Albany, NY, Jan. 19, 2016 (GLOBE NEWSWIRE) -- According to a recent market research report released by Transparency Market Research, the global dehumidifier market is expected to be valued at US$2.97 billion by 2020. The report, estimates the size of the dehumidifier market worldwide, which was worth US$1.93 billion in 2013. Increased adoption of dehumidifiers in commercial and industrial sectors is expected to boost the overall market in the near future.The report points out that various environmental regulations will push the demand for dehumidifiers in various industries.
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Dehumidifiers find critical application in pump rooms, platform legs, life boats, pipe tunnels, thruster rooms, and painting and preservation industries to remove moisture and decrease humidity in the air. Increasing construction activities will also propel the market. However, the report points out that excessive product recalls by manufacturers owing to technical issues has negatively impacted consumers’ confidence in the industry. The report further mentions that the dehumidifier market has a huge opportunity to grow in untapped sectors such as power plants and military arms depots. Coastal regions of Asia pacific and Rest of the World will also contribute to the increase in demand for humidifiers in the near future.
The report compiles some of the latest trends in the global dehumidifier market, such as the use of liquid desiccants and integration of multiple technologies. Dehumidifiers are being integrated with existing HVAC equipment. Increasing usage of membrane technology in the dehumidification process has also been observed recently. By product type, the global dehumidification market has been segmented into ventilating dehumidifiers (refrigerant dehumidifiers), chemical absorbent dehumidifiers (desiccant dehumidifiers), and heat pumps. The report points out that in 2013, desiccant dehumidifiers were the largest product segment in the market due to increasing demand from office buildings, restaurants, medical centers, and the food and beverages industry. During the forecast horizon, heat pumps are expected to grow at a CAGR of 6.5%.
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The end-use application segments of the global dehumidifier market have been categorized into commercial applications, residential applications, and industrial applications. Industrial applications are further divided into cold storage, the construction industry, the food and beverages industry, and others including pharmaceuticals and manufacturing. The report mentions that the construction industry is widely using dehumidifiers to dry slabs and plasters and prevent mold growth.
Demand for dehumidifiers from the food and beverages industry and cold storage is also expected to contribute significantly to the growth of the global dehumidifier market.Globally, the dehumidifiers market has been divided into four key regions: Asia Pacific, North America, Europe, and Rest of the World. In 2013, North America was the largest market for dehumidifiers and demand from the region is expected to increase further during the forecast horizon. Asia Pacific is expected to witness the highest growth in terms of revenue owing to increasing demand for application in cold storage and construction.Some of the key players in the global dehumidifier market are Honeywell International, Whirlpool Corporation, and LG Electronics Inc.
The dehumidifier market has been segmented as below:
Dehumidifier Market, by Type
- Heat pumps
- Ventilating Dehumidifiers (Refrigerant Dehumidifiers)
- Chemical Absorbent Dehumidifiers (Desiccant Dehumidifiers)
Dehumidifier Market, by Application
- Food and Beverage Industry
- Cold Storage
- Construction Industry
- Others (Pharmaceuticals and Manufacturing Processes)
Dehumidifier Market, by Geography
- North America
- Asia Pacific
- Rest of the World (RoW)
Other Reports Published By Transparency Market Research:
Global Hand Dryer Market
Freeze Drying Equipment Market
Electronic Recycling Market
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research