A recent research done by 6Wresearch estimates that from 2016-22, the Air Purifier market in India will grow at a CAGR of 37.6%. As of now, the Air Purifier market in India is at a nascent stage and is mainly confined to the metropolitan cities of the country, specifically the northern part that registers the highest level of pollution.
WHO recently released a data where India ranked as one of the most polluted countries in the world. The main factor behind this is the growing industrialization, urbanization, and dependency on the non-renewable source of energy. In addition to this, an increase in vehicles and dust from construction activities is further degrading the air quality in all major cities.
The other factor behind the penetration of Air Purifier in Tier-I, II markets is rising number of individuals suffering from respiratory disease. Even though the rising level of pollution has become a concern for everyone, it has come as a good news for the Air Purifier market that will only grow in the coming year.
Commenting on this, Avishrant Mani, Senior, Research and Consulting, 6Wresearch, states:
IT'S BEEN FORECASTED THAT INDIA AIR PURIFIER MARKET IS ANTICIPATED TO WITNESS HIGH GROWTH BECAUSE OF INCREASING ADOPTION END USERS IN HOSPITALITY, COMMERCIAL, EDUCATIONAL INSTITUTE AND HEALTH CLUBS. ALSO, BECAUSE OF THE DECLINING PRICES OF THE AIR PURIFIER, THE MARKET HAS STARTED SHIFTING ITS BASE TO THE MIDDLE CLASS.
Top players such as Sharp, Eureka Forbes, Philips, Blueair, Crusaders Technologies, Daikin Air Conditioning, LG, Honeywell, Panasonic, Atlanta Healthcare and OSIM International have focused their attention on the northern and southern regions of the country, which have registered the highest demand for Air Purifiers.
According to 6Wresearch, Delhi and Mumbai have witnessed highest level of air pollution, creating a market for Air Purifiers to flourish. Whereas Southern regions like Bengaluru, Mysore, Coimbatore, Hyderabad, Chennai and Thiruvananthapuram would play a significant role in the coming times in increasing the demand for Air Purifiers.
Media Source: PC Tablet