Dehumidifiers
are machines designed to remove extra moisture and retain the
preferred level of humidity in a given space. They are generally used
in basements, attic, and crawl spaces to get rid of moulds, damps,
and musty odors. In addition, dehumidifiers are also utilized for
health and comfort purposes in commercial and residential spaces.
Some of the critical uses of dehumidifiers are in life boats, pump
rooms, platform legs, painting and preservation industry, thruster
rooms, and pipe tunnels.The global dehumidifier market was worth
US$1927.1 million in 2013 and is anticipated to touch US$2966.6
million by the end of 2019, exhibiting a progressive 6.4% CAGR
between 2014 and 2020.
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The
global market for dehumidifiers has been segmented on the basis of
their applications into the categories of industrial, residential,
and commercial. The industrial sub-segment includes the construction
industry, the food and beverage industry, cold storage, and others
(manufacturing processes and pharmaceuticals). The construction
industry is the largest contributor to the dehumidifier market,
recording 37.7% of the total industrial application in terms of
revenue in 2013.
Nevertheless,
the cold storage segment is anticipated to record the highest growth
rate during the forecast period. The growth of the cold storage
segment is driven by rigid government regulations focusing on global
warming and reduction of food wastage throughout the supply chain,
cold storage, and food and beverage industry. In addition, commercial
users are also expected to drive this market in the long run as many
industries have realized the benefits of moisture control/prevention
that would help propel demand. This category includes users such as
schools, hospitals, cinemas, restaurants, and department stores.
Heat
Pumps Product Segment to Exhibit 6.5% CAGR from 2014 to 2020
Another
segmentation of the global dehumidifier market is done on the basis
of its types, which are desiccant dehumidifiers (chemical absorbent
dehumidifiers), refrigerant dehumidifiers (ventilating
dehumidifiers), and heat pumps.In 2013, desiccant dehumidifiers
(chemical absorbent dehumidifiers) led the global dehumidifier
market, thanks to demand mainly contributed by hotels, office
buildings, medical centers, restaurants, and the food and beverage
industry. On the other hand, heat pumps are anticipated to exhibit
substantial growth at a 6.5% CAGR between the years 2014 and 2020.
This rising growth is a result of a growing preference for
energy-efficient dehumidification solutions. In addition to it, rigid
government regulations are compelling the use of energy-efficient
products, which is boosting the market growth for heat pumps. These
heat pumps are expected to be more energy-efficient than other
dehumidifiers in the global market
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Asia
Pacific to Dominate Global Dehumidifiers Market in the Forecast
Period
The
global dehumidifier market has been geographically segmented into
four broad regional markets, which are Europe, Asia Pacific, North
America, and Rest of the World. In 2013, North America dominated the
market for dehumidifiers; moreover, the demand for dehumidifiers from
this region is anticipated to rise through the forecast period. The
dominance of North America is due to the increasing number of
restaurants and hotels. The rising numbers have resulted in increase
in demand for dehumidification solutions in the region. Nevertheless,
Asia Pacific is expected to exhibit the highest growth in the
forecast period in terms of revenue. This growth would be driven by
the tremendous use of dehumidifiers in the food industry,
construction, and cold storage.
Stiff
Competitive Vendor Landscape
The
global dehumidifier market is experiencing intense competition owing
to the high profits it bears. Some of the prominent players of the
market are De’Longhi Appliances S.r.I, Electrolux (Frigidaire),
Whirlpool Corporation, Honeywell International, Inc., Comfort Aire
(Heat Controller), LG Electronics Inc., Haier Group, Thermo-Stor LLC,
Sunpentown International, Inc., and General Filters, Inc. Many new
players are expected to enter the market in order to expand their
business horizon. Currently Honeywell International, Inc., has been
providing dehumidifiers integrated with HVAC systems.
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