LG ventures into Portable Air purifier segment in India
- Published | 02 August 2019
LG has introduced mini portable air purifier and water purifier with stainless steel which will directly influence air purifier market
The venture is going to strengthen the LG presence in the
home appliances and air solutions category in the country. The air purifiers
would be manufactured at LG India's plant at Greater Noida.
Priced at Rs 13,990, the firm has launched the premium range
of five air purifiers which would be introduced across the country soon. It has
started selling the products in Chennai from July 1. The company has added
additional features such as Wi-fi enabled fan is equipped with the latest
technologies with Amazon's Alexa and Google Assistant compatibility, along with
its IoT platform LG SmartThinQ allowing users to control remotely via mobile.
In January, CK Birla group firm Orient introduced 'Aeroslim'
which was the industry's first internet of things (IoT)-enabled smart air
purifier. It also has 'mosquito away' technology besides the sleep mode that
adjusts fan speed during the night. In august among the other new products LG
will also introduce the Puricare Mini, Air purifier weighs 530 gm and can
easily fit in the glass holder of a car or to be carried in arms. Priced at Rs
15,990.
According to Blueweave Consulting, a rise
in carbon footprints due to the suburbanization and industrial development is
leading to poor breathing and air quality which is driving the air purifier
market. Global warming and Pollution due to lack of trees triggers poor health
conditions which led to the significant decision of discovering air purifiers.
The portable purifier market is expected to have momentous growth in the coming
years as it has many advanced features which removes air pollutants from room to provide a healthy
environment. Rising health concerns and disposable income has created
opportunities for the portable air market. Expanding the urban population is
also favoring the air purifier market.
The market study reveals that the Global Air Purifier Market is expected to grow with a CAGR of over 32.4% during the forecast period, 2018-2024 in terms of value. The adoption of air-purifier in automobiles is comparatively higher in Asia-Pacific than in other regions. This owes to the fact that developing countries in Asia-Pacific are largely affected by air pollution. Governments along with automobile manufacturers are taking initiatives to promote the technologies that will help in reducing the harmful effects of toxic air. Asia-pacific is the region with fastest growing economies such as China and India, with the former accounting for more than 60% of the Asia-Pacific in-vehicle air purifier market revenue. Also, the vehicle production in this region is the highest in the world and is estimated that Asia-Pacific would show promising growth in the air purifier market
The global Smart Air Conditioner market is
estimated to grow at a significant rate, during the forecast period 2019-2025.
Smart air conditioners are highly efficient air conditioner which has built-in
Wi-Fi and user interface to allows advanced controlling like many other smart
devices; a smart AC allows to access and control all its functionality via an
app. Moreover, this enables to turn the air down right before anyone gets home
on a hot day or turn it up which also helps in reducing energy waste, thus also
reducing energy costs as well. Increasing disposable income coupled with
changes in standard of living of the consumers are vital factors expected to
encourage the growth of the global Smart Air Conditioner market in the upcoming
period.
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