Growth Drivers
Growing Industrialization and Urbanization across the World with Increasing Economic Standards –
Industries such as wood, plastic, and metal manufacturing units generate huge amounts of particles that are not visible to the naked eye but when inhaled leads to many complications. In developed countries rising occupational respiratory tract illnesses in the mining sector around the world are also expected to boost market expansion over the forecast period.
As per the predictions made in 2020, more than 60% of people across the world are estimated to live in developed countries by the end of 2050.
Stringent Regulation Regarding Emissions to Reduce Environmental Pollution around the Globe – The United States Environmental Protection Agency declared new standards in 2023 for passenger cars and light trucks on greenhouse gas emissions.
Rising Health Issues of the Respiratory Tract with Inhalation of Pollutant Air – As of Pan American Health Organization in 2019, more than 534,000 people died of chronic respiratory diseases in the U.S.
Increasing Air Pollution with the Use of Automobiles across the World – As of 2021, the pollution released in the atmosphere of the United States was estimated to be more than 65 million tons.
Escalating Mining Works and Extraction of Minerals and Metals from Ores – The global value of mining works in 2020 was estimated to be more than USD 1640 billion and reached USD 1840 billion by the end of 2021.
Challenges
High Ozone Emissions via Air Filters –
The air filters work by consuming ionizers and electrostatic precipitators or any other devices which are estimated to release ozone. This is estimated to be harmful as it is absorbed physically and inhaled as gases in the human body.
High Cost Associated with Air Filters
Lack of Awareness of Risks Caused by Dust particulates
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
6.8% |
Base Year Market Size (2023) |
USD 429.34 Million |
Forecast Year Market Size (2036) |
USD 1 Billion |
Regional Scope |
|
Author Credits: Richa Gupta
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