The recession caused a drop in demand from major markets, but revenue will steadily grow as the industry recovers.
Los Angeles, CA (PRWEB) November 04, 2013
After steep declines during the recession, the Air Purification Equipment Manufacturing industry experienced several years of uneven sales growth. An expected 2.4% jump in 2013 revenue will bring total industry revenue to $2.7 billion. However, this total will remain well below the prerecession high, representing a 3.4% annualized decline over the five years to 2013. "The three main domestic markets (industrial manufacturers, other businesses and consumers) drastically reduced their demand for air purification equipment in 2009 as a result of falling revenue and income," according to IBISWorld Industry Analyst Dale Schmidt. Their demand has steadily, albeit slowly, recovered in the years since.
International trade has been a bright spot for air purifier manufacturers. "The depreciating dollar allowed exports to grow quickly following the recession, aiding overall revenue growth," says Schmidt. In addition, it limited competition from imports. The dollar began appreciating in value in 2012, though, and is expected to continue appreciating through 2018. While this will slow export growth and increase import growth, the existing trade deficit will continue to shrink over the next five years.
In the five years to 2018, the industry will continue to experience slow growth. Demand growth from the industrial sector will somewhat wane but continue over the next five years. Business and consumer demand growth, however, will accelerate slightly over the next five years as these markets shake off the lingering effects of the recession.
For more information, visit IBISWorld’s Air Purification Equipment Manufacturing in the US industry report page.
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IBISWorld industry Report Key Topics
The Air Purification Equipment Manufacturing industry manufactures stationary air-purification equipment, such as industrial dust and fume collection equipment, electrostatic precipitation equipment, warm-air furnace filters, air washers and other dust collection equipment.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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