Humidifiers are increasingly used across commercial, residential, and industrial sectors to improve indoor air quality. According to a new study by Future Market Insights (FMI), surging awareness among consumers about the importance of maintaining healthy indoor air quality will enable growth in humidifiers market. It is expected to rise at 5.6% CAGR between 2020 and 2030.
The market is recording surging demand for various types of humidifiers such as ultrasonic, cold mist, warm mist, and others. Innovations in humidifiers are further helping the market gain traction. Despite witnessing disruptions due to the COVID-19 outbreak, the humidifier market is anticipated to witness impressive growth during the forecast period.
FMI offers an exhaustive overview of the humidifier market in its new study. The report also covers information on growth drivers and restraints.
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Some of the key takeaways from the report are highlighted below-
- Demand for cool mist humidifiers will remain high, however, sales recorded in the ultrasonic humidifier category is expected to be comparatively higher
- Portable humidifiers are likely to get more popular due to their ease of installation
- The online/ ecommerce segment will emerge as the most preferred sales channels
- Residential sector is likely to exhibit significantly high demand for humidifiers
- North America is expected to lead the global humidifier market followed by Europe during the forecast period
“Market players are focusing on making humidifiers smarter. Some of them are incorporating cutting-edge technologies that will allow humidifiers to sense presence of allergens inside a room. Many other similar innovations are underway, which are likely to enable growth in the market,” says an FMI analyst.
COVID-19 Impact Analysis
The outbreak of novel coronavirus has resulted in restricted growth of the humidifier market. Various factors such as shutting down of manufacturing units during lock down, restricted labor supply, disruptions in supply chain, and other hindrances caused due to the pandemic have been hampering operations within the market.
With sales via retail channels visibly hampered due to restrictions imposed to contain the novel coronavirus, manufacturers are shifting focus towards strengthening their online presence. Consequently, despite aforementioned restraints, the market is likely to witness higher volume of consumer traffic across ecommerce platforms.
Who is Winning
As the humidifier market is expanding gradually, the key market players are focusing on launching innovative products.
For instance, Philips has launched their advanced humidifier equipped with nano cloud technology which uses natural evaporation process to humidify indoor air in the current year.
Condair has launched their new Condair EL electrode boiler steam humidifier in the recent year which is easy to install and provides reliable steam humidification. They have also released their CIBSE-approved CPD seminar on dehumidification and drying psychometrics which includes training on the principles of operation for both desiccant and condensing dehumidifiers, and others in October, 2020.
Some of the key market players giving tough competition are Honeywell International Inc., Dyson Ltd., De’Longhi S.P.A, BONECO AG, LG Electronics, and others.
More Valuable Insights on Humidifier Market
In the latest report by Future Market Insights, we offer an unbiased analysis of the global humidifier market, providing historical data for the period of 2015-2019 and forecast statistics for the period of 2020-2030. In order to understand the global market potential, its growth and scopes, the market is segmented on the basis of type (warm mist humidifiers, cool mist humidifiers, ultrasonic humidifiers, others), installation type (fixed, portable), sales channel (online/ecommerce, retail stores (physical)), end user (residential, commercial, industrial), across six major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, MEA).
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Key Questions Answered by the Report
- At what CAGR is the humidifier market expected to grow?
According to Future Market Insights (FMI), the humidifier market is anticipated to grow by 5.6% CAGR during the forecast period from year 2020 to 2030.
- Which are the top companies in humidifier market?
Some of the top companies in global humidifier market are Philips, Dyson Ltd., Conair, Neptronic, and others.
- Which category of humidifier is highly sought-after?
Cool mist humidifier is the most lucrative segment by product type of the humidifier market and anticipated to maintain the lead throughout the forecast period.
- Which is the preferred installation type in humidifier market?
Portable installation is the most preferred installation type in the global humidifier market.
- How are companies planning to gain competitive edge in humidifier market?
With competition getting tougher, key market players are focusing on more sophisticated and cost-effective product launching in order to target diverse end users.
- Who is the leading end user in the humidifier market?
Residential sector is the leading end user industry in the global humidifier market.
- Which is the largest market for humidifiers?
North America is the largest market for humidifiers.
- Which is the most popular sales channel for humidifier market?
Online/ecommerce sector is the most popular sales channel for humidifier market all over the world.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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