Increase in health awareness, rapid growth in commercial and residential sector, and government standards and regulations to maintain humidity drive the growth of the humidifiers market.
WILMINGTON, Del., Oct. 26, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Humidifiers Market by Type (Vaporizer Humidifiers, Ultrasonic Humidifiers, Wick/Evaporative Humidifiers), by Installation Type (Fixed Humidifiers, Portable Humidifiers), by End user (Residential, Commercial/Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032 “. According to the report, the humidifiers market was valued at $2,989.5 million in 2022, and is projected to reach $5,626.6 million by 2032, registering a CAGR of 6.6% from 2023 to 2032.
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Prime determinants of growth
The rise in problems such as asthma, sinusitis, and other allergies caused by dry air has raised awareness among consumers of the importance of maintaining particular humidity in the air by using humidifier equipment. High demand for humidifiers has been growing in the residential sector due to lifestyle changes that are occurring rapidly, an increase in environmental concern, and an increase in living standards. In addition, the residential sector’s smart connected humidifier via smartphone is anticipated to further accelerate market expansion. Growing industrialization and rising concern about a healthy work environment are predicted to drive the usage of humidifiers in industries such as healthcare, pharmaceuticals, and automotive.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$ 2,989.5 million |
|
Market Size in 2032 |
$ 5,626.6 million |
|
CAGR |
6.6 % |
|
No. of Pages in Report |
220 |
|
Segments covered |
Type, installation type, End User, and Region. |
|
Drivers |
Increase in health awareness. Rapid growth in commercial and residential sector. Government standards and regulations to maintain humidity. |
|
Opportunities |
Growth in concerns over the static electricity in industries. |
|
Restraints |
Regular maintenance of humidifier. |
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic had a negative impact on the humidifiers market, owing to the temporary closure of manufacturing firms during the lockdown.
- Not only the production but also the sale of humidifiers was hampered due to unexpected lockdown in the initial period of the pandemic.
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The vaporizer humidifiers segment to maintain its leadership status throughout the forecast period
Based on type, the vaporizer humidifiers segment held the highest market share in 2022, accounting for nearly two-fifth of the humidifiers market revenue and is estimated to maintain its leadership status throughout the forecast period and ultrasonic humidifiers segment is projected to manifest the highest CAGR of 7.1% from 2023 to 2032, owing to features such as silent operation and killing bacteria in the air and other features are increasing demand for humidifier, which is expected to drive the market.
The fixed humidifiers segment to maintain its leadership status throughout the forecast period.
Based on installation type, the fixed humidifiers segment held the highest market share in 2022, accounting for nearly two-fifths of the humidifiers market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the increasing demand for fixed humidifiers commercial/industrial sector. However, the portable humidifiers segment is projected to manifest the highest CAGR of 6.9% from 2023 to 2032. The rising demand for portable humidifiers in the residential sector is due to the ease of placing portable humidifiers in any place in the property.
The commercial/industrial segment to maintain its lead position during the forecast period.
Based on end user, the commercial/industrial segment accounted for the largest share in 2022, contributing to nearly three-fifths of the humidifiers market revenue, and residential segment is expected to portray the largest CAGR of 6.8% from 2023 to 2032. The growing population and increasing demand of commercial, industrial and residential infrastructure are increasing the demand for humidifiers. Growth in the industrial sector will eventually have a positive impact on the humidifiers market.
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Leading Market Players: –
- Armstrong International, Inc.
- Condair Group
- Honeywell International Inc.
- Koninklijke Philips N.V.
- Levoit
- Mitsubishi Heavy Industries, LTD.
- Munters AB
- Skuttle Indoor Air Quality Products
- Spirax Sarco Limited.
- UCAN Co., Ltd.
The report provides a detailed analysis of these key players in the humidifiers market. These players have adopted different strategies such as new product launches, investments, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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