Humidifiers Market is Expected to Reach US$ 2.4 Billion by 2024 – IMARC Groupby Zayn Mathew Market Research Reports
The global humidifiers market has witnessed steady growth over the past few years. This can be attributed to the rising awareness about the harmful effects of polluted air, the need for eliminating static electricity generation, and an availability of innovative variants of humidifiers.
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According to the latest report by IMARC Group, titled “Humidifiers Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2019-2024”, the global humidifiers market reached a value of US$ 1.9 Billion in 2018. Humidifiers are appliances that are used for increasing or maintaining humidity in a room or building. By adding moisture to the air, they treat dryness of the skin, lips, and throat and prevent skin irritation, inflammation, nose bleeding, and sinus congestion. Their usage also aids in making the environment less conducive to cold and flu germs, thereby reducing the symptoms of chronic obstructive pulmonary disease (COPD). They also help in nourishing indoor plants as well as maintaining a safe electric environment by decreasing static electricity. As a result, these appliances are widely used in homes, corporates, institutional buildings, hospitals, data centers, concert halls, museums, art galleries and shopping complexes.
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Due to the degrading air quality on a global level along with the growing consciousness among masses about the adverse effects of pollutants present in the air, users are shifting towards humidifiers to improve the air quality of their homes and offices. Furthermore, technological developments have increased the requirement of moisture control to eliminate the generation of static electricity on compact discs, computer storage, and other electronic devices. On account of this, the sales of industrial ultrasonic humidifiers have increased significantly. Moreover, the introduction of smart humidifiers has also influenced the growth of the market. These appliances assist users by enabling them to regulate the relative humidity levels of their homes and offices through their smartphones and mobile devices. Owing to the aforementioned factors, the market value is anticipated to reach US$ 2.4 Billion by 2024, expanding at a CAGR of approximately 4% during 2019-2024.
Insights on Market Segmentation:
Breakup by Product:
1. Warm-Mist Humidifiers
2. Ultrasonic Humidifiers
3. Cool-Mist Humidifiers
Based on product types, warm-mist humidifiers are the most popular product type. Other major classifications include ultrasonic, cool-mist, and other humidifiers.
Breakup by Distribution Channel:
1. Offline Retail Stores
2. Online Retail Stores
On the basis of distribution channels, the market has been bifurcated into offline and online retail stores.
Breakup by Application:
Based on applications, the market has been divided into industrial, residential, and commercial segments. The residential sector currently holds the majority of the total market share.
Breakup by Region:
1. North America
3. Asia Pacific
4. Middle East and Africa
5. Latin America
On the geographical front, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Currently, North America accounts for the dominant market share.
The competitive landscape of the market has also been analyzed with some of the key players being Honeywell International Inc., Newell Brands, Procter & Gamble Co., BONECO, Condair Group AG, Carel Industries S.p.A., Dyson Ltd., Humidifirst, Inc., Crane USA, De'Longhi Appliances S.r.l, Heaven Fresh USA Inc., and UCAN CO., LTD.
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Created on Apr 13th 2019 01:46. Viewed 535 times.
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