
Segmentation by End Use
• Industrial
• Commercial
• Residential
The commercial sector is expected to grow at a faster pace on account of increasing number of facilities such as hospitals, government buildings, schools, colleges, and corporate offices in the U.S. For example, more than 850 hotels were inaugurated in the year 2016 alone in the U.S. Increasing number of such facilities would in turn boost the demand for air filter equipment among the end-users, driving the industry growth to great extent.
Residential sector is expected to grow at a lucrative rate on account of deteriorating air quality in cities such as Nevada, Virginia, and New York. Declining air quality is expected to propel the demand for air purification equipment during the future period. Moreover, increasing concerns regarding family health owing to rising indoor pollution is expected to propel the demand in coming few years.
The industrial sector is expected to grow at a noticeable CAGR over the forecast period on account of stringent emission norms postulated by regulatory bodies. For instance, United States Environmental Protection Agency (EPA) have set the strict standard to improve the air quality throughout the country. Lucrative demand for air filters in pharmaceutical industries as well as other manufacturing industries is also projected to augment the industry growth over the future period.
Competitive landscape
The market is characterized by the presence of various well-established players in the industry. Major players in the market include IQAir, Blueair, Austin Air Systems, and many others. Manufacturers are concentrating on product development and implementation of Internet of Things within the air filters. Rising popularity of smart air filters which provide real time air monitoring on smart phones are gaining popularity amongst residential sector. Such product innovations are anticipated to provide competitive advantages to some of the players in the market and help them in gaining additional market share.
