As per the researchers at Zion Market Research, the valuation of the global dehumidifier market in 2019 was around USD 3.09 billion and is projected to expand at about 6.6% CAGR during the forecast period. Some the prominent players active in the global dehumidifier market comprise General Filters, Inc., Electrolux Home Products, Inc., De’Longhi S.p.A, Haier Group Corporation, Honeywell International Inc, Heat Controller, Inc., Sunpentown International Inc., LG Electronics Inc., Whirlpool Corporation, Condair Group AG, Therma-Stor LLC, and Mitsubishi Electric Corporation. The top players have been spending greatly on R&D activities to build energy-efficient and cost-effective products. To cite, the Climatix technology was launched by Munters for air treatment in May 2018. This is a cloud-based tech with a gateway device that enables the GSM-supported dehumidifier connection with Climatix control. Users, with this system’s assistance, can manage humidity settings via remote location and scrutinize historical information from the equipment.
Flourishing Real Estate Sector Expected To Drive The Growth Of The Global Market
The global dehumidifier market growth is primarily propelled by the swift expansion of the real estate sector resulting in building of schools & residential buildings, departmental stores, and hospitals. Further, the rise in alertness about health and variations in weather conditions are other key factors projected to fuel the global market growth. In addition, increasing wakefulness about the advantages of upholding indoor air quality within commercial zones like malls and offices is expected to drive the market expansion. Nevertheless, the elevated price of dehumidifiers and the product seasonality are the factors expected to obstruct the growth of the global dehumidifier market. Nonetheless, rise in disposable income of customers and enhanced standard of living are projected to offer productive avenues for the market.
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By Product, Pump Segment Anticipated To Witness Considerable Growth Rate In Coming Period
The global dehumidifier market, based on product, is bifurcated into heat pump, ventilating dehumidifier, and chemical absorbent. Among these, the heat pump segment is anticipated to exhibit substantial expansion because of benefits presented by these devices, like low consumption of power, eco-friendliness, and high performance. Heat pumps are inexpensive substitutes for the dehumidification process in the commercial, industrial, and residential applications. Latest improvements in heat pumps comprise integration of superior cycle designs with heat-driven ejectors that enhance these devices’ efficiency.
North America To Continue Its Dominance Over Market During The Forecast Period
North America and Europe are established markets as highly developed energy-efficient systems have been obliged by government rules in these regions. The rising espousal in hotels and restaurants for retaining food quality and to maintain stock moisture-free is projected to boost the market growth during years to come. In 2018, the global dehumidifier market was ruled by North America in terms of revenue. Furthermore, Asia Pacific is anticipated to witness the greatest expansion over the forecast period on account of the rising need for maintenance-free and compact dehumidifiers. Nations like China, Japan, and India have widespread coastlines and thus, experience high levels of humidity. Requirement to uphold humidity levels in restaurants, hotels, homes, and numerous industries within the coastal regions is expected to drive the Asia Pacific market.
The global dehumidifier market is segmented as follows:
- Chemical Absorbent
- Heat Pump
- Ventilating Dehumidifier
- Cold Condensation
- Warm Condensation
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa