According to a new report published by Allied Market Research, titled, “Europe Dehumidifier Market by Type and Application: Opportunity Analysis and Industry Forecast, 2020–2027,”
The Europe dehumidifier market size was valued at $212.2 million in 2019, and is expected to reach $372.15 million by 2027, registering a CAGR of 8.9% during the forecast period. The refrigerant type dehumidifier dominated the market in 2019, owing to rise in consumer inclination toward maintaining a healthy environment in commercial, industrial, and residential buildings.
Dehumidifier is a utility device used for the removal of humidity/moisture and to control air quality. Ongoing development of the real estate sector, changes in weather conditions, rise in disposable income, and increase in awareness among consumers toward healthy & comfortable living drive the market.
However, high cost and seasonal demand of the product restrict the Europe dehumidifier market growth. Cost of dehumidifiers is based on various factors such as capacity of selected product, outlet design, and difficulty in installation. Moreover, they need regular and continuous maintenance and cleaning, which incur additional cost, which limit their demand in Europe.
Conversely, dehumidifiers are being used in cold storage as well as food & beverages sectors, owing to the fact that they facilitate retaining of appropriate temperature to ensure prolonged shelf life for food as well as inventory. In addition, dehumidifiers are being utilized in hotels and restaurants to maintain the quality, flavor, and taste of food products. Thus, all these factors collectively are expected to offer remunerative Europe dehumidifier market opportunities for the expansion of the market during the forecast period.
According to the Europe dehumidifier market analysis, the market is segmented into type, application, and country. On the basis of type, the market is bifurcated into refrigerant type dehumidifier and chemical absorbent dehumidifier. Depending on application, it is categorized into industrial, commercial and residential. By country, it is analyzed across Germany, France, Spain, the UK, Italy, and rest of Europe.
Increase in demand for dehumidifiers in Germany is attributed to rise in consciousness of consumers toward health and wellness. Consumers are actively concerned to maintain a healthy living environment at home, which boosts the need for dehumidifier to improve the indoor air quality. In addition, residential dehumidifiers are gaining traction in the market, owing to rise in susceptibility to develop allergies among adults & infants.
The demand for residential dehumidifier is influenced by rise in trend of sustainable energy framework in Europe, as consumers actively seek for energy-efficient products. Moreover, ongoing smart housing developments drives the demand for energy-efficient residential dehumidifiers.
Key players in the Europe dehumidifier market are consistently introducing new products in the market. In addition, they are involved in investing immensely in R&D activities for development of energy-efficient and economical product range. For instance, in May 2018, Munters, a Sweden-based leader in energy-efficient air treatment and climate solutions, introduced the Climatix technology for air treatment. It is a cloud-based technology with an integrated gateway device. It enables GMS-based connection of dehumidifiers with Climatix control. Application of the system facilitates humidity control remotely. In addition, it provides provision of analyzing previous data of the equipment. Furthermore, the key players, including DeLonghi Appliances S.r.l. focus on offering a small segment of premium products with high quality, functionality, and convenience standards.
Key findings of the study
- The Europe dehumidifier market expected to reach $372.15 million by 2027, registering a CAGR of 8.9% during the forecast period.
- Based on type, refrigerant type segment helds the major Europe dehumidifier market share in the in 2019.
- Based on application, the other industrial held the highest share in the Europe dehumidifier market in 2019.
- UK held the highest share in the Europe dehumidifier industry.