Air humidifier market grows at CAGR of 4.5% to exceed USD 2.8 billion by 2024
According to a new research report from Global Market Insights, Inc., the market size of air humidifiers is estimated to exceed USD 2.8 billion by 2024.
The proliferation of disposable income along with the rising standard of living are the key factors for the growth of the market. Improving the comfort level requirement in the residential segment will improve product penetration. The industry is anticipated to experience high demand during the winter season, especially in the colder geographic regions, due to the increase in chapped lips and skin, sinus passages, irritated eyes, dry throat, and sinus congestion.
Health awareness and changing weather conditions will drive the size of the commercial and residential market. In addition, these devices are expected to reduce the risk of respiratory diseases and are directly proportional to the level of comfort perceived by customers. The superior office atmosphere and disinfection offered by these systems will have a positive impact on the size of the air humidifier market.
The commercial and industrial market is estimated to exceed $1.5 billion by 2024. The rapid adoption of these devices in many industries, including manufacturing, hospitals, operating rooms, and process data centers, is expected to justify the prospects. growth through 2024. The residential sector accounted for more than 87% of the overall air humidifier market volume share in 2017 and is projected to continue its dominance from 2018 to 2024.
The portable humidifier market share accounted for more than 90% of the volume in 2017 and is forecast to continue to dominate during the forecast period. The convenience, cost competitiveness and easy installation offered by these devices are the key factors anticipated to drive demand over the next seven years. The warm fog segment accounted for about 20% of the revenue share in 2017.
The North American market will record growth of around 3% during the forecast period due to increased consumer awareness through government and regulatory bodies such as the USEPA and ASHRAE. Strong purchasing power coupled with cold weather conditions in the region will fuel the growth of the air humidifier market in Europe. Asia Pacific will record rapid growth due to increased government spending and growing consumer awareness.
Explore key industry insights report, “Air Humidifier Market Size by Product (Portable {Ultrasonic, Cool Mist, Warm Mist}, Whole House {Bypass, Fan-Powered, Steam}), by Application (Residential, Commercial/Industrial), Industry Analysis Report, Regional Perspective (US, Canada, Germany, UK, France, Italy, Russia, Netherlands, Spain, Turkey, Sweden, China, Japan, India, South Korea , Indonesia, Australia, Vietnam, Thailand, Malaysia, Brazil, Mexico, Argentina, Saudi Arabia, United Arab Emirates, South Africa), Growth Potential, Price Trends, Competitive Market Share and Forecast, 2018 – 2024″
https://www.gminsights.com/industry-analysis/air-humidifier-market