India Development News & Foreign Investment Opportunities

Purifier market to grow at 28% CAGR over 2019-24

Aggressive marketing strategies

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Aggressive marketing strategies

 

Honeywell International.
Source: Honeywell International.

The Indian air purifier market is projected to grow at a CAGR of over 28% during 2019-2024 to reach over US$220 million by 2024, on the back of rising expenditure on health and wellness products along with growing awareness regarding hazardous effects of air pollution.

It was US$49 million in 2018, said a ResearchAndMarkets report “India Air Purifier Market By Filter Type (HEPA and Activated Carbon, HEPA, Activated Carbon and Ion Ozone, Ion Ozone, HEPA, Electrostatic Precipitators, Activated Carbon and Others), By End Use, Competition, Forecast & Opportunities, 2014 – 2024” released 24 June 2019.

In addition, growing technological advancements, rising incidences of respiratory diseases, surging disposable income and growing urban population are expected to boost the demand for air purifiers in the country during forecast period, said the report.

Some of the other factors that would have a positive impact on air purifiers market in India are aggressive marketing strategies and the demand for premium products.

Some of the major players operating in the Indian air purifier market are Eureka Forbes Ltd, Philips India Ltd, Honeywell International Pvt Ltd, Kent RO Systems Ltd, Blueair India Pvt Ltd, Panasonic India Pvt Ltd, Crusaders Technologies India Pvt Ltd, Sharp Business Systems (India) Private Limited and Daikin Air Conditioning India Pvt Ltd. fiinews.com

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