The global outbreak of Covid-19 virus has led to massive disruptions in all industries, especially with sectors including travel, hospitality and automakers bearing the brunt. The looming public health crisis has claimed over 300 thousands lives till date globally and apart from that, it continues to pose a threat on the lives, livelihoods and businesses across the world.
In India, the non-essential consumer goods industry including electronics, apparel, smart devices and kitchen appliances among others has also faced one of the hardest hits due to the corona virus pandemic. Consumers are cautiously spending on necessities such as food and groceries and deferring purchases of high-cost items such as electronics. This practice of discretionary spending is expected to be observed throughout the year with diminishing savings and employment uncertainty among consumers amidst this black swan event.
Covid-19 is not an airborne virus and the efficacy of air purifiers in stopping its spread has not yet been proven by health professionals. However, during the initial outbreak and prior to the imposition of the national lockdown and social distancing norms in the country, air purifier companies witnessed a slight rise in demand by consumers as a precautionary measure against the virus. Some air purifiers have anti-bacterial and anti-viral filters for viruses such as H1N1 and more which propelled the demand.
Effect in Q1, FY’2021: After the 21 day lockdown was imposed, the air purifier business was severely hampered. Retail and online sales came to a standstill due to disruption in supply chain, logistics and online channels being used only for delivery of essential items. The air quality index has also come down significantly due to the reduction in human and industrial activity. As per the Central Pollution Control Board, the Air Quality Index (AQI) in Delhi on April 27, 2020 was moderate while it belonged to the poor category for the same period in 2019 with an AQI of 256. With residential sales coming to a halt, air purifier companies are banking upon commercial end-users to create demand during the period.
Temporary & Long Term Shifts in the Business Practices: After the restrictions are eased, air purifier companies are expected to resort to the existing inventory in the short term with production and global trade being hampered. Recovery in the residential sector is anticipated to be slow due to discretionary consumer spending and low pollution levels. Air purifiers are still considered a luxury or lifestyle commodity rather than a necessity by the masses. Temporary shift in focus towards commercial and institutional end-users particularly hospitals, offices, government buildings is anticipated to aid rebound of the industry.
In the longer run, shift in business practices is expected in the form of rising focus on online sales through E-commerce platforms due to continued fear of contact among consumers as a spillover of the Covid-19 outbreak. With the economy currently thriving on digital mediums and larger number of consumers shifting towards online retail, air purifiers companies will leverage the opportunity and target the online sales channel to drive sales. This would be coupled with collaborations with hospitals and health professionals to boost sales amidst the rising health and safety concerns among consumers and awareness about indoor air pollution.
Key Segments Covered:-
By Technology
HEPA & Carbon
HEPA, Carbon & UV
HEPA, Carbon & Ionizers
Others
By Distribution Channel
Retail
Online
Direct
By Coverage Area Applicability
Upto 250 sq. ft.
251-500 sq. ft.
Above 500 sq. ft.
By Weight of Air Purifier
Less than 5 Kg
5-10 Kg
More than 10 Kg
By Region
North
West
South
East
By End-Users
Residential
Commercial
Institutional
Companies Covered:-
Philips India Limited
Honeywell India Private Limited
Sharp Business Systems (India) Private Limited
Blueair India Private Limited
Dyson Technology India Private Limited
Xiaomi Technology India Private Limited
Panasonic India Private Limited
Eureka Forbes Limited
Kent Air Purifiers Limited
Key Target Audience:-
Air purifier Companies
Component Manufacturing Companies
Consumer Appliance Companies
Air Purifier OEMs/Assemblers
Air Purifier Importers/Exporters
Modern Trade Chains
Consultancy Companies
Time Period Captured in the Report:-
Historical Period: FY’2014 – FY’2020
Forecast Period: FY’2020 – FY’2025
Key Topics Covered in the Report:-
Air Quality in India and Health Effects
Target Addressable Market of Air Purifiers in India
Trends and Growth Drivers in the Industry and Challenges Faced
Air Purifier Industry Market Size and Segmentations, FY’2014 – FY’2020
Ecosystem and Value Chain of Air Purifier Industry in India
Industry SWOT Analysis
Customer Decision Making Parameters
Cross Comparison between Major Players and Company Profiles & Product Portfolios
Success Case Studies in the Industry
Future Market Size and Segmentations, FY’2020-FY’2025F
Factors Affecting Future Growth (Covid-19 Impact)
Analysts’ Recommendations on Market Positioning and Future Target Hotspots
For More Information on the research report, refer to below link:-
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Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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