Press Release Description
India Air Purifier Market to Be Shaped by Growing Use of Energy-Efficient Products
The India Air Purifier Market is projected to grow at a CAGR of about 7.4% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The rising degree of air pollution in the country is driving the market for air purifiers. Due to the prevalence of airborne diseases and pollution in various Indian cities, the Indian market for air purifiers is rapidly increasing. As a result of this, the use of air purifiers has increased, as indoor air can be more contaminated than outdoor air due to a lack of circulation, accelerating market size throughout the projection period.
Global energy use is rising. Rising energy demand as a result of population increase has put unprecedented pressure on fuel sources such as coal and oil. Carbon emissions from coal-fired energy, on the other hand, are significantly higher. Nations have established stringent measures to handle rising pollution issues. Manufacturers of consumer goods must also manufacture electrical devices with high energy efficiency ratings. Energy efficiency guidelines for household electronics have become more stringent. As a result, the preference of manufacturers and consumers for energy-efficient air purifiers is expected to contribute to the size and growth of the India Air Purifier Market during the forecast period.
Smart air purifiers can be controlled remotely using a smartphone app connected via Wi-Fi and Bluetooth. The key advantage of smart air purifiers over traditional ones is that users can monitor and check indoor air quality as well as change basic settings using their cell phones. As people become more conscious of the negative consequences of polluted air on their health, there will be a larger need for innovative and intelligent air purifiers. Air purifiers are frequently utilized in residential applications in metropolitan regions as a result of increased construction activity and fast urbanization. In contrast, smart air purifiers are most typically installed and used in small business units and the automobile industry. Thus, increasing demand for smart air purifiers amongst consumers is anticipated to create good opportunities for market growth during the forecast period, further states the research report, “India Air Purifier Market Analysis, 2024.”
Segmentation Analysis
Online Distribution Channel Expected to Hold Major Market Share
Small retailers earn the most revenue in the India Air Purifier Market. The air purifier market in India's small retail sector has huge growth potential. Small retailers can benefit from the increased demand for air purifiers by offering a variety of solutions at affordable prices. On the other hand, the online distribution channel is expected to grow fastest during the plan period due to its diverse product offerings. This channel of distribution offers shoppers more choices at lower prices than traditional retailers. With increasing urbanization and the desire for a more cost-effective and convenient shopping experience, this channel is expected to drive the growth of the India Air Purifier Market during the coming years.
Residential End-Users Anticipated to Capture Major Market Share
The residential sector is leading the market due to the increasing use of air purifiers in houses and apartments where people spend most of their time. The Indian home air purifier market is growing due to various causes such as the prevalence of airborne diseases and pollution in urban areas. As disposable incomes and living standards have improved, they have become more health conscious. The negative effects of air pollution have encouraged the adoption of air pollution control technologies, especially in India. Therefore, the market is expected to grow dramatically in the coming years due to the increasing desire for a healthy lifestyle, especially among young people in urban areas.
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Dyson Group, Koninklijke Philips N.V., Daikin Industries Ltd., Panasonic Corporation, Xiaomi Group, Eureka Forbes Ltd, LG Electronics, Inc., Haier Group, Blueair, Inc., KENT RO Systems Ltd, and Others, are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends that have shaped the industry to its current form?
- What key factors would propel and impede the industry across the country?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition shaped across various provinces, followed by their comparative factorial indexing?
- How have buying behavior, customer inclination, and expectations from product manufacturers evolved during 2019-30?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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