PUBLISHER: The Business Research Company | PRODUCT CODE: 1429391
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429391
Dehumidifiers are electrical devices utilized to reduce and control the humidity level in the air, typically for health or comfort considerations. They effectively eliminate musty odors and inhibit the growth of mildew by extracting water from the air. This category only encompasses goods and services traded among entities or sold to end consumers.
The primary types of dehumidifiers include chemical absorbents, heat pumps, and ventilating dehumidifiers. A heat pump operates as a heat engine in reverse. The dehumidifier technologies encompass cold condensation, sorption, warm condensation, and other technologies. The applications span commercial, industrial, and residential sectors.
The dehumidifiers market research report is one of a series of new reports from The Business Research Company that provides dehumidifiers market statistics, including dehumidifiers industry global market size, regional shares, competitors with a dehumidifiers market share, detailed dehumidifiers market segments, market trends and opportunities, and any further data you may need to thrive in the dehumidifiers industry. This dehumidifiers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The dehumidifiers market size has grown strongly in recent years. It will grow from $4.42 billion in 2023 to $4.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The expansion in the historical period can be ascribed to an upswing in disposable income and a surge in the construction of shopping malls.
The dehumidifiers market size is expected to see strong growth in the next few years. It will grow to $5.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the projected period can be attributed to the increase in urbanization, the rise in spending on comfort and luxury, the growing demand for energy-efficient products, the increasing population growth, the adoption of dehumidifiers in food packaging and processing, and stringent regulations on air pollution in the industrial and commercial sectors. Major trends in the forecast period include investment in developing IoT-enabled dehumidifiers, a focus on chemical absorbent dehumidifiers to reduce energy consumption and enhance revenue, the development of customizable dehumidifiers to boost product utilization and revenue, a focus on collaborating or partnering with power plants to provide equipment and post-purchase services, consideration of M&A growth strategies to gain access to new product technologies, expand the customer base and geographic markets, increased investment in climatix devices and technology to strengthen the product portfolio and increase revenue, and a focus on investing in desiccant dehumidification technology for lower equipment costs.
The increase in disposable income played a crucial role in the expansion of the dehumidifiers market. With a rise in disposable income, households have more financial resources for spending, leading to an uptick in product purchases, particularly those contributing to health benefits. According to the Organization for Economic Co-operation and Development (OECD), the average household net adjusted disposable income per capita across OECD countries stands at $30,563 per year. The surge in disposable income heightened the demand for consumer spending, consequently propelling the dehumidifiers market during the specified period.
The anticipated growth of the dehumidifiers market is expected to be driven by the increasing number of warehouses. Warehouses play a pivotal role in the supply chain, serving as essential spaces for storing raw materials and finished goods, particularly in sectors such as manufacturing and distribution. Dehumidifiers find application in warehouses to eliminate excess moisture from the air, safeguarding stored goods by maintaining humidity levels at safe thresholds. For example, as of 2020, Russell and Dawson, a US-based provider of architectural design, engineering & construction services, reported the existence of 11,000 operational warehouses in North America, encompassing over 4.7 square feet of industrial space. Plans for the construction of an additional 190 million square feet of warehouse space were underway in 2020, and in 2021, over one billion square feet of storage space was expected to be utilized in the US. Consequently, the expansion of the warehousing industry is a key driver for the dehumidifiers market.
The utilization of Climatix in dehumidifiers is becoming an increasingly prominent trend in the market. Climatix is a technological solution designed for the cost-effective and efficient control of heating, ventilation, and air conditioning equipment (HVAC). It is specifically crafted for heating or cooling applications and seamlessly integrates into building automation systems. Notably, companies such as Munters are incorporating Climatix to enhance the performance efficiency of their dehumidifiers.
Major players in the dehumidifier market are directing their efforts toward the development of innovative products, with a focus on high-efficiency dehumidifiers, to offer reliable services to customers. High-efficiency dehumidifiers are designed to extract moisture from the air using less energy compared to traditional dehumidifiers. For example, in September 2023, Quest Climate, a US-based manufacturer of commercial and industrial dehumidifiers, introduced the Quest 100. This dehumidifier features M-CoRR Technology and stands out as the smallest in the company's lineup. It provides smaller-scale cultivators with an efficient means of achieving optimal output in a healthy environment through high-efficiency equipment.
In August 2022, Dreison International Inc., a US-based manufacturer of proprietary products, completed the acquisition of Innovative Dehumidifier Systems LLC for an undisclosed amount. This strategic move is anticipated to assist Dreison International in expanding its product portfolio and reaching new customer segments. Innovative Dehumidifier Systems LLC is a US-based provider specializing in energy-efficient dehumidification solutions.
Major companies operating in the dehumidifiers market report are The Munters Group, Electrolux AB, Delonghi Appliances S.R.L, Haier Smart Home Co., Ltd., LG Electronics Inc., Resideo Technologies Inc., Therma-Stor LLC, Whirlpool Corporation, Dantherm AS, Seibu Giken DST AB, Daikin Industries Ltd., Panasonic, Xiaomi Corporation, Coway, Samsung Electronics Co.Ltd., Solenco, Midea, TCL Corporation, Sanyo Electric , Hysure , Condair, Sunbeam Products Inc., YADU, Little Swan, Homelabs LLC company, Pure Enrichment, Frigidaire, Thermomatic Group, Bridgeport, Kiwi Energy, Norman Wright Mechanical Equipment Corporation, Inc., Alessa Industries Co, Indus International FZC, Maico Gulf L.L.C, Zamil Air Conditioners, CFW environmental, GMC aircon
The Asia-Pacific was the largest region in the dehumidifiers market in 2023. North America was the second largest region in the global dehumidifiers market. The regions covered in the dehumidifiers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the dehumidifiers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The dehumidifiers market consists of sales of refrigerant, desiccant, and whole house units. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Dehumidifiers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on dehumidifiers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for dehumidifiers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The dehumidifiers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.