NEW DELHI: With pollution level increasing in many parts of the country, the residential air purifiers market is growing rapidly and is likely to touch $39 million figure by 2023, according to an Assocham-TechSci joint study. The current market size is of $14 million.
The study says that the growth will be backed by rapid urbanisation, increasing purchasing power, expanding urban population and deteriorating air quality. Some of the other key factors expected to drive the market are growing technological advancements, aggressive marketing strategies by air purifier companies, increasing incidences of airborne diseases and aspiration to lead a healthier lifestyle, says the study titled “Bio Medical Waste & Air Pollution”.
The presence of high concentration of PM2.5 and PM10 in the air leads to high pollution levels in northern states, especially Delhi NCR region which is among the most polluted. As a result, demand for residential air purifiers is increasing, says the joint study.
With this, the demand for air quality monitors has also increased manifold in the last couple of years. Kaiterra, for example, which manufactures air quality monitors, sold 2.5 times more products in 2018 compared to 2017, the year when it started operations in India. Nita Soans, India CEO of Kaiterra, said with increased awareness for better air quality, the company is getting orders for more products “and we hope to see a growth of 300% this year”.
Kaiterra co-founder Liam Bates said India has immense potential for air quality monitor market as both government and people are getting concerned about increasing pollution level. “Besides widening our customer base, we are also setting up and monitoring outdoor air quality monitors across Delhi NCR to aid more detailed research aimed at solving north India’s air pollution problem,” he added.
According to the study, the residential sector accounted for a revenue share of about 22 % in the overall Indian air purifiers market in 2017, on account of increasing airborne disease. Rising air pollution, both outdoor as well as indoor, is solely responsible for increasing the number of asthma and chronic obstructive pulmonary disease patients.