Panasonic India to Invest in the Local Manufacturing of Air Purifiers

India: Consumer electronics & Home appliances company Panasonic India is investing in the manufacturing of air purifiers in the country. Presently, the company is importing air purifiers from its Hong Kong-based unit, but seeing the growth potential and rapidly growing Indian market the company is considering the local manufacturing of air purifiers in India. Further, the company has 15 manufacturing units in India and keeping in mind the sale of 5,000 air purifiers last year, the company is aiming to sell around 20,000 units. 

Panasonic, is the number three player in the air purifier category, and the company is expecting 10 times growth in the coming years as the consumer durables division of Panasonic is expected to generate a revenue of around USD738.46 million and expecting that metros and tier-I cities will contribute around 65-70% of the company's sales. Panasonic India, spends around 10% of its total revenue on marketing for consumer durables and electronics and has around 290 exclusive outlets in the country across the major markets and it adds around 30-35 outlets each year.

According to TechSci Research, Panasonic’s decision is seen as a part of business growth strategy. Panasonic has attained massive success and it is amongst the leading air purifier brands in India owing to its well synchronized and robust sales and distribution network. Rising commercial infrastructural developments in the country, increasing vehicle sales, and deteriorating air quality are projected to drive air purifiers market in India over the next five years. The company decides to expand its business by foraying into local manufacturing to meet the rising demand and is also targeting to increase the revenue share in the India air purifier market.

According to a recent report published by TechSci Research, “India Air Purifiers Market Forecast & Opportunities, 2011-2021”, the market for air purifiers in India is projected to reach US $ 209 million by 2021. Residential as well as commercial sectors are anticipated to generate high demand for air purifiers in India during the forecast period, due to rising disposable income levels of consumers and increasing awareness among people about benefits of using air purifiers. HEPA combined with Activated Carbon based air purifiers dominated air purifiers market in India on account of their high efficiency in removing particulate matter, odor and other harmful gases. Adoption of HEPA based air purifiers in the country is growing considerably in households, embassies, healthcare institutes, and other commercial spaces, and this trend is expected to continue over the next five years.