Global Dehumidifier Market to Reach Us$2.97 Bn by 2020, Driven by Demand from Industrial and Commercial Sectors

The global dehumidifier market is projected to have a CAGR of 6.4% between the years 2014 and 2020. This market was valued at US$1.92 bn in 2013. The current rate of growth is expected to propel the market to US$2.96 bn by the end of 2020, which is stated in a market intelligence report released by Transparency Market Research. The report is titled, “Dehumidifier Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”.

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http://www.transparencymarketresearch.com/global-dehumidifier-market.html

According to the report, the global dehumidifier market is currently being driven by the large-scale adoption of dehumidifiers in the industrial and commercial sectors. The report also explains that regulatory pressure on industries is causing a spike in the demand for dehumidifiers, thereby allowing a major scope of growth for this market.

The global dehumidifier market is also being propelled by the booming construction industry. The heavy activity levels in the global construction industry, especially in developing economies of the Asia Pacific region, are creating a major increase in demand for dehumidifiers. The market is also expected to witness an increase in demand from previously untapped application segments such as power plants and military arms depots.

The report also includes discussions on the restraints that are affecting the global dehumidifier market. This includes an uncharacteristically large number of product recalls that have recently occurred. Multiple major manufacturers of dehumidifiers have called for product recalls owing to manufacturing defects and other technical issues.

One of the core categories of the global dehumidifier market, used by the report for segmentation purposes, is the application industries involved. The three main segments in this category are industrial, residential, and commercial applications. Of these, the industrial applications segment has led the...