At 7.2% CAGR, the Dehumidifier market is estimated to accumulate US$ 4,555.9 million by 2028, says The Insight Partners
According to our latest market study on “Dehumidifier Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market was valued at US$ 2,797.5 million in 2021 and is projected to reach US$ 4,555.9 million by 2028; it is expected to grow at a CAGR of 7.2% from 2021 to 2028.
Rising urbanization, increasing disposable income, growing expenditure on comfort and luxury, and low air quality are a few factors driving the growth of the global dehumidifiers market. The improving economic conditions across the world coupled with urbanization have increased construction in various industries. There has been an increase in the construction of malls, hospitals, commercial buildings, hotels, and manufacturing facilities, which propels the demand for dehumidifiers. Moreover, technological advancements, coupled with changes in government and organizational regulations for energy consumption, are contributing to the market growth. In addition, a few factors such as increasing energy consumption, growing industrial sector, and surging population are generating air pollution in urban areas. With rising urbanization and growing need for comfortable and healthy lifestyle, Asian and European are getting inclined to use dehumidifiers for eradicating musty odor and humidity from the room/living space. Increasing harmful dust particles in European air are demanding advanced air purifiers, which can clean pollutants and particles such as dust, mold, and viruses. As European population is allergic to dust and other particles, the demand for dehumidifiers is rising in the region.
A few key players operating in the global dehumidifier market are Haier Group Corporation; Electrolux AB; LG Electronics; Whirlpool Corporation; De’Longhi Appliances S.r.l.; General Filters, Inc.; Sunpentown International Inc.; Therma-Stor; and Munters and Resideo Technologies, Inc. Several other market players have been analyzed to understand the market.