Global Dehumidifier Market was valued US$ 3.2 Bn in 2017 and is expected to reach US$ 5.5 Bn by 2026, at a CAGR of 7.3% during a forecast period.
Global Dehumidifier Market
The global dehumidifier market based on product, technology, application, and region. In terms of product, the global dehumidifier market is classified into ventilating, heat pump, and chemical absorbent. Based on technology, the global dehumidifier market is categorized into sorption and warm condensation. On the basis of application, the global dehumidifier market is segregated into residential, commercial, and industrial. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Increasing demand for dehumidifiers in hotels, restaurants, and cold storages to minimize food wastage caused due to humid air is anticipated to drive the market. Rising construction activities, changing climate conditions, and rising disposable income levels of consumers are expected to propel market growth over the forecast period. Moreover, rise in awareness towards health and changes in weather conditions are the major factors anticipated to drive the demand for dehumidifiers. However, high product cost is expected to restrict market growth over the forecast period. Cost of dehumidifiers is based on various factors such as capacity of selected product, outlet design, and difficulty in installation. Furthermore, they need regular and continuous cleaning and maintenance, which involves additional cost. Improved standard of living and rise in disposable income of consumers are anticipated to provide lucrative opportunities for market.
On the basis of product, the heat pump segment is estimated to witness significant growth owing to advantages offered by these machines, such as low energy consumption, high performance, and eco-friendliness. Recent developments in heat pumps include incorporation of advanced cycle designs with heat driven ejectors that develop efficiency of these devices.
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Based on application, rising infrastructure activities in commercial sectors, such as hospitals, schools, and departmental stores, are expected to fuel the commercial segment over the forecast period. Moreover, development of portable and energy-efficient dehumidifiers is anticipated to increase product demand for residential and commercial applications.
In terms of region, North America dominated the market in terms of revenue in 2017 followed by Asia Pacific. America and Europe are estimated to have rising demand for dehumidification solution in global dehumidifiers market, which is expected to grow in subsequent years due to having more number of restaurants, hotels, cold storages and food industries.
Some of the key players in the global dehumidifier market are Sunpentown International Inc., Thermostor LLC, Haier group, Honeywell group, Keystone, EBAC, Frigidaire, TCL, Tosot, and Panasonic.
The Scope of the Global Dehumidifier Market
Global Dehumidifier Market by Product
• Heat Pump
• Chemical Absorbent
Global Dehumidifier Market by Technology
• Warm Condensation
Global Dehumidifier Market by Application
Global Dehumidifier Market by Geography
• North America
• Middle East & Africa
• Latin America
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Key Players operating in the Global Dehumidifier Market
• Sunpentown International Inc.
• Thermostor LLC
• Haier group
• Honeywell group
• De’Longhi Appliances S.r.I
• General Filters, Inc.
• Honeywell International, Inc.
• Seibu Giken DST AB