LONDON, Jan. 12, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the dehumidifiers market, the rising number of chemical absorbent dehumidifiers has become widely attractive in the dehumidifier market. Drying substances, also known as desiccant materials, are used in chemical dehumidifiers to remove moisture from the air. They are commonly used in industries to achieve the necessary humidity levels in the environment. It is also one of the most efficient and environmentally-friendly options available. Chemical absorbent dehumidifiers have the advantage of being able to operate at extremely high or low temperatures without experiencing regeneration issues or changes in the life cycle.
For instance, in January 2020, Science Direct reported that chemical dehumidifier demand had increased due to recent advancements such as the fact that the energy required for the desiccant dehumidification process is about 30% less than for a conventional vapor compression system. This helps to reduce greenhouse gas emissions.
The global dehumidifier market size grew from $5.2 billion in 2020 to $5.25 billion in 2023 at a compound annual growth rate (CAGR) of 1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.3 billion in 2025 at a CAGR of 4.7%.
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The global dehumidifier industry is fairly fragmented, characterized by the presence of both local and global dehumidification systems providers. The top ten competitors in the market made up to 26.94% of the total market in 2020. The established market players are putting a strong emphasis on investing in new generation technologies to develop smart, energy-efficient dehumidifiers. The major players covered in the global dehumidifiers market are DeLonghi Appliances S.r.l, Electrolux, General Filters, Honeywell International, Whirlpool Corporation, Therma-Stor, LG Electronics, Sunpentown International, Haier, Munters Group, Seibu Giken DST AB, Deye, TCL.
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The dehumidifiers market is segmented by product type into chemical absorbent, heat pump, and ventilating dehumidifier; by application into commercial, industrial, and residential; by dehumidifier technology into cold condensation, sorption, warm condensation, and other technologies.
Developing Internet of Things (IoT) enabled dehumidifiers is key amongst the emerging dehumidifier market trends. The Internet of Things is a network of interconnected physical components that may be accessed over the internet for data collection and exchange. An IoT enabled dehumidifier can be controlled remotely via Wi-Fi or a mobile network.
As per TBRC’s dehumidifier market analysis, North America is the largest region in the dehumidifiers market, accounting for 34.8% of the total in 2023. It was followed by the Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the dehumidifiers market will be Asia Pacific and South America where growth will be at CAGRs of 8.4% and 6.8% respectively during 2023-2026. These will be followed by Western Europe and North America.
Dehumidifiers Market Global Report 2023: Market Size, Trends, And Global Forecast 2023 – 2026 is one of a series of new reports from The Business Research Company that provide dehumidifier market overviews, analyze and forecast market size and growth for the whole market, dehumidifier market segments and geographies, dehumidifier market trends, dehumidifier market drivers, dehumidifier market restraints, dehumidifier market leading competitors’ dehumidifier market revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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