Air Purification Market after Covid

How do kill something which is invisible?

Social distancing is just not enough this is the lifestyle that we MUST ADAPT to send across to the market right now. There are recent case studies done to show the significant COVID-19 is not an airborne virus, but it can be transmitted via Aerosol, and thus it’s the time for consumer to invest their attention towards air purifiers. The current market has surged from 20% to 24% for air purification industry. Air purifier market is poised to grow by USD 8.84 billion during 2020-2024 around the globe, progressing at a CAGR of over 9% during the forecast period. Indian Air Purification Market size is projected to grow at a CAGR of 19.6% during 2020-26. Our product forest is the most significant product amidst the time of crises which can ensure consumers of their shelter indoors from contaminants in air. It is what makes our product unique. Our product has offering bestowed to market sentiments and needs. 

 According to the United States Environmental Protection Agency, "There is considerable evidence that glycol vapours produce significant decrease in numbers of viable airborne bacteria under relatively wide conditions of relative humidity and temperature when properly and continuously dispensed by a vaporizing device so as to maintain suitable concentrations in the air in enclosed spaces”. Our product offers air sanitization by disinfecting contaminants which caters to the competitive advantage of our product, as breathing purified air is not merely the need of an hour, rather a lifestyle we advocate. With air pollution and virus becoming a health hazard, there is very little significance on what residents can do to immediately to address the enigma; this is where the air purifier steps in. Topically, the Asia-pacific region accounts for the highest revenue share in overall global air purification market. Domestically, North India holds largest market share of air purifier sales due to high levels of pollution and blatantly deteriorating air quality Index, specifically in the Delhi-NCR region. The residential sector witnessed the maximum deployment of air purifiers during 2019, followed by the commercial & industrial sectors. This could be attributed to the fact that people are becoming aware of the health hazards of ambient pollution on human health and are taking precautionary measures to succour from Infectants within their homes. This signifies the consumer mindset, which succumbs them to adopt new technology by making conscious decision through allocating a certain amount of wealth towards their health. As the air quality keeps on deteriorating, chronic obstructive pulmonary disease becomes the second cause of deaths in India consists of almost 12.5% of total deaths in 2017 and 0.48 million death caused by only household pollution and 0.67 million deaths from ambient particulate matter pollution. According to WHO, poor air quality has caused approximately 4.2 million premature deaths in the year 2016, out of which 90 percent of these deaths were recorded in low- & middle-income countries.

The evolution of India's 'internet' era has brought with it many pleasant improvements. India has become the world's second-largest Internet economy, though industry-long-lasting revenues and financing schemes have skyrocketed in the country, showing that the air purification sector has seen a growth in revenue across Tier 1 and Tier 2 cities, Ceremonious to this, the air purification industry got consciously awarded of this in several Tier 1 and Tier 2 cities in India. Sanitisation and hygiene has been reborn as a way of life in people’s daily routine and people are taking seriously the potential danger caused by this form of obligatory pollution.

The Government of India has provided INR 69 000 crore in the recent 2020 budget to boost the healthcare sector. Further, Aspirational District scheme has been initiated by the Government of India that would provide new hospitals and colleges in 112 undeserved districts of Tier 1 and Tier 2 cities. Such government initiatives and favourable schemes in the healthcare industry, would help paving way for the growth of air purifier market in near future. Key factors which would drive the market growth across such segments include the initiatives taken up by the government agencies such as the deployment of air purifiers in the city area for clean air and growing awareness among the people regarding air borne diseases and rise in the air pollution levels during office hours.

There are many other studies that show why there is a need of air purifier in a consumer’s lifestyle: 

•According to a US based study, it is evident that “organisms built out of the dust reserves show relative germicidal vapours and can lead to air-borne infections

•Relative humidity under experimental conditions have proven to be capable of containing about 50 percent of the lethal microorganism

•The Environmental Protection Agency recorded 15 percent increase in the days with unhealthy air quality in 2018 & 2017 as compared to 2013- 2016. 

•The reach of indoor air pollution in the world amounts to 3 billion people who are at the risk of suffering from respiratory and heart related diseases

•Various treaties and agreements like the Paris Agreement sanctioned in November, 2016 are an effort towards curbing the issue whereas the Montreal Protocol takes massive steps like banning of the deadly gaseous substances like HFCs & CFCs