Rapid Urbanization and Growing Disposable Income to Create Growth Opportunities for Dehumidifier Market during 2021–2028
According to our latest market study on “Dehumidifier Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market was valued at US$ 2,797.5 million in 2021 and is projected to reach US$ 4,555.9 million by 2028; it is expected to grow at a CAGR of 7.2% from 2021 to 2028.
Rising urbanization, increasing disposable income, growing expenditure on comfort and luxury, and low air quality are a few factors driving the growth of the global dehumidifiers market. The improving economic conditions across the world coupled with urbanization have increased construction in various industries. There has been an increase in the construction of malls, hospitals, commercial buildings, hotels, and manufacturing facilities, which propels the demand for dehumidifiers. Moreover, technological advancements, coupled with changes in government and organizational regulations for energy consumption, are contributing to the market growth. In addition, a few factors such as increasing energy consumption, growing industrial sector, and surging population are generating air pollution in urban areas. With rising urbanization and growing need for comfortable and healthy lifestyle, Asian and European are getting inclined to use dehumidifiers for eradicating musty odor and humidity from the room/living space. Increasing harmful dust particles in European air are demanding advanced air purifiers, which can clean pollutants and particles such as dust, mold, and viruses. As European population is allergic to dust and other particles, the demand for dehumidifiers is rising in the region.
The dehumidifier market is expected to witness high demand from the industrial sector in the coming years. Dehumidifiers are widely used in manufacturing and pharmaceuticals plants, food processing units, automotive factories, and others. The mentioned industries need sufficient heat during the production process. The government agencies in Europe and North America are directed to use energy-efficient systems. Therefore, the regions have become mature and well-recognized for using dehumidifiers. A few companies such as Munters, Bry-Air, Condair, Origin Corp, Hygro Tech Engineers, Berg Chilling Systems Inc., and Hitachi are known for providing dehumidifiers for the industrial sector.
Dehumidifier are gaining popularity in residential space as it improves air quality and helps eliminate dust mites. Its use is increasing in the residential space due to its various advantages such as portable and convenient, and easy and quick maintenance. Moreover, the adoption of dehumidifiers is increasing in hotels, restaurants, dining rooms, and kitchens to handle the concerns regarding the high moisture levels generated by cooking, which supports the growth of the dehumidifiers market. The growing demand for dehumidifiers in the locations having temperatures below 30°C, such as garages, unoccupied properties, and caravans, boosts the adoption of the absorption dehumidifiers.
The dehumidifier market is segmented on the basis of type, application, and geography. Based on type, the market is segmented into heat pumps, ventilating dehumidifiers, and chemical absorbent dehumidifiers. In 2021, the chemical absorbent dehumidifiers segment led the market and accounted for the largest market share. Based on application, the market is segmented into industrial, commercial, and residential. In 2021, the commercial segment led the market and accounted for the largest market share. Geographically, the dehumidifier market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, Europe accounted for the significant share in the global market.
Impact of COVID-19 Pandemic on Dehumidifier Market
According to the latest report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among the worst-affected countries due to the COVID-19 pandemic. In the beginning of 2020, many industries came to a standstill due to the imposition of nationwide lockdown in most of the countries. Dehumidifier is widely used in the food industry, pharmaceutical industry, electronics & semiconductors industry, defence industry, leather industry, turbine industry, and cold stores. Demand for dehumidifiers at various small & medium enterprises is also declined significantly. However, after the situation comes to normalcy, the dehumidifier market is expected to grow considerably across the world.
A few key players operating in the global dehumidifier market are Haier Group Corporation; Electrolux AB; LG Electronics; Whirlpool Corporation; De’Longhi Appliances S.r.l.; General Filters, Inc.; Sunpentown International Inc.; Therma-Stor; and Munters and Resideo Technologies, Inc. Several other market players have been analyzed to understand the market.
Dehumidifier Market — by Geography, 2021 and 2028 (%)
Dehumidifier Market Demand, Insights Size Forecast up to 2028
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Dehumidifier Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Heat Pumps, Ventilating Dehumidifiers, and Chemical Absorbent Dehumidifiers) and Application (Industrial, Commercial, and Residential)
Dehumidifier Market Demand, Insights Size Forecast up to 2028
Download Free SampleDehumidifier Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Heat Pumps, Ventilating Dehumidifiers, and Chemical Absorbent Dehumidifiers) and Application (Industrial, Commercial, and Residential)