Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Household Humidifier market.
Trusted Business Insights presents an updated and Latest Study on Household Humidifier Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Household Humidifier market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Household Humidifier Market
The global household humidifier market size was valued at USD 2.77 billion in 2018 and is projected to register a CAGR of 4.6% during the forecast period. Consumer inclination for well-maintained air humidity and better household air quality is driving the growth. Furthermore, increased concerns over the adverse effects associated with dry air, such as dry skin, dry throat, nose irritation, dry cough, sinus congestion, and bloody noses, is expected to propel the demand for humidifiers.
Heating systems can cause dry indoor air during winter season hence, the residential sector is anticipated to register significant rise in demand for household humidifiers. Generally, during winter months, the Relative Humidity (RH) of air drops lower than normal RH level (40% to 50%). This can lead to several health issues, especially related to skin, eyes, and respiratory system.
Humidifiers maintain proper humidity and provide a safe electric environment by effectively reducing static electricity. These products are also useful for reducing the symptoms of Chronic Obstructive Pulmonary Disease (COPD). Awareness regarding these advantages are projected to bode well for the overall demand for household humidifiers during the forecast period.
Humidifiers have been gaining popularity among indoor plant owners, as these plants require specific temperature and humidity levels for growth. Rising prevalence of sinusitis, asthma, and other allergies caused by dry air has raised awareness regarding the importance of proper humidity level. As a result, the household humidifier market is anticipated to expand at a significant pace in near future.
Distribution Channel Insights
Offline distribution channel held the largest market share of over 80% in terms of revenue in 2018. Majority of the consumers prefer specialty stores for buying home appliances as they provide exclusive installation and after-sale services by the product specialists. Offline channels are expected to have high penetration in emerging economies including China and India where the consumers prefer brick and mortar for purchasing appliances including household humidifiers.
Online segment is expected to expand at the fastest CAGR of more than 5% from 2019 to 2025. Rapid adoption of e-commerce and digitalization has been fueling the online sales of the household humidifiers. Third-party logistics have been benefiting e-commerce as they help enhance customer satisfaction, service delivery, and efficiency. In addition, growth of online wallets and payment platforms including Payoneer and Amazon Payments has been fueling the growth of e-commerce sector. The timesaving shopping experience along with effortless transactions is expected to drive consumer inclination toward using online channels to buy household humidifiers.
Product Insights of Household Humidifier Market
In 2018, the portable product segment held the held the largest market share of more than 90% in terms of revenue. Portable household humidifiers are generally used for humidifying a single room. On the other hand, whole-house or furnace products can help maintain humidity levels of the entire house as these systems are connected to an HVAC system of the home.
The portable segment is further divided into cool mist, warm mist, and ultrasonic. Warm mist household humidifiers led the global market, as they offer better protection against bacteria and mold. In addition, they can produce steam with fewer minerals than other humidifiers. This product type is well suited for the winter seasons.
Ultrasonic humidifiers have gained significant popularity among households due to their affordability and better energy-efficiency. These products provide both warm and cool mist. They are available in relatively smaller sizes as their humidifying mechanism is very simple. Manufacturers have been expanding their product portfolio to cater to rising demand. For instance, in February 2018, Xiaomi launched second generation of the SMARTMi humidifier that uses the evaporation principle with 240ml/h humidification efficiency. The built-in 36-evaporation vane arrays of SMARTMi enhance the efficiency of humidification.
Regional Insights of Household Humidifier Market
As of 2018, North America dominated the market, contributed to more than 40% of the global revenue. The increased consumer awareness about the ill effect of dry air or low humid climate and the presence of cold have raised the demand for the product in this region. The market in North America is highly dependent on the weather. Therefore, the sales of the product fluctuate significantly between cold and warm seasons. In addition, the presence of a large number of manufacturers coupled with product promotion by the regulatory bodies including ASHRAE (The American Society of Heating, Refrigerating and Air-Conditioning Engineers) and USEPA (The Environmental Protection Agency) attribute to the growth of the industry in this region. Similarly, Europe held a significant share of the market due to the increasing consumer awareness and the colder climate of the region.
Asia Pacific is expected to witness the fastest growth rate, growing at a CAGR of more than 6% from 2019 to 2025. Rising concern about personal health along with increasing purchasing power of the consumers is driving the market in this region. The dry winter season in countries, including China, Japan and South Korea, is anticipated to promote the utility of humidifier.
Market Share Insights of Household Humidifier Market
Key manufacturers include Jarden Corporation; Boneco AG (Air-O-Swiss); Aprilaire; Dyson Ltd; Crane USA; Honeywell International Inc.; Essick Air Products, Inc.; Hunter Home Comfort; Guardian Technologies; Venta Air Technologies, Inc.; and Stadler Form Aktiengesellschaft. The market is highly competitive in nature. The manufactures focus on low and mid-price point segment that accounts for the most sales. Majority of the consumers opt for low priced products.
The market is expected to witness product innovation in the upcoming years, as the manufacturers have been focusing on incorporation of new technologies to tap new markets. For instance, in October 2014, Dyson Ltd launched Air Multiplier Humidifier, which uses ultraviolet cleaning technology to clean bacteria from water.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Household Humidifier Market Research Report
This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global household humidifier market report based on product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2019 – 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ Household Humidifier Market Size, Global Market Research and Industry Forecast Report, 2019-2025 (Includes Business Impact of COVID-19)
Trusted Business Insights
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580