The global dehumidifier market is estimated to reach a valuation of US$ 4.23 Billion by the year 2023, as per the latest analysis of Future Market Insights. The market for dehumidifier has benefited from the increasing demand for dehumidifier in residential and industrial sectors to reduce the amount of indoor air pollutants. This is expected to grow the market with a moderate growth rate of 6.5% to reach an estimation of US$ 7.94 Billion by the end of 2033.
Attributes
Details
Market Size 2022A
US$ 3.97 Billion
Market Size 2023E
US$ 4.23 Billion
Market Size 2033F
US$ 7.94 Billion
Value CAGR between 2023 and 2033
6.5%
The dehumidifier is than 6 mm.
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Historic (2018 to 2022) Vs Forecast (2023 to 2033) Market Outlook for Global Dehumidifier
According to the FMI analysis, the global dehumidifier market witnessed a CAGR of 5.7% between 2018 and 2022. The market stands at US$ 4.23 Billion in 2023. Dehumidifiers are significantly used in manufacturing of automotive vehicle bodies, with increasing automotive production across the globe is likely to drive the demand for dehumidifier market. Rapid urbanization, growing population, coupled with increasing disposable income of individuals are some of the factors that have positive impact on the dehumidifier market.
The dehumidifier industry is anticipated to witness an increased CAGR of 6.5% between 2023 and 2033. The growing infrastructure development and construction of the commercial buildings and other civic infrastructure across the globe are expected to drive the demand for dehumidifier. Government initiatives and investments in construction activities is likely to fuel growth of the dehumidifier market.
Market Dynamics
The high emphasis on the prevention of bacteria and mould, which can pose health problems, is likely to drive market expansion throughout the forecast period.
Improving the quality and consistency of air inside homes is becoming a necessity, which was never identified as a need before, which is a key factor driving growth of the dehumidifiers market.
Manufacturers are beginning to introduce dehumidifiers that not only manage and control the humidity and act as a dehumidifier for house or industrial dehumidifier, but also reduce the amount of indoor air pollutants.
Consumers' concerns about their home climate contributing to their illness can be linked mostly to the increasing sales of dehumidifiers.
This is anticipated to motivate leading key players of dehumidifiers market to spend in research and development of new products to deliver more relevant, appropriate, and best features to residential customers in the future.
The alarming surge in fire incidents is impeding the dehumidifiers market growth.
Incidences have caused manufacturers to recall their products on account of faulty dehumidification malfunctioning, which is always a costly affair.
In the coming years, customer product safety commissions across the world are likely to tighten the quality standards and certification rules for dehumidifiers.
Manufacturers will have to pay special attention to quality and safety parameters of their products. Companies offering a proper guide or safety manual for the appropriate use of dehumidifiers can also lead to curbing the number of fire incidents caused due to humidifiers, ultimately reducing its impact on the dehumidifiers market growth.
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Segment-wise Analysis
Which segment dominates the industry by type?
“By Type, Heat Pumps segment dominate the dehumidifiers market”
The heat pumps segment is anticipated to dominate the global market in 2023 and is expected to continue this dominance during the forecast period. Heat pump dehumidifiers are becoming more and more popular as a means of enhancing indoor air quality and to store goods and commodities.
Which application is predominant in the dehumidifiers market?
“Industrial segment holds a substantial share of the dehumidifiers market”
Based on the application, the industrial segment of dehumidifier accounts for significant share in terms of revenue in the target market. Dehumidifiers are used for several purposes, including drying products, regulating relative humidity, and removing surplus moisture. The expansion of the manufacturing sector, warehouses, and water treatment facilities will drive growth of the segment in the near future.
Region-wise Analysis
Which region is leading the industry by consumption?
“North America to hold a significant regional share of the product market”
The commercial segment is anticipated to expand significantly in the North America region. The dehumidifiers market in the United States is predicted to grow significantly, since consumers in the United States demand products with automatic temperature and humidity detecting capabilities.
Increasing activities in construction industry, coupled with increasing government spending on private and public infrastructure projects, and rapid industrial and manufacturing sector development in many developing countries are some of the factors expected to proliferate growth of dehumidifiers market in the region.
How are North America and Europe performing in the global dehumidifier market?
“Increasing demand for dehumidifier in the commercial and industrial sectors to create lucrative opportunities for the market”
Europe is predicted to experience significant growth in the dehumidifier industry, owing to the importance of indoor air quality and rising health consciousness across the region. The demand for dehumidifiers is anticipated to be driven by the expansion of industrial manufacturing as a result of rising investments and new product launches in the regions throughout the forecast period.
Dehumidifiers are witnessing high demand in the rapidly growing residential sector in developing countries of Asia Pacific. Thereby, manufacturers will increasingly focus on modifying features of their product range to meet the target customers’ needs such as portable & small dehumidifier across different regions, and this will emerge as a popular trend in the dehumidifiers market, in the coming years.
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Market Competition
The dehumidifier market is observed to be fairly fragmented globally due to the presence of numerous local and regional players. Leading manufacturers as well as small and medium sized enterprises have adopted strategies to compete on the product innovation front, with the launch of dehumidifiers with advanced technologies and innovative features.
For instance, De Longhi America, Inc. — a leading distributor of kitchen and home appliances — and Braun Household — a German premium brand for electrical appliances — announced in May 2020 the launch of its home and kitchen comfort product lines to offer customers more convenient and innovative products and aid consumers in navigating the new normal at home. The announcements also emphasized the improved efficiencies of the new De’Longhi 3-in-1 Portable Air Conditioner, Dehumidifier, and Fan, which is quieter, smarter, and more personalized than its other products.
A few of the key participants present in the global demand of the dehumidifier market include Electrolux (Frigidaire), General Filters, Inc., Whirlpool Corporation, LG Electronics Inc., Haier Group, Honeywell International, Inc., Sunpentown International, Inc., Therma-Stor LLC, De’Longhi Appliances S.r.I., Keystone, Panasonic Corporation, and among others.
Scope of the Report
Attribute
Details
Growth Rate
CAGR of 6.5% between 2023 and 2033
Base Year for Estimation
2023
Historical Data
2018 to 2022
Forecast Period
2023 to 2033
Quantitative Units
Revenue in USD Billion, Volume in Tons, and CAGR between 2023 and 2033
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Drivers, Restraints, Opportunities, Trends, and Pricing Analysis
Segments Covered
Type
Technology
Application
Region
Regions Covered
North America
United States of America
Canada
Latin America
Brazil
Mexico
Argentina
Rest of Latin America
East Asia
South Korea
China
Japan
South Asia and Pacific
India
Association of Southeast Asian Nations
Australia and New Zealand
Rest of South Asia and Pacific
Western Europe
Germany
France
Spain
Italy
BENELUX
NORDICS
United Kingdom
Rest of Western Europe
Eastern Europe
Poland
Hungary
Romania
Czech Republic
Rest of Eastern Europe
Central Asia
Russia and Belarus
Balkan and Baltic Countries
Middle East and Africa
Kingdom of Saudi Arabia
The United Arab Emirates
Türkiye
Northern Africa
South Africa
Israel
Rest of Middle East and Africa
Key Companies Profiled
Electrolux (Frigidaire)
General Filters, Inc.
Whirlpool Corporation
LG Electronics Inc.
Haier Group
Honeywell International, Inc.
Sunpentown International, Inc.
Therma-Stor LLC
De’Longhi Appliances S.r.I.
Keystone
Panasonic Corporation
Others
Customization & Pricing
Available upon Request
Key Segments Profiled in the Dehumidifier Market Report Dehumidifier Market
