The global dehumidifier market is anticipated to reach USD 3.54 billion by 2022, according to a new report by Grand View Research, Inc. Increasing construction activities worldwide is expected to primarily contribute to industry growth. Technological advancements such as integration into existing HVAC equipment is expected to boost industry growth over the forecast period.
Price, energy efficiency, and size are anticipated to be critical parameters affecting consumer buying behavior. Product recall owing to technical issues is expected to hinder industry growth over the forecast period. Increasing competition due to the presence of a large number of players has lead to price reductions, which may affect profitability. Growth of the organized retail industry in Asia Pacific, Latin America and Africa has further intensified competition.
North America dehumidifier market share by application, 2012 – 2022 (USD Million)
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Further key findings from the report suggest:
- Increasing demand for energy efficient dehumidification is anticipated to drive heat pumps demand over the next seven years. These products are expected to continue accounting for over 10% of the overall revenue during the forecast period. Chemical absorbent or desiccant products are expected to witness growth on account of growing demand in office buildings, restaurants, food and beverage industry, hotels, and medical centers.
- The industry can also be classified based on application into residential, industrial, and commercial segments. Industrial is anticipated to be key application over the forecast period owing to increase usage of dehumidifiers in maritime, cold storage, food and beverage, and construction sector. The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) formulated the Improved Indoor Air Quality (IAQ) and ventilation guideline which is expected to drive demand in residential applications.
- Increasing adoption in hotels, supermarkets, offices, restaurants, swimming pools, schools, and multiplexes is expected to drive the commercial segment. Residential dehumidifiers market is expected to be driven by rising health awareness and increasing disposable income.
- Rising number of restaurants and hotels coupled with the growing construction industry is expected to propel North America dehumidifier market growth. Dehumidifiers are used for maintaining moisture-free food quality to enhance customer satisfaction. Competition in North America and Europe has intensified owing to regional companies offering products at low price.
- Notable companies operating in the global dehumidifier industry include Electrolux (Frigidaire), De’Longhi Appliances S.r.I, Haier Group, Heat Controller, Inc. (Comfort Aire), General Filters, Inc., and Honeywell International Inc. Other prominent vendors include Therma-Stor LLC, Sunpentown International Inc., LG Electronics, Inc., and Whirlpool Corporation.
For more information: http://www.grandviewresearch.com