Views: 0 Author: Site Editor Publish Time: 2022-07-01 Origin: Site
An overview of the humidifier market and growth tendency
Key growth factors for the humidifier market 5.8% CAGR projection
Primary roadblocks to this expansion
Humidifier has, over the years, evolved from being a luxury to a necessity. What it does essentially is to add moisture to the air and ensure you’re not breathing in cold air. The application of a humidifier is pronounced not only in cold areas with dry air but also for anyone looking to inactivate viruses from their atmosphere.
Since the last decade, there has been a surge in the awareness among customers about pathophysiological conditions such as sinusitis, asthma, dry cough, bloody nose, irritations, and some allergies. This rising awareness has served as the magnet attracting more people to humidifiers and increasing their demands accordingly.
Especially in winter, when the humidity is at its less-than-normal point, different health issues relating to the eyes, skin, and respiratory system can creep in without resistance. However, getting a humidifier installed can help optimize the relative humidity, and as such, offer a conducive indoor environment for everyone. In fact, humidifiers have quite a terrific track record combating chronic obstructive pulmonary diseases (COPD).
Furthermore, it is important to note that the relevance of humidifiers is not limited to residential or small space apartments. It also holds a boundless range of applications in industrial and large-scale healthcare settings. Depending on the type of humidifier you opt-in for, you can maintain the normal 40-60% humidity anywhere indoors. Consequently, you get to rid yourself of worries relating to mold growth, skin irritation, bacteria buildups, and others.
As the access to information becomes more seamless and straightforward, consumers globally will keep realizing how necessary it is to optimize indoor air quality. So, it is safe to say that the traction this innovative appliance is getting today is still insignificant compared to what is to come. From 2022 to 2030, the global humidifier market is, in fact, projected to see a 5.8% rise in its CAGR. Now, the question is, “what factors will facilitate or catalyze this rise?”
Catalyzing humidifier sales and market growth to meet and exceed the above-mentioned projection banks heavily on how innovative the manufacturers are.
As evident in the current sales value and reviews of leading humidifiers, it's undeniable that top manufacturers recognize the influence of innovation and are leveraging it accordingly. Most of the leading products are always in sync with the latest trends, and contemporary lifestyle, all equipped with cutting-edge features and functionalities.
For example, a popular humidifier manufacturer launched a cutting-edge humidifier that can last up to 50 hours and automatically. To further streamline the experience, it further incorporates innovations such as automatic shut-off, oil diffuser, led indicators for the empty tank, quiet care technology that reduces noise, automatic moisture level optimizer considering the current weather, and several other features to cement the product as being marketable.
These innovative features are primarily tailored to upscaling the portfolio of the product. In fact, almost every heavyweight stakeholder now accentuates the need for a competitive edge by tailoring their products to suit the dynamism of customer needs. And of course, this will help position the brands for growth and further widen their already expanding consumer base.
The only thing that could potentially impede the growth of this market to the expected level is the outrageous maintenance costs, monetarily and in terms of expertise. Humidifier demands considerable monetary and expertise costs not only for installation and handling but also for maintaining it. And as such, its adoption is still in its infancy. It is still limited to a narrow spectrum of societies. Furthermore, the warm mist humidifier and a few other types can catch fire easily if used in an inconducive environment. This further impedes their global adoption to a significant extent.
However, as mentioned earlier, innovation is the key to market growth. If manufacturers can consider these potential roadblocks and tailor products to address them accordingly, then we should be expecting more than a geometric surge in humidifier adoption.
The North American humidifier market is arguably the most matured globally, with Europe as a close competitor. This is no surprise since North America has always been synonymous with technological innovations. Besides its innovation, the increasing health awareness amongst the American populace coupled with the emerging government regulations accentuating healthy under spaces across the United States doubles as a support system for the market growth. The influence of organizations such as the US Environmental Protection Agency (USEPA), as well as the ASHRAE, cannot be overemphasized in the potential growth of the humidifier market.
