Kolkata, Feb 24 (UNI) Indian residential air purifiers market is projected to grow at a CAGR of more than 29 per cent from the current level of USD 14.14 million to USD 38.99 million in 2023, backed by rapid urbanisation, increasing purchasing power, expanding urban population and deteriorating air quality, according to an ASSOCHAM-TechSci Research joint study.
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 are anticipated to boost demand for air purifiers in India, noted ASSOCHAM-TechSci Research on ‘Bio Medical Waste & air pollution’.
The residential sector accounted for a revenue share of around 22 per cent in the overall India air purifiers market in 2017, on account of increasing airborne disease in the country, due to rising air pollution.