Dehumidifier Market Expected to Reach $4.7 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Dehumidifier Market," The dehumidifier market was valued at $2.5 billion in 2022, and is estimated to reach $4.7 billion by 2032, growing at a CAGR of 6.6% from 2023 to 2032.

A dehumidifier is a type of home equipment used to regulate and lower the relative humidity in enclosed areas. It functions by eliminating surplus moisture from the atmosphere, assisting in the preservation of a cozy and salubrious living space. In places where there are problems with moisture or high humidity, dehumidifiers are frequently employed. It achieves this by absorbing or condensing water vapor, which is subsequently collected in a detachable tank or drained directly. Other ways include refrigeration and desiccant technologies. Moreover, dehumidifiers provide several advantages which include the ability to stop moisture damage to property and the growth of mold and mildew. Dehumidifiers come in a variety of shapes & sizes and are equipped with features such as smart technology and humidity levels that can be adjusted. 

The Dehumidifier Market Size is analyzed on the basis of product, application, distribution channel, and region.  On the basis of product, it is categorized into portable and fixed. Among these, the fixed segment occupied the major share of the market in 2022 and is anticipated to maintain its dominance during the forecast period. HVAC (heating, ventilation, and air conditioning) systems are designed to control the relative humidity in a house or place of business, which includes fixed dehumidifiers. These dehumidifiers are permanently installed & integrated into the building's HVAC system or ductwork. Furthermore, as fixed dehumidifiers are increasingly being integrated with smart home systems, users can now remotely control & monitor humidity levels using smartphone apps. Permanent dehumidifiers are becoming more necessary as a result of expanding health & comfort concerns, the rise of commercial applications, the building sector, and retrofit projects. Additional opportunities include joint ventures with HVAC and building automation firms, international business expansion, technology breakthroughs, public awareness and education campaigns, and customization to address specific humidity control requirements across a variety of industries. 

On the basis of application, the market is divided into residential, commercial, and industrial. Among these, the industrial segment occupied the major share of the market in 2022 and is anticipated to maintain its dominance during the forecast period. In industrial applications, where complex & challenging conditions are often encountered, high-capacity dehumidifiers are essential. Dehumidifiers are used in industrial settings to control humidity levels. The instances of these settings include manufacturing plants, food processing facilities, pharmaceutical & biotechnology facilities, cold storage & warehouses, aerospace & aviation industries, petrochemical & refinery industries, textile & paper mills, water treatment plants, and museums. In the industrial sector, dehumidifiers are used for a number of tasks, including moisture removal, controlling relative humidity, and product drying. Rise of the manufacturing sector, warehouses, and water treatment facilities have been the main drivers of segment growth. Moreover, according to Dehumidifier Market Trends the Dehumidifier Market Demand for a safer & healthier work environment has led to rise in the usage of industrial dehumidifiers. 

On the basis of distribution channel, it is bifurcated into online and offline. Among these, the offline segment occupied the major Dehumidifier Market Share of the market in 2022 and is anticipated to maintain its dominance during the forecast period. The ability to examine products in person and receive personalized advice from experienced salespeople is what makes physical retail establishments appealing. Immediate satisfaction and after-sales services have further increased customer satisfaction and trust. Participating in trade shows and local marketing campaigns has enabled direct communication with communities and prospective clients. Growth prospects have been generated by campaigns for product bundling, consumer education, and geographic market development. In addition, collaborations with HVAC contractors and a focus on sustainability have increased sales and drawn in environmentally conscious customers. To capitalize on these trends and opportunities, businesses may consider enhancing their in-store displays, training employees to be product experts, and actively engaging in local marketing initiatives. 

On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.  Among these, the North America segment occupied the major share of the market in 2022 and is anticipated to maintain its dominance during the forecast period. North America's electrical appliance market is well-established, consistent, and experiencing rapid product penetration. Replaceable products account for the majority of the dehumidifier market. Large homes can accommodate a variety of home appliances, including enormous dehumidifiers. Presence of local & foreign firms in the market is highly considerable. Companies such as Whirlpool, Haier, and LG Electronics are the leading companies operating in this sector. The recovery & expansion of the residential & industrial sectors are anticipated to present opportunities for the dehumidifier industry in the near future. 

The outbreak of the pandemic has disrupted the consumer electronics industry, thus affecting the Dehumidifier Market Growth This was characterized by the strict restriction of the lockdown. Pandemic has led to changes in consumer behavior and as a result many people are interested in staying at home. According to Dehumidifier Market Analysis, these changes in consumer behavior have had both positive and negative impacts on the dehumidifier market. The major players analyzed in the dehumidifier industry include LG Electronics Inc., Honeywell International Inc., Haier company, De’Longhi Appliances S.r.l., Whirlpool Corporation, Munters Group, CondAir Group, Bry-Air Inc., Stulz GmbH, and Danby Products Ltd. 

KEY FINDINGS OF STUDY   

• On the basis of product, the fixed segment held the major share in 2022. However, the portable segment is observed as the fastest-growing segment in the dehumidifier market.  

• By application, the industrial segment held the major share in 2022. However, the commercial segment is observed as the fastest-growing segment in the dehumidifier market.  

• As per distribution channel, the offline segment held the major share in 2022. However, the online segment is observed as the fastest-growing segment in the dehumidifier market.  

• Depending on region, North America held the major share in 2022. However, the Asia-Pacific segment is observed as the fastest-growing segment in the dehumidifier market.