The global portable humidifiers market is currently witnessing supply chain woes, credit the covid-19 impact. However, the impact is minimal with only few disruptions in supply chain noted. Therefore, it is significant to mention here that while sales will plummet, these will dip only in the first three quarters of the year, after which recovery is anticipated. Here, partial easing of lockdowns, which are already being noted in a number of regions, will play a crucial role.
In terms of projected growth for the global portable humidifiers market, Fact.MR notes that a rate of 4% will be recorded from 2020 to 2030. It also states that commercial applications will own a sizeable share of the market over this period with portable humidifier water bottles witnessing an upward facing demand curve. Besides, owing to COVID-19, expenditure on portable humidifiers by corporate offices, clinics and hospitals, and educational institutions is being seen and it will contribute to the growth in this market in a big way.
North America and Europe – Regional Dominance Explained
Infection rate of Coronavirus and fatalities brought about by it are soaring in North America and Europe. One of the most significant reasons behind it is that percentage of older people – aged 60 and above is quite high in the two regions. This is leading to a high demand for portable humidifiers, which is supported by high disposable incomes in the regions which are considered developed globally. Presence of prominent players here would also be an important factor of growth. Additionally, it is worth noting here that in the North American region, standardization of air quality by ASHRAE is also contributing to this growth.
Asia Pacific (APAC) is set to witness notable growth over the period stated above owing to growing awareness and increasing disposable income – a logical outcome of strong growth statistics demonstrated by robust economic growth. Besides, it is quite significant to note here that as established players foray into these markets, growth curve would take a steeper trajectory. Some of the end-use industries in Asia Pacific that are generating significant demand for these are healthcare and textile.
Sizeable Revenue Share of the Market Held by Top Players – Consolidation to Grow
So far, the global portable humidifiers market is fragmented with a decent number of players operating the market playfield. However, one-third of the revenue is held by top few players. And, over the forecast period, the share would only grow further, bringing about a higher degree of consolidation in the market.
Key players who are considered prominent and are contributing towards improving the growth curve of this market are Honeywell International Inc., Newell Brands, Procter & Gamble Co., BONECO, Condair Group AG, CAREL INDUSTRIES S.p.A., Dyson Ltd, Humidifirst, Inc., Crane USA, De’Longhi Appliances S.r.l, Heaven Fresh USA Inc., and UCAN CO., LTD, among others.
A number of strategies such as mergers and acquisitions for better market penetration and product development via innovation for higher revenue share are being noted in the market landscape. Usually, it is observed that a mix of organic and inorganic strategies is used by most active players.
It is worth noting here that in 2018, Xiomi launched Smartmi humidifier that operates with ultrasonic emitting capability. What it means is that steam is produced by the product using the process of nebulization, a result of which is that the white powdery remains often noted in other products is absent here.