Northern Region Boosting the Market for Air Purifiers in India - 6Wresearch
Industrialization, growing urbanization, dependency on non-renewable sources of energy, rising pollutants, and growing number of vehicles have significantly deteriorated the quality of air across India. In addition, dust from construction activities is further degrading the air in all major cities. These factors have resulted into the usage of air purifiers in India. Also, rising number of individuals suffering from respiratory diseases has become another major factor which is driving its penetration.
According to 6Wresearch, India Air Purifier Market is projected to grow at a CAGR of 37.6% during 2016-22. India's air purifier market is in its nascent stage, primarily confined to metropolitan cities only owing to rising pollution index, heath related issues and growing awareness amongst consumers. Northern region specifically is registering major demand for air purifiers in India. Delhi has emerged as one of the most polluted cities in the world, which is witnessing substantial demand for these purifier. The air pollution Particulate Matter (PM) 2.5 levels in Delhi were at 295 microgram/m3 and PM10 levels at 470 microgram/m3 in December 2015, which is considered to be 'Hazardous' as per international standard mentioned in Global Air Pollution Index.
According to Avishrant Mani, Senior Research Analyst, Research and Consulting, 6Wresearch, "Government, residential and healthcare applications are the major revenue contributing applications in the overall India's air purifier market. Expats and affluent class are the key consumers due to high prices of the devices. However, market has started shifting towards middle class group as well on the back of declining prices of the purifiers."
"Moreover, rising disposable income and changing lifestyle is expected to stimulate the growth of air purifier market in the coming years. During the forecast period, India air purifier market is anticipated to witness strong growth on account of increasing adoption end user in hospitality, commercial and other applications including educational institutes and health clubs, "Avishrant further added.
According to Sathi Paul, Research Associate, Research and Consulting, 6Wresearch, "Northern and western regions are the key revenue generating regions in India's air purifier market. Delhi and Mumbai have led for the growth of these regions. Government initiatives, implementation of strict rules to curb air pollution and rising health concerns particularly in northern region would contribute to growth of the market over the next six years."
"Southern region would be the second key contributor of air purifier market in the coming years owing to intensifying level of air pollution mainly in Bengaluru, Mysore, Coimbatore, Hyderabad, Chennai and Thiruvananthapuram." Sathi concluded.
India's air purifier market is led by players such as Sharp, Eureka Forbes, Philips and Blueair, which have captured significant share of the market revenues. Other players include- Crusaders Technologies, Daikin Air Conditioning, LG, Honeywell, Kent RO Systems, Panasonic and OSIM International.
"India Air Purifier Market (2016-2022)" provides in depth analysis with 34 figures and 17 tables covered in 135 pages. The report estimates and forecast overall India's Air Purifier market by revenue, volume, segments such as High Efficiency Particulate Air (HEPA), Activated Carbon, Ionic, Electrostatic Precipitator and other technology and regions such as northern, eastern, western, southern regions. Applications include residential, government, healthcare, hospitality, commercial offices and others.The study highlights the key potential areas and provides insights on competitive landscape, company profiles, market drivers and restraints.
Media Courtesy : Industry Today