Air purifiers help in removing pollutants, allergens, and other harmful particles from the indoor air through filtration and disinfection. They help in reducing common allergies, respiratory issues, and improving overall indoor air quality. The growing air pollution levels due to increasing vehicular emissions, industrial activities, and smoke from tobacco and incense burning have led to rising demand for air purifiers in the GCC region.
The global GCC Air Purifier Market is estimated to be valued at US$ 127.3 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The increasing prevalence of air pollution in the GCC countries offers lucrative growth opportunities for the air purifier market. According to the WHO, out of the top ten most polluted cities globally, six cities are in the GCC region indicating worsening air quality issues. The rising pollution levels have led to increasing cases of asthma, COPD and other respiratory diseases among the population. This has boosted awareness regarding harmful effects of indoor air pollutants. The governments of GCC countries have also implemented various initiatives to curb air pollution, which is further expected to drive the demand for air purifiers during the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as the air purifier market in the GCC region is growing. However, established brands have significant brand recognition and economies of scale.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of numerous product options at varying price points. Buyers can negotiate on price and demand additional features.
Bargaining power of suppliers: Air purifier manufacturers have moderate bargaining power over suppliers of components as there are many component suppliers.
Threat of new substitutes: The threat of substitutes is low as there are limited product substitutes for air purifiers.
Competitive rivalry: The competitive rivalry is high among the existing players due to the presence of numerous global and regional brands.
SWOT Analysis
Strengths: Growing industrialization and urbanization leading to rising air pollution levels in the GCC region. Rising health awareness.
Weaknesses: Higher purchase cost compared to conventional air cleaning methods. After-sales services need strengthening in some markets.
Opportunities: Untapped rural markets. Growth in commercial sector to drive demand from hospitals, offices etc. Technological advancements in product effectiveness.
Threats: Economic slowdowns can impact demand. Rising environmental regulations may reduce pollution levels over time.
Key Takeaways
The GCC Air Purifier Market Growth is expected to witness high growth during the forecast period due to rising pollution levels across major cities in the region. Rapid urbanization and industrialization have deteriorated air quality which is raising awareness and increasing adoption of air purifiers. The global GCC Air Purifier Market is estimated to be valued at US$ 127.3 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.
The KSA air purifier market accounted for the largest share in GCC in 2023. Rising pollution in major cities such as Riyadh and Jeddah is driving sales. The UAE air purifier market is also growing at a high rate driven by worsening pollution in major commercial hubs such as Dubai.
Key players operating in the GCC air purifier market are E. & J. Gallo Winery, Constellation Brands, Inc., The Wine Group, Treasury Wine Estates, Vinexpo. E. & J. Gallo Winery holds the largest share. It offers a wide range of air purifiers catering to residential and commercial segments. Constellation Brands, Inc. has a strong focus on R&D and innovation, recently launching smart WiFi-enabled air purifiers.
For more insights, read- https://www.newsanalyticspro.com/gcc-air-purifier-market-trends-size-and-share-analysis/
