South Korea Air Purifier Market Size to Grow at a CAGR of 10% in the Forecast Period of 2023-2028

The ‘South Korea Air Purifier Market Trends, Share, Price, Size, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the South Korea air purifier market, assessing the market on the basis of its segments like technology and application.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

South Korea Air Purifier Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

• Forecast CAGR (2023-2028): 10%

The increasing awareness pertaining to the advantages offered by an air purifier is driving their demand in South Korea. An air purifier refreshes stale air, removes indoor pollutants, eliminates air contaminants, improves sleep, and can help increase life expectancy. These advantages are enhancing the popularity of air purifiers, leading to a steady growth of South Korea air purifier market. The increasing prevalence of chronic conditions caused by impure air in the surrounding, such as asthma, respiratory disorders, lung cancer, and chronic obstructive pulmonary disease (COPD), among others, is expanding the opportunities for air purifier market in South Korea.

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In addition, the increasing pollution in the country caused by combustion of fossil fuels and emission of greenhouse gases by vehicles, is further increasing the sale of air purifiers to maintain the air quality inside homes. Over the forecast period, the increasing disposable income, rising standards of living, rapid urbanisation, and growing emphasis on home interior aesthetics are anticipated to propel the demand for air purifiers.

Rising application of air purifies across commercial areas, such as restaurants, hotels, and shopping complexes, etc., is generating a greater revenue for the South Korea air purifier market. In addition, in industrial facilities, such as power generation units, food and beverage processing facilities, and printing houses, among others, safety of staff is of utmost importance which is fuelling the sale of air purifiers to prevent air pollutant related health concerns in industrial staff and workers.

South Korea Air Purifier Industry Definition and Major Segments

An air purifier is defined as a device which filters polluted air in an enclosed space and coverts it into cleaner, pollutant-free, and more breathable air. This device contains two major components, namely, internal filter and a fan, which pull the air and remove unwanted particles, thereby, improving the quality of air.

Based on technology, the market is segmented into:

• HEPA (High-Efficiency Particulate Air)
• Activated Carbon
• Ionic Filters
• Others

By application, the market is divided into:

• Commercial
o Hospitals
o Healthcare Facilities
o Retail Shops and Offices
o Educational Institutions
o Laboratories
o Transport
o Others
• Residential
• Industrial

South Korea Air Purifier Market Trends

The key trends in the South Korea air purifier market include technological advancements in air purifying equipment and components aimed towards improving product standards. Innovations to curb noise levels, increase the quality of HEPA filters, increase the clean air delivery rate (CADR), and to reduce the cost of maintenance are expected to bolster the sale of air purifiers, leading to a higher market revenue.

Moreover, the emergence of smart air purifiers with additional features such as dual-effect sensors, large particle monitoring, and superior purification in less time, is likely to attract a greater number of customers. Well-established brands in the country, facing higher competition, are anticipated to invest in innovations to gain a competitive edge. This factor is anticipated to provide impetus to the South Korea air purifier market in the forecast period.

Growing research and development activities to improve the size of air purifiers, making them more compact so that they can fit in study rooms, libraries, and small rooms, are further increasing the incorporation of air purifiers. Further, the increasing demand for air purifiers in vehicles, to improve driving experience is adding to the market growth. Over the forecast period, increasing ownership of passenger vehicles is likely to garner the South Korea air purifier market growth.

Key Market Players

The major players in the South Korea air purifier market report are

• IQAir AG
• LG Electronics
• Blueair
• Koninklijke Philips N.V.
• Samsung Electronics Co., Ltd.
• Coway
• Dyson Limited
• WINIA Electronics Co., Ltd
• Cuckoo Holdings Co., Ltd.
• Xiaomi Corporation
• Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.