$7.6bn
$XXX.Xm
27,062
404
$X.Xbn
The air purification equipment manufacturing industry has faced mounting volatility in recent years. Purifier sales largely depend on industrial production and construction activity. Revenue has flatlined, shrinking at a CAGR of 0.0% to $7.6 billion through the end of 2024, including an expected 0.9% hike in 2024 alone. Interest rates have threatened key construction and manufacturing markets, particularly discouraging new construction. This has squeezed profit, which depressed to an expected 4.7% of revenue in 2024, down from 5.2% in 2019.
Industry revenue has declined at a CAGR of 0.0 % over the past five years, to reach an estimated $7.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Honeywell International Inc. | 374.8 | 72.8 | 19.4 | |
Lennox International Inc. | 230.9 | 52.6 | 22.8 |
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Industry revenue is measured across several distinct product and services lines, including General air-purification products, Industrial air-purification products and Other. General air-purification products is the largest segment of the Air Purification Equipment Manufacturing in the US.
General air purification products cover a wide array of buyer needs
Establishments in this industry primarily manufacture stationary air purification equipment. These devices include industrial dust and fume collection equipment, electrostatic precipitation equipment, warm air furnace filters and air washers among other dust collection equipment.
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NAICS 33341 - Air Purification Equipment Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
COVID-19 has limited industrial production. The pandemic undermined demand for air purification equipment across multiple key markets, including manufacturing and commercial ...
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Industrial markets will rebound in the years to come. This market also faces shifting environmental regulations, leading to greater demand.
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Manufacturers concentrate near population centers and industrial hubs. The Southeast and the Great Lakes represent the two largest regions for companies.
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Barriers to entry are high. High start-up costs and brand recognition limit smaller manufacturers from competing with the larger, more established producers.
Learn about the performance of the top companies in the industry.
Market share concentration has increased over the past decade. The largest companies have recognizable brands that are known for their quality.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Manufacturers benefit from the strict guidelines for downstream manufacturers. The Clean Air Act and other air quality standards spur demand for air purification equipment.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Despite the rising needs of end markets, profitability has declined. Volatile input costs and climbing wage expenses have limited profit.
Including values and annual change:
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Key data sources in the US include:
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The market size of the Air Purification Equipment Manufacturing in the US industry in United States is $7.6bn in 2024.
There are 404 businesses in the Air Purification Equipment Manufacturing in the US industry in United States, which has grown at a CAGR of 0.1 % between 2019 and 2024.
The market size of the Air Purification Equipment Manufacturing in the US industry in United States has been declining at a CAGR of 0.0 % between 2019 and 2024.
Over the next five years, the Air Purification Equipment Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Air Purification Equipment Manufacturing market in United States are Honeywell International Inc. and Lennox International Inc.
Manufacturing High Efficiency Particulate Air (HEPA) filters and Manufacturing ionic filters are part of the Air Purification Equipment Manufacturing in the US industry.
The company holding the most market share in United States is Honeywell International Inc..
The level of competition is moderate and increasing in the Air Purification Equipment Manufacturing in the US industry in United States.