Sweden-based air purifier firm Blueair, which counts India as a priority market, expects to corner 10 per cent market share in the country by 2020.
The company that operates in the premium space, doubled its sales this year and expects to continue in the same vein for at least the next two years.
Blueair Director West and South Asia Region Girish Bapat said “Though we only operate in high-end of market, our aim is to address at least 10 per cent of the market. If we have to reach the target levels by 2020, we need to double our sales at least for the next two years. For Blueair, India is a priority market in terms of future potential and the company expects the fledgling air purifier industry to be a Rs 1,500 to Rs 1,800 crore market in the next three years. India is definitely on top in terms of priority for Blueair not in terms of current contribution of value or numbers. India is top most in terms of priority when it comes to the future potential of the market. It is a question of when that turn (inflection) happens. We expect that to happen sometime in the next two to three years. In the next two to three years, India would be one of the major markets for air purifiers in the world. In three years, by 2020, “we expect the industry should be Rs 1500 to Rs 1800 crore, from Rs 350 crore. We are just waiting for that inflection point. Manufacturing (in India) is not on cards right away because the industry is very small. In future we will definitely consider manufacturing.
The nascent air purifier market in the country is pegged at Rs 350 crore that clocked a growth of 40 per cent this calendar year, with 28 brands vying for a share at present. Though the air purifier market is concentrated in Delhi NCR, especially in winter, he noted that as per the qualitative indicators, the awareness levels have increased among people in the country.
Girish Bapat also said “The products for auto segment or in-cars, we will definitely introduce in the coming year. We have launched our masks in China, we still haven’t done that in India, but that is another product that we will launch in the coming year”.