Humidifiers Market to Grow at a CAGR of 5.1% through 2028, HVAC Integrated Devices to Witness Growth, says Future Market Insights
Humidifiers adoption continues to surge as healthcare, residential and automotive industries refocus on healthy environment and air quality.
DUBAI, UAE / ACCESSWIRE / October 7, 2020 / The humidifiers market is showing considerable amount of growth in healthcare sector due to inclination towards healthier environment and awareness regarding indoor air quality. According to new research market for humidifiers, this market is set to grow at a CAGR of 5.1% over the forecast period (2018-2028).Adoption of ultrasonic and HVAC integrated humidifiers is projected to grow with an impressive growth rate of over the forecast period with installation of system in automotive or healthcare industries.
“A significant growth with increasing demand for budget-friendly yet efficient management solutions in the healthcare and residential sector will be noticed to automatize the orders based on the percentage of usage, quality and portability,” says the FMI Analyst.
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Humidifiers Market - Important Highlights
- Humidifiers market will hit a CAGR of 5.1% through 2018-2028.
- North America is the most lucrative region of this market, Canada will witness a surge in production of HVAC integrated humidifiers.
- On the basis of types, ultrasonic humidifiers will experience greater production with profitable opportunities through the forecast period.
- Online and e-commerce sales channel will witness heavy growth in the upcoming years, thereby, affecting the CAGR positively.
Humidifiers Market - Driving Factors
- Rising demands for humidifiers in residential as well as industrial areas to maintain consistency and humidity, dominates the market scenario.
- Continuous development in cloud technology, growing use of smart and ultrasonic humidifier in healthcare, pharmaceuticals and automotive sectors, is affecting the market positively.
- Rapid industrialization, improved work environment and better regulations launched by the government propels market growth.
- Increasing number of smart homes and adoption of smart appliances in North America requires a great deal of quality humidifiers which helps demand rise in this region.
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Humidifiers Market - Key Restraints
- Budget management is a challenge because HVAC integrated humidifiers is usually not affordable.
- Adopting online and e-commerce sales channel is posing major challenge to the offline markets.
Anticipated Market Impact by Coronavirus Outbreak
It’s very clear that the pandemic has taken a toll on the market system. Social distancing measures and strict lockdowns have adversely affected the productions and disrupted operations of the end-use companies across the universe. Though the healthcare industry is experiencing an increasing demand for humidifiers yet automation and product/service work is at halt due to lockdown. This has definitely accounted for a decline in revenue of the humidifiers market. Though the market will experience comfort as the lockdown releases yet the losses can continue to hamper production.
Key players in the market include Guardian Technologies, Koninklijke Philips, Honeywell International Inc., Dyson Ltd., De’Longhi S.p.A., Condair Group, Boneco AG, CAREL INDUSTRIES S.p.A., LG Electronics, Neptronic, Smart Fog Manufacturing, DriSteem, HygroMatik GmbH. The companies are focussing on investment plans to improve the development of new products with better features. Apart from unique innovations, leaders are also working on acquisition of regional companies to strengthen global presence.
Taking into consideration, key companies are planning to expand the portfolio of portable devices. New players might find it difficult to make decisions due to limited resources but they can witness steady growth.
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More on the report
FMI market research report presents in-depth insights on the market. The foremost objective focusses on demand generators, and technological advancements in the market including humidity regulation and services. The report brings to our notice about the leading manufacturers who are involved in humidifiers market, along with their detailed profiles.
Essential and up-to-date data information related to key market players are principally engaged in the production of each type of humidifiers, have been brought with the help of a detailed dashboard view.
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Mr. Abhishek Budholiya
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SOURCE: Future Market Insights
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