Dehumidifier Market predicted to grow at a CAGR of roughly 6.90% during the forecast period (2021-2028)
Absolute Market Insights recent analysis of the Dehumidifier Market finds that the increasing demand from the Dehumidifier Market is anticipated to register rapid growth owing to several health benefits provided by these devices. is expected to witness maximum growth in the Dehumidifier Market during the forecast period. The global Market revenue stood at a value USD 3,338.58 Mn in the year 2021.
Market Synopsis
A dehumidifier is an air conditioning device which reduces and maintains the level of humidity in the air. This is done usually for health or thermal comfort reasons, or to eliminate musty odor and to prevent the growth of mildew by extracting water from the air. It can be used for household, commercial, or industrial applications. Large dehumidifiers are used in commercial buildings such as indoor ice rinks and swimming pools, as well as manufacturing plants or storage warehouses. Typical air conditioning systems combine dehumidification with cooling, by operating cooling coils below the dewpoint and draining away the water that condenses.
Dehumidifier Market on the basis of different parameters, such as forward/backward integration, economies of scale, the share of various distribution channels, various factors affecting consumer behaviour such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences. This data is likely to help the industry stakeholders and stimulate the decision-making process.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Dehumidifier Market is predicted to grow at a CAGR of roughly 6.90% during the forecast period.
- The Dehumidifier Market was estimated to be worth roughly 3,338.58 Mn in 2021 and is expected to reach USD by 2028; based on primary research.
- On the basis of region, is projected to dominate the worldwide Dehumidifier Market.
Market Dynamics:
Industry Analysis:
The report covers exhaustive analysis on the global Dehumidifier Market. Industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. It includes an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies. Moreover, the report covers a thorough analysis drivers, restraints, and opportunities considering regional growth factors, technological advancements, and availability of substitute, regulatory norms, and such other growth impacting factors.
Drivers:
Dehumidifiers significantly prevent mold growth, dust mites, and other fungal & bacterial growth in households by removing excess humidity. This functionality provided by dehumidifiers reduces the risk of allergies, thereby supporting their high market demand. These devices also provide a clean and healthy environment with high-quality breathable air that keeps the inhabitants of the household healthy.Increasing applications of dehumidifiers in the food & beverages and hospitality industries are expected to propel the dehumidifier market statistics. High humidity levels damage food items that are stored for a longer period in hotels, restaurants, and retail stores. Dehumidifiers prevent food items from getting spoiled by removing excess moisture content in the air. Additionally, dehumidifiers are also witnessing a high demand in the processing, packaging, and coating industries to ensure the maintenance of required humidity levels. Several paper manufacturing and printing companies have installed dehumidifiers to achieve efficient printing and packaging of papers
Restraint:
Some of the key factors hampering the dehumidifier market growth include high cost and complex installation of dehumidifiers. The cost of these devices is dependent on the quality of the raw materials & components used and the size of the device. Large whole house dehumidifiers are expensive while small portable devices are comparatively inexpensive. Industrial dehumidifiers require the assistance of trained professionals for their installation, repair & maintenance, thereby contributing to the high cost of purchase and operation of these devices. The impact of these industry challenges is expected to reduce with increasing R&D investments from market players to reduce the initial cost of purchase of these devices.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments worldwide implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities worldwide were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pervasive might lead to a significant delay in the commercial roll-out of the packaging industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Quarterly Market Revenue Forecast 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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The Report on Dehumidifier Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historical Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America dominated the global dehumidifier market in 2020. In United States and Canada, dehumidifiers are used extensively and have a huge demand. In the last few years, there has been a lot of spending on construction of warehouses and commercial buildings, which have substantially fuelled the market growth. Moreover, the rising awareness amongst the population for a healthier environment along with a significant focus to lowering energy consumption are the driving factors for the increased demand of dehumidifiers in the region. Furthermore, the U.S. Department of Energy (DOE) has issued regulations for conservation of energy that imposes more stringent energy standards for dehumidifiers, which entails that dehumidifiers are based on new energy efficiency metric and Integrated Energy Factor (IEF).
List of Prominent Players in Dehumidifier Market:
- AprilAire
- Bry-Air (Asia) Pvt. Ltd.
- Condair Group
- De’Longhi Appliances S.r.l
- Frigidaire
- GE Appliances, a Haier company
- Guangdong PHNIX Eco-energy Solution Ltd.
- Honeywell International Inc.
- LG Electronics.
- Midea
- Munters
- SEIBU GIKEN DST
- Sunpentown Inc
- Therma-Stor
- Whirlpool
- INNOVATIVE DEHUMIDIFIER SYSTEMS
- Dehumidifier Corporation of America
- Other Industry Participants
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Dehumidifier Market?
- How will the Dehumidifier Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Dehumidifier Market?
- What is the Dehumidifier Market drivers and restrictions?
- What will be the CAGR and size of the Dehumidifier Market throughout the forecast period?
This market titled Dehumidifier Market will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Market Size Provided for Years: 2016-2028
Base Year: 2021
Historic Years: 2016-2020
Forecast Years: 2022-2028
Segmentation Covered:
- By Type
- Heat Pump
- Chemical Absorbent (Desiccant)
- Ventilating Dehumidifier (Refrigerant)
- By Technology
- Condensation
- Sorption
- By Installation
- Wall Mounted
- Portable
- Others
- By Capacity
- Below 80 Pints
- 80 Pints to 160 Pints
- Above 160 Pints
- By Application
- Industrial
- Residential
- Commercial
- By Distribution Channel
- Online
- Offline
Region & Counties Covered
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Report Coverage
- Market growth drivers
- restraints, opportunities
- Porter’s five forces analysis
- PEST analysis
- Value chain analysis
- Regulatory landscape
- Technology landscape
- Patent analysis
- Market attractiveness analysis by segments and Regional
- Company market share analysis
- COVID-19 impact analysis
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