India Air Purifier Market Volume to Grow at a CAGR of 30% during 2017-23 - 6Wresearch
India's air purifiers market is at a very nascent stage. When compared with adoption in developed countries, Indias penetration is negligible. However, the market is expected to evolve exponentially owing to increasing marketing push done by various players and also educating the customers about the benefits of using air purifiers.
According to 6Wresearch, India Air Purifier Market Volume is projected to grow at a CAGR of 30% during 2017-23. Contradictory to its core benefits i.e. cleaning indoor pollutants, the market is currently driven by the hype of density of outdoor pollution through media. This has spurred the overall market especially in tier-1 cities across India, wherein Delhi contributes more than half of total market. The market for air purifiers in India is highly cyclic in nature, where the major demand comes around in winters due to presence of smog. The trend is likely to continue for the next 2-3 years as well.
According to Vibhor Jain, CEO, Atlanta Healthcare, "The market off late has become quite competitive with multiple brands foraying into the category which is yet to mature in terms of awareness, standards, product offerings and demand. As multiple brands enter the segment, product standards, effectiveness of technologies / products coupled with customer preferences for smart features and IoT orientation would drive differentiation amongst players."
"Over the next 2-3 years, Internet of Things (IoT) will drive innovation in air purification segment providing customers unified and real time view of air they breathe through smart products covering monitoring, detection and protection for entire family," he further stated.
According to Shefali Goel, Research Analyst, Research and Consulting, 6Wresearch, "In the coming years, the demand for air purifiers is anticipated to grow apart from tier-1 cities on the back of increasing awareness about indoor pollution. Further, the market is expected to witness growth due to emergence of new players and declining prices."
"Technical advancements has also led to the development of smart air purifiers, which can be connected with smart phones predisposing to the growth of air purifier market in India," Shefali further added.
According to Aditi Sharma, Research Associate, Research and Consulting, 6Wresearch, "Growing awareness regarding indoor air pollution among people has resulted in massive demand from residential application making it the largest segment for consumption of air purifier followed by other applications."
"The key players in the market are namely-Atlanta Healthcare, Blueair, Crusaders, Daikin, Eureka Forbes, Honeywell Automation, OSIM, Panasonic, Philips, Kent and Sharp," Concluded Aditi.
"India Air Purifier Market (2017-2023)" provides in-depth analysis with 31 figures and 12 tables covered in 100 pages. The report estimates and forecast overall India air purifier market by revenue, by type of filter, by region and by verticals such as residential, commercial, government, hospitality & healthcare and automobile. The report also gives the insights on market share by companies, companies benchmarking, company profiles, market drivers and restraints.
Media Courtesy : Industry Today