According to the report, the global air humidifier market garnered $2.63 billion in 2017 and is anticipated to reach $3.81 billion by 2025, registering a CAGR of 4.7% from 2018 to 2025. The report provides extensive analyses of the key winning strategies, industry trends, key market segments, market size & projections, and competitive landscape.
Rise in health awareness, rapid growth in commercial and residential sector, and government standards and regulations to maintain humidity are the major factors driving the growth of the market. However, regular maintenance of humidifier impedes the growth to certain extent. Moreover, growing concerns over the static electricity in industries and introduction of the latest technology are expected to create multiple opportunities for the market.
Over the last five to six years, the air humidifier market has witnessed substantial growth owing to increase in health awareness, and government standards and regulations to maintain humidity. This has further fueled the adoption of air humidifier among health-conscious consumers.
The United States Department of Labor, and European Union has formulated strict rules and regulations to maintain humidity at commercial and industrial places, which is expected to further boost the market growth. North America and Europe were early adopters of air humidifier, thereby collectively accounting for 59.2% share in 2017. In terms of growth, Asia-Pacific is expected to be a lucrative market, due to the significant increase in adoption of air humidifiers in China, India, and Japan. Growth in adoption of humidifiers in various end-user industries such as healthcare, paper, textile, and others, drives the market in the region. Air humidifiers are widely used in commercial spaces such as offices, and hotels as well as in households, to maintain a healthy environment. Residential usage of air humidifier accounted for the highest revenue share, constituting over 45.6% in 2017.
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The global air humidifier market is segmented based on type, application, and region. Based on product type, the market is classified as vaporizers, impeller humidifier, ultrasonic humidifier, and wick/evaporative systems. The vaporizers segment accounted for more than one-fourth of the total market revenue in 2017 and is expected to remain dominant throughout the forecast period. However, the ultrasonic humidifier segment is expected to register the highest CAGR of 5.7% from 2018 to 2025.
Based on application, the market is segmented into commercial, industrial, and residential. The residential segment held the largest share in 2017, contributing nearly half of the total market revenue. On the other hand, the industrial segment is projected to register the highest CAGR of 5.2% from 2018 to 2025.
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Region wise, the market is analyzed across North America, Europe, LAMEA, and Asia-Pacific. The market across North America contributed nearly one-third of the total market revenue in 2017 and is expected to maintain its dominance through 2025. At the same time, the region across Asia-Pacific is projected to witness the highest CAGR of 5.8% from 2018 to 2025.
The key market players analyzed in the report include Condair Group, Carel INDUSTRIES S.p.A., Armstrong International, Inc., Honeywell International Inc., Coway Co., Ltd., Mitsubishi Heavy Industries, Ltd. (MHI), Skuttle Indoor Air Quality Products, Koninklijke Philips N.V.,Munters Pvt. Ltd., and United Technologies Corp.
Key findings of the Air Humidifier Market:
Based on humidifier type, the vaporizers segment accounted for the highest air humidifier market share in 2017, growing at a CAGR of 3.8% from 2018 to 2025.
Based on application, the residential segment accounted for about 45.6% share of the air humidifier market share in 2017 and is expected to experience growth at the highest CAGR of 4.6%.
Based on region, North America accounted for about 31.7% of the air humidifier market and is expected to grow at the highest CAGR of 4.2%.
Based on humidifier type, the ultrasonic humidifier segment accounted for 27.9% air humidifier market in 2017, growing at a CAGR of 5.7% from 2018 to 2025.
Based on application, the industrial segment accounted for 28.8% air humidifier market in 2017, growing at a CAGR of 5.2% from 2018 to 2025.
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