Dehumidifier Market Forecasts to 2028 – Global Analysis By Product Type (Chemical Absorbent Dehumidifiers, Heat Pumps, Ventilating Dehumidifiers and Other Product Types), Application (Residential, Industrial, Commercial and Other Applications) and By Geog

Dehumidifier Market Forecasts to 2028 – Global Analysis By Product Type (Chemical Absorbent Dehumidifiers, Heat Pumps, Ventilating Dehumidifiers and Other Product Types), Application (Residential, Industrial, Commercial and Other Applications) and By Geography

According to Stratistics MRC, the Global Dehumidifiers Market is accounted for $3.16 billion in 2022 and is expected to reach $5.25 billion by 2028 growing at a CAGR of 8.8% during the forecast period. A dehumidifier removes moisture or water content from the air and helps in combating extreme temperatures. Growing health awareness and high humid coastal places are leading to the demand for such products. After captivating moisture, it also releases a stuffy odor from the surrounding caused by the fabrics, walls, and furniture. The device is used for the residential sectors comfort and health reasons.

According to the U.S. Department of Energy (DOE), a manufacturer of dehumidifiers is required to test the product to determine compliance with existing energy conservation standards. According to the Organization for Economic Co-operation and Development (OECD), the average household net adjusted disposable income per capita across OECD countries is $30,563 per year.

Market Dynamics:

Driver:

Increasing demand for wastewater treatment

Dehumidifier finds major application in the wastewater industry. High humidity levels can cause rust of metal, deterioration of paint, and breakdown of electrical components. A dehumidifier helps in controlling the humidity levels. Investment in new wastewater treatment infrastructure will create market demand. Water scarcity along with changing characteristics has led to augmented demand for wastewater management.

Restraint:

The alarming rush in fire happenings

Fire incidences have forced manufacturers to identify their effects because of mistaken dehumidification operating, which is always expensive. In the approaching years, customer development safety missions worldwide will minimize dehumidifier grade standards and certification rules. Additionally, contributing a useful guide or safety manual for the appropriate use of them can also lead to curbing the number of fire incidents caused due to humidifiers, ultimately reducing its impact on the dehumidifier’s market growth.

Opportunity:

Development in the Real Estate Sector

The development is increasing the new opportunities by rapid development in the real estate sector leading to the construction of residential buildings & schools, hospitals, and departmental stores. In extension, awareness of health and transformations in weather situations are the main elements anticipated to drive the demand. Furthermore, increased awareness about the usefulness of maintaining indoor air quality in commercial sectors is expected to promote market growth.

Threat:

High Cost of Maintenance

Dehumidifiers are normally a low maintenance consequence and do not need a lot of engaged interference, but some supervision is required. Cost of dehumidifiers is based on various factors such as capacity of selected product, outlet design, and difficulty in installation. Moreover, they need regular and continuous maintenance and cleaning, which incur additional cost, which limit their demand.

Covid-19 Impact

The corona virus spread over a number of nations and regions, having a profound effect on both individual lives and the community as a whole. It grew to be a serious threat to world trade, finance, and the economy. Due to the lockdown brought on by the COVID-19 epidemic, numerous parts for industrial dehumidifiers could no longer be produced. The slowdown in the economy first caused people to spend less on different industrial dehumidifiers. Additionally, a number of government efforts were aimed at fostering the development of small-scale companies, particularly in emerging countries, which are predicted to favourably impact the growth of the industrial dehumidifier market.

The chemical absorbent dehumidifier segment is expected to be the largest during the forecast period

The chemical absorbent dehumidifier segment is estimated to have a lucrative growth, due to it can work at very high or low-level temperatures without regeneration problems and changes in the life cycle. It uses drying substances to remove moisture from the air, these materials are also known as desiccant material. They are widely accepted among industries for bringing required humidity levels in the environment. It is also one of the fastest and environmentally friendly methods in the market.

The industrial segment is expected to have the highest CAGR during the forecast period

The industrial segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the growth in the manufacturing industry, warehousing, and water treatment plants. A dehumidifier is used in the industrial sector for various applications such as drying products, controlling relative humidity, and removing excess moisture. This, along with rapid industrialization and the escalating demand for energy efficient products, is strengthening the growth of the market.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the growth in industrial manufacturing owing to increasing investments. Moreover, rising product awareness, changing lifestyles, and increasing disposable income, increase in health awareness and stringent norms laid by the government in the region are the factors expected to boost the growth of the dehumidifier market.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the extensive industrial manufacturing, the strong establishment of commercial businesses, and growing awareness among the homeowners attributed to the large share. Increasing adoption of dehumidifiers in hotels and restaurants is expected to drive the region growth.

Key players in the market

Some of the key players profiled in the Dehumidifiers Market include Haier company, LG Electronics Inc., Honeywell International Inc., Whirlpool Corporation, Panasonic, Mitsubishi Electric, TCL, SEN Electric, Stulz GmbH, Deye, De’Longhi Appliances S.r.l., Sharp, CondAir Group, Munters Group, Frigidaire, General Filters, Eurgeen, Songjing, Danby Products Ltd. and Bry-Air Inc.

Key Developments:

In April 2020, LG announced the launching of PuriCare 50 Pint Dehumidifier with Drain Pump which was added to LG Electronics USA's award-winning lineup of energy-efficient domestic air care devices for simple daily usage. The product joins a lineup of room air conditioners and drains tank dehumidifiers that already offer unmatched energy savings thanks to LG's revolutionary Dual Inverter CompressorsTm technology.

In August 2019, Sharp launched two air purifiers and dehumidifiers named DW-J20FM-W and DW-E16FA-W, which are equipped with Ion Generator Technology that eliminates airborne mold, viruses, and bacteria. They are also capable of running on home investors.

Product Types Covered:
• Chemical Absorbent Dehumidifiers
• Heat Pumps
• Ventilating Dehumidifiers
• Other Product Types

Technologies Covered:
• Warm Condensation
• Sorption
• Other Technologies

Applications Covered:
• Residential
• Industrial
• Commercial
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements