India Air Purifier Market Set to Witness Roaring Growth: Forecast to Grow at a CAGR of 34.4% by 2027
Published | 25 November 2021
India air purifier market is growing at a high CAGR because of the deteriorating air quality and increasing prevalence of airborne diseases along with the launch of a wide range of products by various air purifier brands at competitive prices….
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the India air purifier market was worth USD 74.8 million in the year 2020. According to the study, the market is estimated to grow at a CAGR of 34.4%, earning revenue of around USD 565.7 million by the end of 2027. The growing air pollution levels and rising disposable income, along with the growing health concerns regarding the harmful effects of air pollution on human health are expected to boost market growth over the forecast period. Furthermore, the flourishing demand for air purifiers in the middle and high-income class families in India is growing rapidly and is anticipated to boost the India air purifier market during the forecast period. However, the need for significant space to set up air purifiers and high and periodic maintenance costs may act as a major restraining factor for the market growth.
Growing Demand for Portable Air Purifiers Driving the India Air Purifier Market
Based on products, the India air purifier market is segmented into portable air purifiers, whole-house air purifiers, and cleaners, electrostatic precipitators, smart air purifiers, and others. The portable air purifiers account for the largest market share because of the convenience it offers to carry these devices anywhere. Furthermore, portable air purifiers have a variety of other benefits as well, such as reducing the chances of health issues caused by indoor air pollutants, minimizing the presence of airborne viruses and germs in indoor spaces, etc., which promotes their market growth.
Increasing Penetration of Online Sales Channels is Projected to Boost the India Air Purifier Market
Based on the distribution channels, the India air purifier market is segmented into online distribution channels and offline distribution channels. The offline distribution channel is further classified into specialty stores, departmental stores, direct to consumer, and others. The online distribution channel accounted for the largest market share in 2020. The demand for air purifiers in India gained significant traction, especially after the COVID-19 period as they are very efficient in controlling the Novel SARS COV2 coronavirus. The offline channels were disrupted during the period due to lockdown restrictions. Thus, online stores were the only option for buying air purifiers in India. Furthermore, the high popularity of consumer good websites, such as Amazon.com, Flipkart, etc., in the Indian market also plays a crucial factor in driving this segment’s growth.
The Residential Segment is Propelling the Market Forward
Based on end-users, the India air purifier market is segmented into residential, industrial, and commercial segments. Among these, the residential segment accounts for the largest share in the market. According to the US Environment Protection Agency, indoor air quality can often be worse than outdoor air quality due to the high volume of dust and pet dander, along with other pollutants, such as radon and carcinogens from cleaning supplies and building materials. Health problems caused by poor air quality include irregular heartbeat, nonfatal heart attacks, asthma, respiratory problems, etc. Thus, consumers are increasingly using air purifiers in their homes, driving the market growth.
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India Air Purifier Market - Regional Insights
Geographically, the India air purifier market is segmented into North India, South India, East India, and West India. Among these, North India dominates the India air purifier market. The high concentration of industrial cities in this region, such as Delhi (UT), Ghaziabad, Ludhiana, Agra, Bhadohi, etc., is fueling the demand for air purifiers in both commercial and residential segments. On the other hand, the South region is also emerging with significant growth potential because of the presence of industrialized space in states such as Tamil Nadu and Andhra Pradesh, which is contributing to the deteriorating air quality.
Impact of COVID-19 on India Air Purifier Market
The India air purifier market was negatively impacted during the initial outbreak of the COVID-19 pandemic. The obstruction in the manufacturing and supply chains due to lockdown halted the growth of the India air purifiers market. The commercial applications of air purifiers, such as their use in hotel rooms and restaurants, were also limited due to temporary shutdown and restrictions on tourism to curb the virus spread. However, the market is anticipated to gain traction in the post-COVID-19 period as the manufacturing activities resume. Additionally, the manufacturers are resorting to online platforms to boost their sales, which is projected to drive the market during the forecast period.
India Air Purifier Market is Fragmented as Well as Competitive
The leading players in the India air purifier market are Philips India Ltd., Honeywell Automation India Ltd., Sharp Business Systems Private Ltd., Eureka Forbes Ltd., Panasonic India Pvt. Ltd., Blueair India Pvt. Ltd., Daikin Air Conditioning India Pvt., Kent RO Systems Ltd., Mankastu Impex Pvt. Ltd., Crusaders Technologies India Pvt. Ltd., and other prominent players.
The company is highly fragmented as well as competitive due to the presence of various global as well as local industry participants. The market players constantly launch a wide range of products with innovative features and competitive prices. The company significantly focuses on improving its distribution channels and spending on advertising to expand its market penetration and sales. Also prevalent in this market are strategies like partnerships, mergers, acquisitions, joint ventures, etc.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India air purifier market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the India air purifier market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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