4 Air Purifier Stocks to Watch on Growing Demand Amid Pandemic
The COVID-19 pandemic has increased market demand and the value of a wide variety of things that have long deserved attention. Personal protective equipment such as face masks and gloves, hand sanitisers and air purifiers have become indispensable in our lives over the past few months.
These are perhaps the only things we have on our hands right now to help fight the coronavirus as a successful vaccine. This is still far from reality. Air purifiers, in particular, have been in high demand when needed after the COVID-19 outbreak.
COVID-19 Helps Sell Air Purifiers
According to a 2016 report by the International Energy Agency, air pollution causes around 6.5 million deaths each year, making it the fourth largest threat to human health worldwide. The threat has only grown since then, with this year being an exception.
Air purifiers can greatly help people who suffer from asthma, air allergies, and other breathing disorders. And with COVID-19 in the air, air purifiers have seen a surge in demand for residential and commercial buildings as a preventative measure.
Air purifier market ready to grow
The coronavirus is mainly transmitted from an infected person to a healthy person through respiratory droplets and contact routes. According to the United States Environmental Protection Agency, air purifiers can reduce air pollutants that contain viruses in a confined space. However, one would need to use it along with the other best practices recommended by the Centers for Disease Control and Prevention (CDC) to come up with an ideal plan for protecting against the disease. In fact, on October 5th, the CDC revised its guidelines, warning people that those who are also three feet apart are at risk of contracting tiny particles that linger in the air. This is definitely a cause for concern and makes air purifiers even more important.
According to a report by the market research agency Arizton, a CAGR of over 42% is expected for the global market share of air purifiers from 2019 to 2025. Residential air purifiers are the most effective means of improving indoor air quality and reducing or removing sources of pollutants and using clean air to ventilate, especially during the period of this pandemic. According to a report by ResearchAndMarkets.com, the global household air purifier market is expected to reach $ 13.6 billion in 2025, up from $ 9.2 billion in 2020, an annual growth rate of 8.2% over the forecast period .
Shares in focus
With coronavirus cases on the rise in the United States since the states reopened, the importance of air purifiers will only increase from here.
Whirlpool Corporation WHR is one of the world's largest manufacturers of home appliances. Hermetic compressors for refrigeration systems are also manufactured and high quality air cleaning solutions are offered. According to Whirlpool, the company's HEPA cleaners can remove up to 99.97% of particles from the air.
The company's expected earnings growth rate for the next year is 26.5%. The Zacks consensus estimate for the current year’s result has improved 0.5% in the past 60 days. The company's shares are up 45.3% over the past three months. Whirlpool has a Zack rank 2 (Buy). The full list of today's Zacks # 1 Rank (Strong Buy) stocks can be found here.
Newell Brands Inc. NWL is a global manufacturer and marketer of consumer and commercial products including air purifiers like Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer, Marmot, Oster, Rubbermaid, Sunbeam, FoodSaver, Graco, Baby Jogger and others.
The company's expected earnings growth rate for the next year is 15.2%. The Zacks consensus estimate for the current year’s result has improved 4.2% over the past 60 days. The company's shares are up 10.3% over the past three months. Newell Brand has a Zacks rank 2.
Carrier Global Corp. CARR) is a provider of heating, ventilation and air conditioning, cooling, fire, security and building automation technologies. Following the COVID-19 outbreak, the company launched a wide range of air purifiers for residential units, schools, and individual homes.
The company's expected earnings growth rate for the next year is 15.7%. The company's shares are up 32.9% over the past three months. Carrier Global has a Zacks Rank 3 (Hold).
Unilever NV UN entered the air purifier space with the acquisition of Sweden-based Blue-Air, a leader in air purification solutions with the leading filtration technologies and designs.
The company's expected earnings growth rate for the next year is 2.8%. The Zacks consensus estimate for the current year’s result has improved 0.7% in the last 30 days. The company's shares are up 13% over the past three months. Unilever has a Zacks rank of 3.
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