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North American Air Purification Equipment Market to Reach US$4.8 Billion by ...

24.11.11

San Jose, California (PRWEB) November 17, 2011 -- Follow us on LinkedIn - Air purification equipment is gradually transcending its popular perception of being considered as a luxury, non-essential product. Today, thanks to painstaking manufacturer efforts, air purifier equipments are evolving into a necessity, a crucial and critical element to be a part of every modern home. The growing clamor over the health risks posed by poor indoor air quality has played an instrumental role in giving these equipments a status of indispensability. Moreover, increase in consumer spending power and investments made in home improvement also contribute to the growing use of air purification equipment. Customer base for these products today spans residential consumers who purchase these equipments under medical prescription, to consumers seeking to improve the health of their indoor environment.

The 2007-2009 recession in retrospect, weakened the growth momentum in the North American Air Purification Equipment market. Recession induced economic and business pressures resulted in growth slowing down to single digit in the year 2009 as compared to the robust double digit growth recorded in the preceding year. Growth in the year 2009 shrank to an all time low of 3.7% largely as a result of the then depressed construction industry . Rise in unemployment, lower disposable incomes, reduction in household wealth, reduced consumer spending, depreciation in home values, high unsold home inventory, and decline in investments in new constructions and renovations all crippled the growth prospects.

Source: Environmental Expert (press release)