Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSNovember 2019: The Chief Minister of Delhi, Arvind Kejriwal, announced the closure of schools until 5th of November from the 1st of November in Delhi, owing to rising air pollution levels.
Air purifiers are referred to all those devices which removes contaminants from the air inside an enclosed area so as to improve the indoor air quality. Primarily targeted as a marketing strategy for common people to benefit allergy sufferers and asthmatics, air purifiers also find commercial applications, for instance, to remove impurities such as carbon dioxide, smoke particles and others.
Air Purifier purifies the air in two most common ways: active and passive. Active air purifier releases negatively charged ions into the air. Pollutants in the air stick to these ion surface. On the other hand, passive air purifier uses air filters to remove pollutants, and is more effective than active air purification process.
Air purifier acts against the two types of pollutants: Primary and Secondary pollutant. A brief insight on the type of air pollutants is given below:
The Indian air purifier market is observing vibrant growth on account of factors such as growing air pollution, rising awareness amongst people for diseases linked to air pollution, for instance, asthma, diabetes, premature deaths, intellectual disability, and menstrual health among others, coupled with reducing life expectancy of the people. According to a report by the World Health Organization (WHO), air pollution was responsible for 7 million premature deaths around the globe in the year 2016, out of which, almost 600,000 were children under 5 years old. Another report by the Centre for Science and Environment (CSE), air pollution in India is responsible for 30% premature deaths, cancer and mental diseases. Furthermore, dividing the nation into sub-regions, i.e. North, South, East and West India, the market is anticipated to observe rapid growth in Northern India owing to greater pollution levels in the sub-region. CLICK TO DOWNLOAD SAMPLE REPORT
The market is anticipated to record robust CAGR throughout the forecast period, i.e. 2019-2027. The Indian air purifier market is segmented by end user into residential, commercial and others, out of which, the residential segment is estimated to occupy the highest market share, owing to various air borne diseases that can affect children who may generally have a weak immune system and are likely to remain susceptible to such diseases.
The air pollution level is measured by a measuring indicator known as the air quality index (AQI). These data are used by the governmental agencies to inform the public about the current as well as forecast data of air pollution. When there is a rise in AQI, risks for public health increases accordingly.
Various states in India observed rising air pollution levels with limits reaching around 999 AQI. The pollution goes to extreme levels especially during winters, when the nation observes various festivals, mostly Diwali, which symbolizes the spiritual victory of light over darkness. Further, many states in the nation observes “jhum cultivation” which is also known as the slash and burn agriculture, thereby contributing significantly to the rising air pollution levels. According to The World Air Quality Index project (AQI), on 3rd of November, 2019, at around 2pm, in Delhi (India), recorded an extreme level of around 999 AQI.
Additionally, according to The Air Quality Life Index (AQLI) of the Energy Policy Institute at the University Of Chicago (EPIC), weighted pollution in Delhi increased from 72.88 units in the year 2012 to 113.9 units in the year 2016.
The increasing concerns for rising air pollution levels across the country and the awareness of the threats associated to the increasing AQI levels amongst consumers, all of these factors are anticipated to fuel the growth of the India air purifier market.
According to Centre for Science and Environment (CSE), every third child in Delhi (India) alone have impaired lungs due to the high level of pollutants that are present in the city’s air. The report also added that life expectancy in India grew down by 2.6 years owing to outdoor and household air pollution together. Growing concerns amongst consumers for health diseases associated with the rising air pollution levels across the nation is anticipated to promote significantly towards the growth of the India air purifier market over the forecast period.
According to The World Bank, gross national income (GNI) of India grew from 66530.96 constant LCU in the year 2010 to 103176.30 constant LCU in the year 2018 with a growth rate of 1.55x.
The growing gross national income in the nation is anticipated to raise the purchasing power of the residents of the nation. Increasing interests for health gadgets coupled with the rising purchasing power, all of these factors are anticipated to support the growth of the India Air Purifier market throughout the forecast period.
The cost of production of air purifiers is often very high owing to the high price of the various air filters used in the devices, thereby affecting the cost of the end-product. The resulting factor might pose as a major barrier restricting the low-income populations from availing the product. Additionally, high maintenance cost of air purifiers is also anticipated to act as a barrier to the growth of the India air purifier market.
Our in-depth analysis of the India air purifier market includes the following segments:
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