SAN ANTONIO, Jan. 21, 2015 (GLOBE NEWSWIRE) -- The global residential air treatment systems market was valued at over $3.0 billion in 2013. The market is expected to see a double-digit growth rate throughout the forecast period, according to a report by Verify Markets. (http://www.verifymarkets.com/products/2014-residential-air-treatment-systems-market-global)
In 2013, China was the largest market, followed by Japan and the U.S. Poor indoor quality and rising awareness about poor air quality are the key drivers in most countries globally. The markets vary by countries and regions.
The U.S. market is matured and is not expected to witness any drastic change in technology in the near future. The market in Asia Pacific is expected to see high growth rates. There is an influx on low end products in the United States and consumers are very price sensitive. Most of the mass retailers carry products priced between $20 up to $200. There is less advertising in the air treatment systems market and an uncertainty among consumers about what an air purifier actually does.
High end air treatments systems are gaining popularity in China. Due to rising pollution levels, Chinese consumers are increasingly becoming less-price sensitive and more brand-conscious. Consumers are on the lookout for multifunctional products, or combination of technologies, in Asia Pacific. For example, air purifiers and humidifiers in one unit.
There is an influx on low end products in India. Consumers in India are very price sensitive. However, several international brands with high price points are entering the market as well.
For purposes of this research, Verify Markets selected 10 key countries. These 10 countries make up more than 85 percent of the global market. The countries included in this research are: China, India, Japan, Malaysia, Russia, South Korea, Taiwan, Thailand, Ukraine and United States.
The study is very detailed. The base year for the research is 2013; forecasts are provided until 2020. The study captures market drivers, restraints, market share analysis, revenue forecasts, pricing trends and key trends specific by country. The key companies included in this research are Sharp Corporation, Panasonic Corporation, Koninklijke Philips Electronics NV, Kaz Inc., Jarden Corporation, Daikin Industries, Blueair, Beijing Yadu Science &Technology Co., Ltd, and Hitachi, Ltd., among others. The market research report can be obtained at www.verifymarkets.com. Follow us for more updates on Twitter @verify_markets.
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Source: Verify Markets