North America Air humidifier market will cross USD 1 billion by 2024
SELBYVILLE, Del., July 19, 2018 /PRNewswire-iReach/ -- North America led by U.S. Air humidifier market will register growth at around 3% during the forecast period owing to increased consumer awareness through government and regulatory bodies such as USEPA and ASHRAE. Strong purchasing power along with cold climatic conditions in the region will propel air humidifier market growth in Europe. Asia Pacific will register rapid growth owing to increase in public spending and rising awareness among the consumers.
World Air Humidifier Market is estimated to surpass USD 2.8 billion by 2024. Proliferating disposable income along with increasing living standards are the key factors for air humidifier market growth. Improving comfort level requirement in residential segment will improve the product penetration. The industry is projected to experience high demands during winter season particularly from colder geographical region owing to increased chapped lips & skin, sinus passages sore eyes, dry throat, and sinus congestion.
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Residential sector accounted for over 87% of the overall air humidifier market volume share in 2017 and is forecast to continue its dominance from 2018 to 2024.
Air humidifiers are installed in healthcare buildings to maintain optimum level of humidity offering prevention from dryness and respiratory illness among individuals. In addition, these are installed in industries such as cold storages, printers and paper manufacturers to prevent dryness, paper curl and shrinkage.
High maintenance and health concerns may hinder air humidifier market growth from 2018 to 2024. Humidifiers might lead to household mold growth due to mildew on ceilings, walls and upholstery. Molds lead to health issues due to breeding of unhealthy organisms including bacteria, germs and fungi. Costly spares such as mat, water tank, tray and filters may pose further challenge. However, introduction of centralized systems with low maintenance and operational cost along with ultrasonic humidifiers using distilled water will overcome these challenges.
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Portable air humidifier market share accounted over 90% volume in 2017 and is forecast to continue its dominance over the forecast period. Convenience, cost competitiveness and easy installation, offered by these devices are the key factors anticipated to fuel demand over the next seven years. Warm-mist segment accounted for around 20% of the revenue share in 2017.
Low maintenance and quiet operation are the key factors positively influencing the ultrasonic air humidifier market segment growth till 2024. Superior humidification and compatibility with the air duct are the key features offered by the whole-house systems. Reduced maintenance expenditure and efficient power consumption offered by the whole-house systems will drive the segment growth.
Key participants for air humidifier market include Dristeem, Boneco, Carrier, Arnstrong International, Carel Industries. Other industry players include Winix, Nortec Humidity, Stadler Foam, P&G, Vornado, Honeywell, Philips, Neptronic. Manufacturers are adopting merger & acquisitions along with healthy investment in R&D to enhance the product portfolio to improve their market share.
Partial Chapter of the Table of Content
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definition and forecast parameters
1.2. Data Sources
1.2.1. Secondary
1.2.2. Primary
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Chapter 2. Executive Summary
2.1. Air humidifier industry 360 degree synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Regional trends
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