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4 Stocks to Watch as Pandemic Drives Air Purifier Sales
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The COVID-19 pandemic has left several industries bleeding, while some have been its biggest beneficiaries on rising demand for certain products. Besides the tech sector gaining on people doing everything — from working and learning to shopping — from home, personal protective equipment like face masks, gloves, hand sanitizers and air purifiers have become indispensable in our lives over the past year.
Air purifiers too have been high on demand, following the COVID-19 outbreak and have seen a surge in sales.
Air Purifier Sales Grow Amid Pandemic
Air pollution is responsible for nearly 6.5 million deaths every year, making it the world’s fourth-largest threat to human health, according to a 2016 report by the International Energy Agency. The threat has only grown since then, with the past year becoming an exception.
Air purifiers can, to a large extent, help people who are suffering from asthma, airborne allergies and other breathing disorders. And since COVID-19 is airborne, air purifiers have seen a surge in residential and commercial demand as a preventive measure.
According to a new report by Verify Markets published in Global News Wire, the global portable air purifier market grew 57% in 2020 and is expected to witness further growth over the next two years or till a vaccine gets complete control over the virus. The air purifier market was already valued at $1 billion in the United States in 2020 and is likely to grow further.
The report further says that one of the biggest drivers of the growth has been the COVID-19 pandemic followed by cross-state pollution, natural disasters, and consumer education programs. Moreover, products that were priced below $150 saw the highest demand in 2020. Products that covered 301-400 square feet accounted for the maximum sales last year.
Air Purifier Market Poised to Grow
COVID-19 is transmitted from an infected to a healthy person through respiratory droplets and contact routes. According to the United States Environmental Protection Agency, air purifiers can reduce airborne contaminants, which consist of viruses in any confined space. However, air purifiers still need to be used along with the other practices recommended by the Centers for Disease Control and Prevention for an ideal plan to protect oneself against the disease.
Given that even maintaining a six feet distance does not promise complete safety from being contracted by the virus, the use of air purifiers becomes all the more important.
Per a Market Insights report, the air purifier market is projected to witness a CAGR of 10.8% to almost $2,350.8 million by 2023 and reach $2,886.0 million by 2025, and $4,819.4 million by 2030.
The report further states that the residential market was the largest and fastest-growing segment of the air purifiers market, which accounted for 73% of the market or $1,143.0 million in 2019 and is continuing to grow following the pandemic.
Stocks to Watch
Given that the pandemic is far from over and people will continue to try and keep themselves safe, air purifiers are becoming a necessity. It would thus be prudent to invest in these four stocks.
Koninklijke Philips N.V. (PHG - Free Report) operates as a health technology company worldwide. The company manufactures smart air purifiers and humidifiers. The products come with HEPA filters for increased protection.
The company’s expected earnings growth rate for the current year is 12.8%. The Zacks Consensus Estimate for current-year earnings has improved 8.5% over the past 60 days. The company has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Whirlpool Corporation (WHR - Free Report) is one of the largest manufacturers of home appliances in the world. Besides, it also produces hermetic compressors for refrigeration systems and offers quality air purification solutions. According to Whirlpool, the company’s HEPA purifiers are capable of removing as much as 99.97% of particles from air.
The company’s expected earnings growth rate for next year is 8.5%. The Zacks Consensus Estimate for current-year earnings has improved 4.1% over the past 60 days. Whirlpool has a Zacks Rank #3 (Hold).
Carrier Global Corp. (CARR - Free Report) is a provider of heating, ventilating and air conditioning, refrigeration, fire, security and building automation technologies. Following the COVID-19 outbreak, the company has launched a wide range of air purifiers for residential units, schools and single apartments.
The company’s expected earnings growth rate for next year is 15.7%. The Zacks Consensus Estimate for current-year earnings has improved 1.6% over the past 60 days. Carrier Global has a Zacks Rank #3.
Johnson Controls International plc (JCI - Free Report) offers a wide range of filtration products. From residential and commercial buildings, to clean-room environments, the company is committed to offering best-in-class, reliable filtration products every time.
