The increased demand of air-purifiers has made the air-purifier industry a promising entrepreneurial venture for the aspirants. Read on to know how air-purifier industry can be a beneficial investment in the coming years.
A constant deterioration of the air quality has led to a massive scarcity of healthy air on which we survive our lives. The atmosphere is so polluted that even the indoor-air is not safe for the living. According to a recent study, 90% of the people spend most of their time indoors. Researchers also say that the air-quality indoors is way far more dangerous than that outside.
Pollution has hit people’s health in a big way during the past few years that has made people more careful, in terms of their overall wellness. This concern has given birth to a completely new industry, which is the air-purifier industry. In the past few years, the demand for air-purifiers has risen drastically and this increase has made the air-purifier industry a promising entrepreneurial venture for the aspirants.
Read on to know how air-purifier industry can be a beneficial investment in the coming years.
Air-Purifier Industry to Mark an Exponential Rise in Sales
According to a recent study, the Indian air-purifier industry is poised to grow at a CAGR of 22% in the period of 2018-2023. In the past few years, the industry has witnessed enormous transformation due to the rising awareness on air purifying products. This is why the demand has been escalating in the country.
Not just in India, but the industry has a great scope in the foreign countries as well. The global market for air purifiers is expected to reach $11,403 billion by 2025 at a growing CAGR of 12.2%.
Thus, it is evident that the market has a plethora of opportunities for aspiring entrepreneurs.
Increasing Degradation of Air
It is unfortunate that the air around us has been drastically affected by the constantly harmful actions caused by human intervention. But this deterioration has paved the way for an outburst of air purifier manufacturing companies in the market.
The rising pollution has given the industry a favorable opportunity as these air purifying products help in improving the air-quality indoor and eradicate various allergens, bacteria, viruses, and volatile organic compounds.
The industry has seen a massive growth in demand because of the increasing awareness on air purifying products over the past few years.
Technological Advancement Paved the Way For Growth
These days, more and more technological advancements are coming into the picture in almost every sector. When we talk about technology and the air purifier industry, there are numerous kinds of technology used in these products. Air filters such as HEPA, electrostatic air purifiers, ozone generators and others, are what can be upgraded in the near future.
In this way the technological advancement provides a backup support for the industry in the coming future.