Air Treatment Market Size, Growth, Share by 2031
The air treatment market size is projected to reach US$ 15,124.36 million by 2031 from US$ 8,665.25 million in 2023. The market is expected to register a CAGR of 7.2% during 2023–2031. The innovation of advanced air treatment products is likely to remain a key trend in the market.
Air Treatment Market Analysis
The major end-users of the air treatment market include power, food and beverages, and petrochemical sectors. Urban growth is projected to take place in slums and other informally built parts of the states and countries in the coming years. Furthermore, favorable growth conditions globally and growing infrastructural projects have propelled the growth rate of the air treatment market globally.
Air Treatment Market Overview
The key stakeholders in the global air treatment market ecosystem include hardware/component providers, air treatment manufacturers/providers, and end-users. Component/hardware providers provide various components/parts/raw materials to air treatment manufacturers for the manufacturing of the end product. Different types of raw materials are used to make air treatment products. Some of the key market manufacturers in the global air treatment market include ABIONIK Group GmbH, Beko Technologies, Donaldson Company, Inc., Condorchem Envitech, Parker Hannifin, Kaesar Kompressoren, Mikropor, Odatech Pty Ltd., SPX FLOW, Inc., and Xebec Adsorption Inc among many others.
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Air Treatment Market: Strategic Insights
Market Size Value in US$ 8,299.93 million in 2021 Market Size Value by US$ 11,041.19 million by 2028 Growth rate CAGR of 4.2% from 2020 to 2028 Forecast Period 2021-2028 Base Year 2021
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Air Treatment Market: Strategic Insights
| Market Size Value in | US$ 8,299.93 million in 2021 |
| Market Size Value by | US$ 11,041.19 million by 2028 |
| Growth rate | CAGR of 4.2% from 2020 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Air Treatment Market Drivers and Opportunities
Growing Industrialization to Favor Market
The air treatment industry is driven directly or indirectly by vigorous government measures to support the industrial sector, such as those undertaken by major regions such as North America and Europe, through various forums. Policies in Europe are beneficial for the development of the business, which is one of the reasons behind the growth of the electronic industry and SMEs in Europe. The formation of the EU region has led to ease of business, import, and export among the members of the union. These industries are very common in this region. Thus, the growing development of the industrial sector is steering the demand for the air treatment market globally.
Introduction of Wearable and Giant Air Treatment Products
Air filtration systems are installed to ensure safety in industrial workplaces. The rising trend of air treatment systems helps in capturing the smallest fume particles in industrial areas. Advanced metal fabrication leveraged advanced technology and automation processes to produce products that release heating processes, harmful gases, and fumes as a by-product of welding. This has fueled the installation of dust collector systems with high-quality filtration cartridges. The growing advent of wearable and giant air treatment products in the industrial sector is one of the major growth opportunity providers for the market in the coming years.
Air Treatment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the air treatment market analysis are type and application.
- Based on the type, the air treatment market is divided into dryers, industrial filters, specialty filters, and condensate management. The industrial filters segment held a larger market share in 2023.
- By application, the market is segmented into general industry, food and beverage, pharmaceutical, oil and gas, chemical and petrochemical, and mining. The pharmaceutical segment held a significant share of the market in 2023.
Air Treatment Market Share Analysis by Geography
The geographic scope of the Air Treatment market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America is leading the market. The population of the US has an elevated standard of living, and the spending capacity of people is also immense owing to the high per capita income of the country. This results in the use of more facilities and increases the consumption of resources in the region. This will further result in a rising need for fresh air in the country, thus influencing the growth of the air treatment market. North America is a technologically advanced region. Smart air purifiers have witnessed high adoption in this region. These technologies, when integrated with machines, provide efficiencies to the end-users. More deployments call for more competition in the region along with the growth of the entire industry leading to market development and innovations.
Air Treatment Market Report Scope
Air Treatment Market News and Recent Developments
The Air Treatment 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 Air Treatment market are listed below:
- Ingersoll Rand Inc., a global provider of mission-critical flow creation and industrial solutions, closed on the acquisition of Friulair S.r.l. (“Friulair”) in an all-cash upfront purchase price of approximately US$ 146 Million. (Source: Ingersoll Rand Inc, Press Release, February 2024)
- Honeywell International Inc. launched its Indoor Air Quality (IAQ) monitor, which alerts building owners and operators of potential issues to proactively improve indoor air quality, thereby potentially decreasing the risk of transmitting airborne contaminants. (Source: Honeywell International Inc., Press Release, February 2022)
Air Treatment Market Report Coverage and Deliverables
The “Air Treatment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Air treatment market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Air treatment market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Air treatment 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 air treatment 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, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America dominated the air treatment market in 2023.
The introduction of wearable and giant air treatment products is the future trend of the air treatment market.
Beko Technologies, Donaldson Company, Inc., Parker Hannifin, Honeywell International Inc, Hongrijia Depurate Facility Science＆Technology Co., Ltd, Ingersoll Rand Inc., Kaesar Kompressoren, Mikropor, OMEGA AIR d.o.o. Ljubljana ORION Electronics Ltd. is some of the leading players in the market.
US$ 15124.36 million estimated value of the air treatment market by 2031.
7.2% is the expected CAGR of the air treatment market.
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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