The company’s expected earnings growth rate for the current year is 12.5%. The Zacks Consensus Estimate for current-year earnings has improved 2.4% over the past 60 days. Johnson Controls has a Zacks Rank #3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
4 Stocks to Watch as Pandemic Drives Air Purifier Sales
The COVID-19 pandemic has left several industries bleeding, while some have been its biggest beneficiaries on rising demand for certain products. Besides the tech sector gaining on people doing everything — from working and learning to shopping — from home, personal protective equipment like face masks, gloves, hand sanitizers and air purifiers have become indispensable in our lives over the past year.
Air purifiers too have been high on demand, following the COVID-19 outbreak and have seen a surge in sales.
Air Purifier Sales Grow Amid Pandemic
Air pollution is responsible for nearly 6.5 million deaths every year, making it the world’s fourth-largest threat to human health, according to a 2016 report by the International Energy Agency. The threat has only grown since then, with the past year becoming an exception.
Air purifiers can, to a large extent, help people who are suffering from asthma, airborne allergies and other breathing disorders. And since COVID-19 is airborne, air purifiers have seen a surge in residential and commercial demand as a preventive measure.
According to a new report by Verify Markets published in Global News Wire, the global portable air purifier market grew 57% in 2020 and is expected to witness further growth over the next two years or till a vaccine gets complete control over the virus. The air purifier market was already valued at $1 billion in the United States in 2020 and is likely to grow further.
The report further says that one of the biggest drivers of the growth has been the COVID-19 pandemic followed by cross-state pollution, natural disasters, and consumer education programs. Moreover, products that were priced below $150 saw the highest demand in 2020. Products that covered 301-400 square feet accounted for the maximum sales last year.
Air Purifier Market Poised to Grow
COVID-19 is transmitted from an infected to a healthy person through respiratory droplets and contact routes. According to the United States Environmental Protection Agency, air purifiers can reduce airborne contaminants, which consist of viruses in any confined space. However, air purifiers still need to be used along with the other practices recommended by the Centers for Disease Control and Prevention for an ideal plan to protect oneself against the disease.
Given that even maintaining a six feet distance does not promise complete safety from being contracted by the virus, the use of air purifiers becomes all the more important.
Per a Market Insights report, the air purifier market is projected to witness a CAGR of 10.8% to almost $2,350.8 million by 2023 and reach $2,886.0 million by 2025, and $4,819.4 million by 2030.
The report further states that the residential market was the largest and fastest-growing segment of the air purifiers market, which accounted for 73% of the market or $1,143.0 million in 2019 and is continuing to grow following the pandemic.
Stocks to Watch
Given that the pandemic is far from over and people will continue to try and keep themselves safe, air purifiers are becoming a necessity. It would thus be prudent to invest in these four stocks.
Koninklijke Philips N.V. (PHG - Free Report) operates as a health technology company worldwide. The company manufactures smart air purifiers and humidifiers. The products come with HEPA filters for increased protection.
The company’s expected earnings growth rate for the current year is 12.8%. The Zacks Consensus Estimate for current-year earnings has improved 8.5% over the past 60 days. The company has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Whirlpool Corporation (WHR - Free Report) is one of the largest manufacturers of home appliances in the world. Besides, it also produces hermetic compressors for refrigeration systems and offers quality air purification solutions. According to Whirlpool, the company’s HEPA purifiers are capable of removing as much as 99.97% of particles from air.
The company’s expected earnings growth rate for next year is 8.5%. The Zacks Consensus Estimate for current-year earnings has improved 4.1% over the past 60 days. Whirlpool has a Zacks Rank #3 (Hold).
Carrier Global Corp. (CARR - Free Report) is a provider of heating, ventilating and air conditioning, refrigeration, fire, security and building automation technologies. Following the COVID-19 outbreak, the company has launched a wide range of air purifiers for residential units, schools and single apartments.
The company’s expected earnings growth rate for next year is 15.7%. The Zacks Consensus Estimate for current-year earnings has improved 1.6% over the past 60 days. Carrier Global has a Zacks Rank #3.
Johnson Controls International plc (JCI - Free Report) offers a wide range of filtration products. From residential and commercial buildings, to clean-room environments, the company is committed to offering best-in-class, reliable filtration products every time.
The company’s expected earnings growth rate for the current year is 12.5%. The Zacks Consensus Estimate for current-year earnings has improved 2.4% over the past 60 days. Johnson Controls has a Zacks Rank #3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>