India’s Emergent Market for Indoor Air Purifiers and Technological Development Offers Enormous Opportunities to New Players: Bonafide Research

Poor indoor and outdoor air quality has become a major health, political and economic issue in India, in recent years. Nearly 75% of the population is exposed to poor air quality and 13 of the world’s 20 most polluted cities are in India, according to the World Economic Forum. The human cost of polluted air is vast in terms of death and disease, with children and elderly people being the most vulnerable. Increasingly polluted air is boosting the adoption and development of indoor air purifiers. However Technology enhancement in air purifier is increasing at a fast pace, with companies rolling out mixed technologies and artificial intelligence air purifiers. According to recently published report of Bonafide Research "India Air Purifier Market Outlook, 2021", the market will grow at a CAGR of more than 30% over next four years. As air pollution becomes a major concern across the India, technologies that can filter multiple pollutants and are intelligent as well as cost effective will gain traction in all end-user segments. Rising income levels, heightened awareness of the importance of indoor air quality and the commercialization of more low-cost indoor air purifiers will further boost the development of novel air purifiers and rapidly increases the demand of air purifiers in India. Technology development is advancing at a rapid pace, with companies rolling out mixed technologies and artificial intelligence air purifiers. However, the commercial availability of air purifiers that do not comply with regulations, and produce hazardous by-products such as ozone, is restraining uptake. End users also tend to expect instant improvements in health once they install air purifiers, and are impatient with their slow effectiveness in alleviating allergies and asthma. Product innovations and vertical integration to improve affordability is likely to open new market avenues in the near future. Room air purifiers represent the most promising market for Finnish companies. Finnish companies have excellent products to offer for potential clients in the B2B and B2C sectors; these clients are for example hospitals, educational institutes, data centres, households, offices and commercial buildings. The market needs better price-quality products. Currently, the premium market is import-orientated and there is a huge opportunity to manufacture the products in India, in order to offer price competitive products well amongst the competitors in the market. This also benefits from the new regulation under the Government’s Make in India – program, which gives an incentives and tax-benefits to foreign companies to manufacture in India. Major companies operating in the Air purifiers market of India are Eureka Forbes, Daikin India Pvt. Ltd, Philips India Ltd, Panasonic India Pvt. Ltd., Blueair India Pvt. Ltd., Atlanta Healthcare, Kent RO Systems Limited, Sharp India Limited, Crusaders India Pvt. Ltd, and LG Electronics India Pvt. Ltd.

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