Dehumidifier Market Drivers and Opportunities [2021-2031]
The dehumidifier market size is projected to reach US$ 5.6 billion by 2031 from US$ 3.2 billion in 2023. The market is expected to register a CAGR of 7.2% during 2023–2031. Increasing disposable income and rapid urbanization are likely to remain key trends in the market.
Dehumidifier Market Analysis
The enhancement of the world economy, accompanied by urban development, has resulted in a rise in construction across different sectors. This construction boom, which includes malls, hospitals, office buildings, hotels, and industrial plants, has increased the need for dehumidifiers. Progress in technology and the development of energy usage regulations at both government and organizational levels have also contributed to the expansion of the market. There is a increasing inclination towards advanced dehumidifiers that can independently measure and regulate air moisture, as well as the integration of cloud-based technology that enables connectivity with smart devices, both of which have greatly hastened market growth.
Dehumidifier Market Overview
Significantly, regulations imposed by the government, like the energy efficiency testing criteria set by the U.S. Department of Energy, are impacting the market's behavior. Moreover, the market is being positively affected by an improved standard of living and a growing consumer consciousness regarding health-related factors. The rising need for portable dehumidifiers in homes and businesses, coupled with the integration of easy-to-use digital controls in modern dehumidifier units, is driving market expansion, especially in the residential sector. Furthermore, energy efficiency-focused government regulations and standards, such as AHAM 7008-2018/CSA SPE-7008-18/UL 7008-18, are further bolstering the use of dehumidifiers in residential and industrial sectors. These combined factors are instrumental in driving the overall expansion of the market.
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Dehumidifier Market: Strategic Insights
Market Size Value in US$ 2,797.5 million in 2021 Market Size Value by US$ 4,559.9 million by 2028 Growth rate CAGR of 7.2% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Dehumidifier Market: Strategic Insights
| Market Size Value in | US$ 2,797.5 million in 2021 |
| Market Size Value by | US$ 4,559.9 million by 2028 |
| Growth rate | CAGR of 7.2% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Dehumidifier Market Drivers and Opportunities
Increasing Disposable Income and Rapid Urbanization to Favor Market
The global dehumidifier market is experiencing growth due to several key factors. The rising adoption of dehumidifiers in both commercial and residential spaces, along with rapid urbanization and increasing disposable income, are driving this growth. In various developing countries across the Asia Pacific, the demand for dehumidifiers is increasing due to the growing investments in construction activities for residential and commercial spaces. This demand is particularly evident in storage spaces where lithium batteries and other electronic equipment are stored. Additionally, the fluctuating weather conditions caused by factors such as global warming are contributing to the growth of the dehumidifier market. In Europe, the demand for dehumidifiers is expected to rise in the coming years, especially in establishments such as restaurants, hotels, resorts, cafeterias, food and beverage processing centers, and cold storage spaces.
Growing Demand for Dehumidifiers in Various Places
Health clubs need commercial dehumidifiers not only in swimming pools and spa areas but also in moisture-heavy workout spaces. These dehumidifiers are essential for controlling moisture, preventing issues such as Mold and mildew, stopping workout equipment from rusting, and maintaining the overall integrity of the building. In compact, humid spaces like those housing therapy pools, hot tubs, or spas, a commercial dehumidifier is utilized to extract surplus moisture. Furthermore, due to the relatively limited room volume compared to the moisture produced, specialized low-volume CFM commercial dehumidifiers are necessary to restrict the number of room air changes passing through the dehumidifier to a suitable level. All of these benefits provided by dehumidifiers are expected to boost the adoption of this product.
Dehumidifier Market Report Segmentation Analysis
Key segments that contributed to the derivation of the dehumidifier market analysis are type and application.
- Based on type, the market is bifurcated into heat pumps, ventilating dehumidifiers, and chemical absorbent dehumidifiers. The heat pump segment held a significant market share in 2023.
- In terms of application, the market is divided into industrial, commercial, and residential. The industrial segment held a substantial share of the market in 2023.
Dehumidifier Market Share Analysis by Geography
The geographic scope of the dehumidifier market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America is expected to hold a significant position in the market. Companies such as Dehumidifier Corporation of America (DCA) are offering a wide range of humidifiers in this region. Commercial swimming pool enclosures and spa facilities in hotels, health clubs, YMCAs, YWCAs, high schools, universities, retirement communities, fitness centers, and other similar establishments can experience improved conditions with the use of DCA dehumidifiers, particularly in combating high moisture accumulation.
Dehumidifier Market Report Scope
Dehumidifier Market News and Recent Developments
The dehumidifier market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the dehumidifier market are listed below:
- Quest Climate, a pioneer in the humidity control industry, is thrilled to announce a strategic partnership with BFG Supply, a renowned gardening, nursery, and horticultural product distributor, starting in 2024. This collaboration marks an exciting milestone for both companies, aiming to redefine standards in environmental control solutions for the gardening and cultivation industries. Quest has consistently led the market with innovative, high-performance dehumidification technology, catering to the diverse needs of cultivation environments and industrial applications. With a commitment to reliability, energy efficiency, and sustainability, Quest has earned a reputation for excellence and has become the go-to choice for growers worldwide.
(Source: Quest, Company Website, December 2023)
- AprilAire, the nationwide leader in professional-grade Healthy Air solutions for the home, offers inspired innovation and proven energy savings with its line of e-series dehumidifiers. Models E080, E100, and E130 deliver 23% annual energy savings to consumers above conventional products and feature the ENERGY STAR® Most Efficient 2022 rating. These AprilAire dehumidifiers are the first whole-house dehumidifiers to receive this certification from ENERGY STAR and have received the rating for two consecutive years.
(Source: AprilAire, Company Website, April 2022)
Dehumidifier Market Report Coverage and Deliverables
The “Dehumidifier Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Dehumidifier market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Dehumidifier market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Dehumidifier market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the dehumidifier market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, UAE, UK, US
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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