LG electronics, Launched New Air Purifier in Global market

Korea: Korea based company, LG Electronics, added a new segment to its air purifier product line up, PuriCare, which was launched last year. In order to purify the air quickly, the company has added a booster that creates a strong wind for faster cleaning process. Air purifier, quickly purifies the air with its 360-degree air intake process.

Since, the launch of its air care brand, PuriCare, company’s sales of air purifiers have more than doubled. Also, by 2018, the company has plan to expand its air purifiers business into the US, china, and Europe. To boost the sales of air purifiers, the company has adopted two- pronged marketing strategy.

TechSci Research depicts that the air purifier market has been growing across the globe which is driven by rising concerns over the quality of air inside and outside the house due to the widespread culture of using rugs and pet breeding. The poor air quality inside and outside leads to major respiratory problems for which Air Purifiers are gaining popularity and being accepted and installed, the air purifier launched by LG is driven by consumer demand to live smart and breathe fresh. Further, the company is looking for growth opportunities in the market and aggressively expanding its consumer durables portfolio, of which PuriCare is one of the unique additions to this segment.

According to a recent report published by TechSci Research, “Global Air Purifiers Market Forecast and Opportunities, 2011 – 2021”, the global air purifiers market is projected to grow at a CAGR of around 14% till 2021. As per the report, air purifiers have been segmented into six categories, namely, HEPA and Activated Carbon; HEPA, Activated Carbon and Ion & Ozone Generator; HEPA; Activated Carbon; Ion & Ozone Generator; and Electrostatic Precipitator. Among these categories, HEPA & Activated Carbon based air purifiers dominated the global air purifiers market in 2015. The segment is anticipated to maintain its dominance over the next five years as well, as HEPA filters are effective in removing dust as well as particulate matter, while activated carbon is efficient in removing foul odor. As a result, these two technologies complement each other, and provide highly efficient air purification as well as odor removal. In 2015, North America dominated the global air purifiers market, followed by Asia-Pacific, Europe, South America and Middle East & Africa.