Global Air Treatment Market: Overview
Several countries across the world are facing erratic weather patterns and increasing temperatures. In response to this, consumers are turning to cooling devices, especially to find comfort during warmer months of the year. Therefore, weather is one of the key factors impacting the sales of air treatment products. Besides this, the performance of the market is also determined by the economic situation of a country. Overall, the global air treatment market is forecast to remain strong over the forecast period between 2018 and 2028. Increasing demand from Asia Pacific and elsewhere, will enable the market maintain a positive pace of growth during the forecast period.
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Global Air Treatment Market: Key Trends
A mix of various factors will support growth of the global air treatment market. For instance the rapidly proliferating trend of smart phones will impel consumers in the household sector to spend on advanced air treatment products. Also mounting health concerns, coupled with the inclination towards green living will favor the market’s expansion in the coming years. In the last couple years, the market has witnessed a positively rising sales of air conditioners among other connected appliances.
The trend is driven further by increasing sales in emerging nations. Connectivity has become to the development of air treatment products. Besides this, manufacturers are also offering interoperability features to market their products better. Such trends are likely to give considerable boost to the global air treatment market.
Other factors enabling growth in the global air treatment market are increasing air pollution and the rising per capita income of consumers. On the downside the high cost and expenses incurred on their maintenance are limiting sales of air treatment products especially in low-income countries.
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Global Air Treatment Market: Key Potential
In order to gain competitive edge in the market, manufacturers are working towards launching high-performing and cost-effective air conditioning products. This trend is welcome by consumers braving through sweltering months of relentless heat. For instance, the advent of ductless air-conditioning, increased automation, and cost-effective pricing has helped in the market’s growth. As per recent studies, an average person spend a significant share of their utility bill in keeping their homes comfortable. This trend has caught the attention of Elon Musk, the founder of Tesla and SpaceX. Recently he hinted towards the possibility of launching a Tesla-connected smart air conditioning system. Such innovations by leading players are likely to give significant impetus to the global air treatment market.
Global Air Treatment Market: Regional Outlook
Regionally, the air treatment market is likely to witness high demand from Asia Pacific. The rising demand for air treatment and conditioning systems India, Japan, South Korea, and China is likely to enable the market gain momentum in the coming years. Also, the air treatment market in Asia Pacific is expected to gain from government initiatives and industrial growth. For instance, the expansion of electronics, semiconductors, and automotive industries will fuel growth opportunities for the market in Asia Pacific.
Also, development in terms of rising construction activities, infrastructural development, and economic growth will create lucrative prospects for the expansion of the air treatment market in the region.
Global Air Treatment Market: Competitive Landscape
Some of the leading companies operating in the global air treatment market are Honeywell, Donaldson, Mann+Hummel, Freudenberg, Donaldson, Ahlstrom-Munksjö, Atlas Copco, 3M among others.
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