Market players are at present focusing on attaining a competitive edge by products customization as per the dynamic customer needs. This is likely to help them extend their consumer base.
DUBAI, UAE / ACCESSWIRE / December 1, 2020 / As per a new study by FMI, the humidifiers market is likely to register at CAGR at 5.6% between 2020 and 2030. The growth can be primarily ascribed to growing awareness amid consumers about the significance of upholding healthy indoor air quality. Extensive usage of humidifiers across industrial, residential, and commercial sectors to enhance indoor air quality is furthering the market growth. On the other hand, despite foreseeing disruptions owing to the COVID-19 outbreak, the market will foresee impressive growth in the coming years.
"Players are focusing on launching smart humidifiers by integrating cutting-edge technologies which will allow humidifiers to sense the existence of allergens in a room. Several other similar innovations are proceeding, which will allow the market growth," says an FMI analyst.
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Humidifier Market - Key Highlights
- North America will remain the lucrative region owing to the region being highly advanced based on innovations in technology.
- Cool mist humidifiers will capture a higher market share among humidifier types over the projected period.
- Portable humidifiers are favored across both commercial and residential sectors owing to their hassle free maintenance, ease of handling, and cost efficacy.
- The ecommerce or online distribution channel has position itself at the top among other sales channels.
- Residential sector is likely to bolster market growth throughout the forecast period.
Humidifier Market - Drivers
- Rising awareness for indoor air purification to prevent skin irritation, risk of bacteria or mold, and other problems boost demand for humidifiers.
- Rising demand for different types of humidifiers such as warm mist, cold mist, ultrasonic, and others.
- Launching humidifiers with advanced functionalities are steering impressive sales prospects.
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Humidifier Market - Restraints
- Need for expert handling, installations, and maintenance along with high cost has limited the adoption amid customers, hampering sales.
- Humidifiers such as warm mist humidifiers pose threat of catching fire, which is hindering their widespread adoption.
COVID-19 Impact on the Market
The COVID-19 outbreak has ensued in constrained growth of the humidifier market. Several factors such as closure of manufacturing units amid lockdown, supply chain disruptions, limited labor supply, along with others have been restricting market operations.
While, sales through retail channels is visibly hampered due to lockdown, producers are shifting their focus towards fortifying their online presence. Subsequently, despite the restraints, the market will foresee higher volume of customer traffic across ecommerce platforms.
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Competitive Landscape
Major companies functioning in the global market include Honeywell International Inc., Philips, De'Longhi S.p.A, Dyson Ltd., BONECO AG, Condair, LG Electronics, Carel Industries SpA, Smart Fog Inc., Neptronic, STULZ, DriSteem, Levoit and Aprilaire.
As the market is growing rapidly and competition is getting aggressive in the market, leading brands are presenting advanced models to attain a competitive edge over their rivals.
About the Study
The study offers readers a comprehensive assessment of the humidifier market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights 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 key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
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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Report: https://www.futuremarketinsights.com/reports/humidifiers-market
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SOURCE: Future Market Insights