Commercial fan facilitates airflow to various processes of many industries. Air Purification Equipment refer to a device, works by removing gases, vapors, aerosols, or a combination of contaminants from the air through the use of filters, cartridges, or canisters.
The main types of commercial fan and air purification equipment are air purification equipment, attic and exhaust fans, and other types. Air purification equipment refers to the machinery that purifies the unpure air into a pure one. The various technologies include high-efficiency particulate absorption/absorber (HEPA, activated carbon, electrostatic precipitator, ultraviolet (UV) light air purifier, ionic air purifier, and other technologies. The various capacities are small, medium, and large.
The global commercial fan and air purification equipment market is segmented -
1) By Type: Air Purification Equipment, Attic And Exhaust fans, Other Commercial Fan And Air Purification Equipment
2) By Technology Type: High Efficiency Particulate Absorption/Absorber (HEPA, Activated Carbon, Electrostatic Precipitator, Ultra Violet (UV) Light air purifier, Ionic Air Purifier, Other Technology Types
3) By Capacity: Small, Medium, Large
The global commercial fan and air purification equipment market size grew from $73.18 billion in 2022 to $79.52 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global commercial fan and air purification equipment is expected to grow to $106.81 billion in 2027 at a CAGR of 7.7%.
Technological advances in commercial fan and air purification equipment drove the commercial fan and air purification equipment market in the historic period. Increased access to the internet and the use of smartphones supported the development and consumption of innovative technologically enabled appliances. According to the GSMA annual State of Mobile Internet Connectivity report 2021, 51% of the world’s population (over 4 billion people) were using the internet by mobile by the end of 2020, which is an increase of 225 million since the end of 2019. Further, increasing integration of the Internet of Things (IoT) with appliances allowed customers to connect with their appliances via the internet and remotely control essential tasks by collecting data. Thus, technological advances drove the growth of the commercial fan and air purification equipment market for air purifiers in the historic period.
Major companies in the commercial fan and air purification equipment market include Honeywell International Inc., Panasonic Corporation, Carrier Corporation, Hitachi, Ltd., Sharp Corporation, 3M Company, Regal Beloit Corporation, SPX FLOW Inc., Illinois Tool Works Inc., and Helen of Troy Ltd.
High adoption and maintenance costs are expected to limit the growth of the air purifier market. Air purifiers are considered premium products due to the high adoption cost in both developed and developing countries. According to consumer reports, air purifiers range from $200 to $900 and the maintenance is high due to the change of filters two or three times a year, and some air purifiers have multiple filters. For instance, considering the average carbon-activated filter air purifier that eliminates bad odors on the commercial fan and air purification equipment market, the filter needs to be replaced every three months to be effective, which costs $50, then there is an additional cost of the main filter which ranges from $20 to $200 each. The Honey wells Air Touch S8 is a HEPA technology-based air purifier that costs around $500 (36,000 INR) in India and is a multiple-filter air purifier. The filter should be replaced every 4 months, which costs $40 (3,000 INR) each time. , Therefore, high adoption and maintenance costs are expected to affect the commercial fan and air purification equipment market growth.
The growing popularity of smart air purifiers is a major trend in the commercial fan and air purification equipment market. With air pollution increasing across the world, a growing awareness of allergies, pollution, and climate change is increasing consumer concern about the quality of the air they breathe. As a result, air purifiers are growing in popularity. Smart air purifiers are devices that are connected to other devices via the internet, and other technologies such as Bluetooth, near field communication (NFC), and Wi-Fi. The rise of the Internet of Things (IoT) technology also supports the development of smart air purifiers. Smart air purifiers allow the air quality to be monitored and managed from a smartphone application, which provides a live reading of quality data. For instance, in November 2022 Samsung India Electronics Ltd. (SIEL), a subsidiary of Samsung Electronics Company Ltd (SECL) of South Korea Samsung India Electronics Ltd. (SIEL), a subsidiary of Samsung Electronics Company Ltd (SECL), a Korea-based technology company, launched two models of air purifiers, AX46 and AX32. These purifiers are Internet of Things (IoT)-enabled and remove nanoparticles, ultrafine dust, bacteria, and allergens.
The Asia-Pacific was the largest region in commercial fan and air purification equipment market in 2021. Western Europe was the second largest region in the global commercial fan and air purification equipment market share. The regions covered in the global commercial fan and air purification equipment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the commercial fan and air purification equipment market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
The commercial fan and air purification equipment market consists of sales of industrial dust and fume collection equipment, electrostatic precipitation equipment, warm air furnace filters, air washers, and other dust collection equipment, and blowers, such as commercial exhaust fans and commercial ventilating fans. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in the commercial fan and air purification equipment market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The commercial fan and air purification equipment market research report is one of a series of new reports from The Business Research Company that provides commercial fan and air purification equipment market statistics, including commercial fan and air purification equipment industry global market size, regional shares, competitors with a commercial fan and air purification equipment market share, detailed commercial fan, and air purification equipment market segments, market trends and opportunities, and any further data you may need to thrive in the commercial fan and air purification equipment industry. This commercial fan and air purification equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.