Market Size of Dehumidifier Industry
| Study Period | 2020-2029 |
| Market Size (2024) | USD 3.23 Billion |
| Market Size (2029) | USD 5.60 Billion |
| CAGR (2024 - 2029) | > 5.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Dehumidifier Market Analysis
The Dehumidifier Market size is estimated at USD 3.23 billion in 2024, and is expected to reach USD 5.60 billion by 2029, growing at a CAGR of greater than 5.30% during the forecast period (2024-2029).
Dehumidifiers are in high demand in the market because people are becoming more aware of the health risks of high humidity, especially in coastal regions during the summer months. People are becoming more aware that high humidity can lead to mold growth, allergies, and respiratory problems. People want to maintain good indoor air quality, and dehumidifiers are a great way to do that. Therefore, the market is likely to grow in the coming years.
Revenue growth in the market is mainly due to the growing use of household Dehumidifiers to regulate humidity levels and inhibit bacterial growth. North America is expected to have the biggest revenue share over the forecast period, mainly due to the region's growing spending on warehouse, residential, and commercial construction. U.S. spending on private construction skyrocketed since 2020. Demand for dehumidifiers is growing as construction activity increases, which in turn is driving market revenue growth.
The demand for this product is also due to the fact that extreme weather events are on the rise. Climate change means that more and more extreme weather is happening, like heavy rain and flooding. This can cause a lot of moisture and humidity in your home, so you want to make sure your home is as dry as possible. Dehumidifiers are a great way to keep humidity down, stop mold from growing, and protect your home. So, this is what's driving the demand for this product over the next few years.
Companies are delaying investments due to concerns about inflation and declining demand, which will result in lower capital expenditure in the near future. The developed markets appear ready for a recession due to their slower growth and higher inflation. Fears of further COVID-19 outbreaks combined with China's already precarious post-pandemic trajectory made it possible that the globe could face more severe manufacturing interruptions and supply chain problems that year. The intricacy of the problems encountered was exacerbated by unstable financial markets, escalating trade disputes, a more stringent regulatory framework, and a demand to include climate change in economic decisions.