Humidifiers are deemed excellent in optimizing humidity levels to the comfortable, healthy, and recommended ranges. This is particularly handy for extreme weather conditions attributable to the united states. And as such, the need for humidifiers across industrial, commercial, and residential spheres has, over the years, been seeing consistent geometric growth. With the better ease of information projected for years to come, will are potentially witnessing explosive market growth.
There are projections that Europe will have the biggest market share for humidifiers. Not to mention the increasing need for installation industrially, a rise in issues relating to static electricity, surging production by a number of manufacturers, coupled with a vast range of trends are projected to be the primary drivers of the European humidifier ecosystem between 2022 to 2030.
Put simply, the growth of the humidifier market in Europe banks heavily on the growth of the IT economy. The increasing demand for ultrasonic humidifiers coupled with the higher level of awareness of what humidifiers can do is also a major player in the growth.
The Chinese humidifier market has been gaining significant traction over the years. This is largely due to the climatic instability that clouds the country. The temperature levels vary, and so does the humidity level, making the need for a humidifier even more pronounced. The emergence of cutting-edge functionalities, as well as the increasing presence of tech giants in the humidifier market, is establishing a profitable growth prospect in China. Besides, cool mist humidifiers are and will potentially keep being dominant across the East Asian Humidifier market in years to come.
In terms of traction gained over the years and attributable revenue, cool mist reigns supreme. These humidifiers are known for their ability to offer top-notch saturation with a reliable track record of eliminating germs and bacteria. They are also perfect for use with medicated products, helping them offer soothing relief for anyone dealing with skin irritation. Besides, considering its unrivaled ability to protect respiratory, buccal, and nasal cavities and passageways from irritation arising from bacterial infection, cool mist humidifiers have clinched an unwavering spot as the preferred choice of several stakeholders both in the industrial and residential spheres.
Considering these factors, the dominance of cool mist humidifiers is expected to remain consistent over the other types in years to come.
The demand for a more streamlined, optimized, and healthy indoor environment is the primary driver for the humidifier. And expectedly, this demand is more pronounced in the residential sector. By the end of 2022, there are projections for the residential sector to take up over 45% of the humidifier market share. More and more people across the residential sector are ever-ready to spend a fortune on the humidifier in a bid for a healthier and more optimized lifestyle.
Several constraints, including the need to maintain healthy indoor air which is devoid of bacteria, the need to relieve respiratory concerns, cater to skin irritation and several other pathologies have been more pronounced in the residential sector. Little wonder an increasing demand followed suit.
Humidifier manufacturers recognize this and as such, are inclined to integrate a number of smart home functionalities into their humidifiers. This is also in sync with the growing demand for a smart home. As people seek smart, sophisticated, and connected techs in residential areas, that leaves a considerable growth tendency for the humidifier market.
The emergence of covid 19 led the global economy to put a halt in manufacturing, took a toll on raw materials availability, and caused several other detrimental effects. These effects, coupled with the after-effects have led consumers to prioritize things related to the emergency sector, which briefly took a toll on less-emergent ones such as air humidifiers.
However, governments across the world, alongside several international bodies started to sensitize consumers and release guidelines that accentuate the need for a better indoor environment. As these guidelines keep gaining hearts, so does the increasing awareness of indoor air quality. And consequently, more eyes are opening to the wonders of air humidifiers.
Moving forward, more and more people now opt-in for humidifiers to facilitate healthy and safe living. In fact, the pandemic also served as an eye-opener, indicating the need for a safer indoor environment. Hence, it plays a role in the surging traction of air humidifiers.
Foshan Smillon Electrical Appliance Co., Ltd.
Building No.24, Haitian Road No. 88, Hecheng Street, Gaoming District, Foshan City, Guangdong Province, China
Room 1301, Building No.27, Lihe Science Park No.99, Taoyuan East Road, Nanhai District, Foshan City, Guangdong Province, China