World News: 11:30 GMT Tuesday 3rd December 2019. [Meticulous Market Research Pvt. Ltd. via Globe Newswire via SPi World News]
London, Dec. 03, 2019 (GLOBE NEWSWIRE) -- According to a new market research report, published by Meticulous Research®, the global dehumidifier market is expected to grow at a CAGR of 5.4% from 2019 to reach $3.8 billion by 2025.
In order to maintain the desired levels of humidity, the dehumidifiers are widely used across industrial, residential, and commercial sectors. Dehumidifiers control the level of humidity in air by extracting the excess moisture from the air. The household appliance dehumidifiers are used to eliminate musty odor for healthy and comfortable living. Dehumidifiers are also widely used across manufacturing, packing, and storing applications in pharmaceutical industry; food processing; electronic storing; defense equipment storing; and coffee/tea drying and packing areas, to maintain low humidity levels in order to prevent product deformation or corrosion on the precision materials.
The global warming has been a pressing issue for past few decades with rise in environmental temperatures. The global climate conditions are continuously changing mainly due to the rising human population, land use, energy use, and pollution, among others. This condition is increasingly recognized as one of the greatest public health challenges. Climate change-related temperature hike is likely to increase the humidity levels, further resulting in increasing threat to human health in many parts of the world such as Southeastern U.S., the Amazon, Western and Central Africa, Southern areas of the Mideast and Arabian Peninsula, and Northern India and Eastern China. The combination of heat and high humidity is leading to several health issues in these regions. Thus, in order to maintain healthy life with ideal environment, many people are inclining towards using moisture or humidity controllers such as dehumidifiers.
The global dehumidifier market is primarily segmented by product type (refrigeration dehumidifiers and absorption dehumidifiers), by application (industrial, commercial, and residential), and geography.
On the basis of product type, absorption dehumidifier segment is estimated to command the largest share of the overall dehumidifier market in 2019. The high demand for absorption dehumidifier owing to its wider applications across many industries with its higher efficiency and cost-effectiveness in the control of air moisture and humidity has led to the largest share of this segment.
On the basis of application, industrial application segment is estimated to command the largest share of the overall dehumidifier market in 2019. The growth in this market is mainly driven by growing global economy and industrialization. In addition, stringent government norms mainly focusing on the global warming as well as growing demand for moisture control in manufacturing, processing, packaging, and storing industries is further supporting the growth of this market.
Geographically, the global dehumidifier market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The factors, such as growing construction industry, changing climatic conditions, growing industrialization, rising consumer inclination towards a healthy environment, and various government initiatives in the North American region have led to the largest share of the region in the global dehumidifier market, followed by Europe and Asia-Pacific. However, the Asia-Pacific dehumidifier market is developing and expanding at a significant pace due to rapid urbanization, rising demand for compact and maintenance-free dehumidifiers, growing construction industry, changing climatic conditions, and growing industrialization and need for humidity control in wide range of industries. In addition, surging number of airborne diseases and allergies due to high humidity, increasing disposable income, and improvement in standard of living is further supporting growth of this market in this region.
Dehumidifiers market is fragmented in nature with the presence of various global and local players. The major players operating in the global dehumidifiers market are focusing on various growth strategies to establish their presence belligerently, and garner greater market share. Some of the key players operating in the global dehumidifier market are Honeywell International Inc. (U.S.), Whirlpool Corporation (U.S.), Bry-Air Pvt. Ltd. (India), Seresco Dehumidifiers (Canada), Danby Products Inc. (Canada), Microwell, spol. s.r.o. (Slovakia), Carrier Corporation (U.S.), Mitsubishi Electric Corporation (Japan), LG Electronics (South Korea), Condair Group (Switzerland), AB Electrolux (Sweden), Sunpentown International Inc. (U.S.), Therma-Stor LLC (U.S.), De’Longhi Group (Italy), and General Filters, Inc. (U.S.), among others.
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Globe Newswire: 11:30 GMT Tuesday 3rd December 2019
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