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The rising health awareness among consumers regarding the ill-effects of air pollution and the high prevalence of novel air borne diseases during the coronavirus pandemic is leading the industry growth. The presence of harmful carcinogenic radon gas and asbestos particles, which can cause various lung diseases and cancer, is eliminated by an air purifier, consequently propelling the industry growth. Additionally, the surging demand for air purifiers after the reopening of schools, colleges, and offices, to combat the virus is further invigorating the market growth. Evolving lifestyle preference and rising consumer awareness regarding the benefits of air purifiers, especially among the young generation, is invigorating the market growth. The increasing commercial applications of air purifier in hotels, offices, hospitals, and educational institutions to remove allergens, airborne pathogens, smoke, and odours are also augmenting the market growth for air purifier.
The development of advanced products by major companies to provide better air quality is augmenting the market growth. LG Corporation (KRX: 066570), one of the leading players in the industry, introduced PuriCare™ Wearable Air Purifier in IFA in August 2020. The purifier employs the latest technology of H13 HEPA filters to supply fresh and clean air both indoor and outdoor. Its patented respiratory sensor detects the cycle and volume of the wearer’s breath and adjusts the dual three-speed fans accordingly. Furthermore, the purifier fits snugly on the user’s face, which can be worn comfortably for hours. It can also send a notification to the mobile app when the replacement of filters is required. Moreover, all the components of the product are made of recyclable materials. Such innovations are expected to aid the market growth.
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The major players in the global market for air purifier are Honeywell International, Inc., Camfil AB, Samsung Electronics Co., Ltd, Sharp Electronics Corporation, LG Corporation, and Blue Star Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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