Burnaby, Canada, May 22, 2015 --(PR.com
)-- China is the most populous and the fastest growing economy across the globe. In addition, China is also the manufacturing base of all major multinational corporations due to abundant availability of labor at low cost, easy availability of raw material, and industry friendly government. Due to continuous depletion of the ozone layer, growing number of industrial units and increasing vehicle fleet size in the country, there has been rise in level of air pollution because of which people are exposed to high risk of various respiratory and cardiovascular diseases. Rapidly increasing health consciousness among consumers in the country along with increasing per capita purchasing power is consequently boosting the demand for air purifiers in China.
According to recently published report by TechSci Research “China Air Purifiers Market Forecast & Opportunities, 2020,” the country’s air purifiers market is projected to register a CAGR of more than 34% during 2015-20. Chinese air purifiers market is dominated by HEPA based air purifiers, and their dominance is expected to continue over the coming five years. Patented technologies such as Ultra-efficient Formaldehyde Catalytic Oxidation (UFCO), Plasmacluster technology, Nanoe G, HEPA Silent technology and Photo-Catalysis are also expected to gain stronger foothold in the Chinese market in the coming years. Among various end-user segments, the demand for air purifiers is anticipated to grow from residential sector on the heels of growing income levels, investments, and sentience about pollution related diseases. Philips is the leading company in China air purifiers market, which is expected to continue its dominance over the market during the forecast period.
“Instead of being a luxury product, air purifiers are being viewed as a necessity in China due to rising air pollution across cities and towns. Residential as well commercial users are increasingly adopting air purifiers for maintaining a cleaner, less-polluted environment. This is increasing the proliferation of air purifiers across China and making air purifier a widely-needed consumer product in the country,” said Mr. Karan Chechi, Research Director with TechSci Research, a global management consulting firm.
“China Air Purifiers Market Forecast & Opportunities, 2020” has evaluated the future growth potential of air purifiers market in China and provides statistics and information on market structure, size, trends, etc. The report includes air purifier market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities prevailing in China’s air purifiers market.