PUBLISHER: The Business Research Company | PRODUCT CODE: 1387904
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387904
“Humidifying Equipment 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 humidifying equipment 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 humidifying equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The humidifying equipment 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.
Humidifying equipment comprises devices employed to regulate and maintain the humidity levels within a room or space to ensure an appropriate level of moisture in the air. It serves the purpose of increasing the humidity, contributing to a more comfortable and healthier indoor environment.
The primary categories of humidifying equipment encompass warm-mist humidifiers, cool-mist humidifiers, ultrasonic humidifiers, and evaporative humidifiers. Warm-mist humidifiers, within the humidifying equipment market, are designed to generate and disperse warm and humid air, catering to applications in commercial, industrial, and residential settings. These products are typically made available to consumers through various distribution channels, which include multi-brand stores, exclusive brand outlets, online retail platforms, and other distribution methods.
The humidifying equipment market research report is one of a series of new reports from The Business Research Company that provides humidifying equipment market statistics, including humidifying equipment industry global market size, regional shares, competitors with a humidifying equipment market share, detailed humidifying equipment market segments, market trends and opportunities, and any further data you may need to thrive in the humidifying equipment industry. This humidifying equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The humidifying equipment market size has grown steadily in recent years. It will grow from $4.12 billion in 2023 to $4.21 billion in 2024 at a compound annual growth rate (CAGR) of 2.0%. The growth observed in the historical period can be attributed to several factors, including increasing concerns about indoor air quality (IAQ), the demands of the healthcare industry for maintaining appropriate humidity levels, and the use of humidifying equipment in various industrial applications. These factors collectively contributed to the growth of the humidifying equipment market in the past.
The humidifying equipment market size is expected to see steady growth in the next few years. It will grow to $4.63 billion in 2028 at a compound annual growth rate (CAGR) of 2.4%. Anticipated growth in the forecast period can be attributed to various factors, including a focus on energy efficiency, concerns related to climate change and changing weather patterns, the importance of infection control in healthcare and other settings, and the expanding residential market. Moreover, key trends expected in the forecast period encompass the integration of smart and Internet of Things (IoT) technologies into humidifying equipment, the development of hybrid systems, and a growing emphasis on customization and scalability to meet the diverse needs of consumers and industries.
The rise in diseases like asthma, sinusitis, and allergies, associated with dry air, has raised awareness among consumers regarding the necessity to maintain specific humidity levels. For example, in March 2023, as reported by the Asthma and Allergy Foundation of America, 39.6% of adults aged 18 and older with asthma experienced one or more asthma attacks in 2021. Humidifying equipment, releasing steam or water vapor to enhance air humidity, assists in addressing issues caused by dry air, thus escalating the demand for such equipment due to the increasing prevalence of asthma, sinusitis, and other allergies related to dry air.
The surge in pollution levels is anticipated to drive the expansion of the humidifying equipment market. Pollution involves the introduction of harmful substances into the environment, impacting living organisms and ecosystems negatively. Humidifying equipment aids in combating rising pollution levels by enhancing air quality. It functions by trapping and eliminating particulate matter from the air, reducing its adverse effects, and also assists in managing indoor pollution sources by maintaining optimal humidity levels, thereby limiting the release of indoor pollutants. According to the US Environmental Protection Agency in May 2023, around 66 million tons of pollution were emitted into the atmosphere in the United States. Consequently, the increasing pollution levels act as a catalyst for the growth of the humidifying equipment market.
The high expenses associated with the installation and maintenance of humidifying equipment significantly impede the global market's growth. Central humidifiers work consistently to elevate relative humidity and are available in varied sizes, types, and installation styles, significantly influencing overall costs. For example, the average cost of installing a central humidifier ranges between $600 and $1,000. Basic humidifiers have an installation cost of approximately $487, while steam humidifiers can cost up to $1,532. The substantial cost of installing and maintaining such equipment is anticipated to hamper the market's growth trajectory.
Prominent market players are strategically focusing on developing cutting-edge, innovative products to capture a wider customer base and maintain a competitive edge in the humidifying equipment market. These manufacturing companies are integrating advanced technologies to introduce innovative portable smart products. For instance, in March 2021, Condair Group AG, a Switzerland-based manufacturer specializing in commercial and industrial humidification and evaporative cooling systems, launched the New Evaporative Humidifier Condair MC, an in-duct evaporative humidifier and cooler. This single unit can provide up to 360kg/h of humidity and approximately 245kW of adiabatic cooling to an air handling unit (AHU), consuming less than 0.15kW of electrical energy.
Key companies in the humidifying equipment market are concentrating on the development of innovative products such as the N-200 and N-300 high-performance humidifiers to maintain their market positions. The N-200 and N-300 models are equipped with enhanced, long-lasting water softening and demineralizing filters, diminishing mineral buildup and the appearance of annoying white particles, thus producing a cleaner mist. Their straightforward, quick setup, easy maintenance, and long operational times are key features that blend seamlessly into any space up to 485 square feet. For example, in August 2022, TruSens, a US-based air purifier and accessories provider, introduced the N-200 and N-300 models, integrating the company's exclusive SensorPodTM technology. The SensorPod serves as a humidity monitor and a remote control. Positioned up to 33 feet away from the humidifier, the SensorPod continuously monitors the room, instructing the unit on the ideal mist amount to maintain optimum humidity levels. Users can adjust the humidifier's power, misting speed, and dimmer using the remote. The control panel's user-friendly touch-button interface displays accurate moisture levels, adjusting as optimal humidity is reached.
In July 2021, Medline, a US-based biomedical company, acquired Hudson RCI for an undisclosed sum, aiming to expand its portfolio of respiratory solutions and broaden the range of offerings for patients. Hudson RCI, a Swedish-based company specializing in manufacturing humidifiers, was part of this acquisition.
Major companies operating in the humidifying equipment market include Armstrong International Limited, Boneco AG, Carel Industries S.p.A., Crane Co., Condair Group AG, Honeywell International Inc., DriSteem Corporation, Koninklijke Philips N.V., Dyson Ltd., Winix Inc., Guardian Technologies LLC, Carrier Corporation, Levoit Technologies LLC, HoMedics LLC, Richardson-Vicks Inc., Elechomes US Inc., Smartmi International Ltd., Vitruvi US Corp., TruSens LLC, Lasko Products LLC, Sunvalley Group LLC, Aircare Technologies India Pvt. Ltd., Air Innovations LLC, CVS Health Corporation, Essick Air Products Inc., Hunter Douglas N.V., Sprout Social Inc., Stadler Form Aktiengesellschaft, Vornado Realty Trust, Magic Technology Co. Ltd., Hey Dewy Inc.
The Asia-Pacific was the largest region in the humidifying equipment market in 2023. North America was the second largest region in the humidifying equipment market. The regions covered in the humidifying equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the humidifying equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The humidifying equipment market consists of sales of vents, drainers, regulators, and gas-fired heater. 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.