Innova Research Forecast a Pause in the Chinese Air Purifier Market Boom
While the residential air purifier shipments to the local Chinese market skyrocketed to 1.5 million driven by the outbreak of the nationwide haze in the past few years, the Chinese market revenue is forecast to decline by 11.1% in 2015. However, the growth is forecast to resume in 2016 fueled by the increasing acceptance of air purifier as an essential household appliance by Chinese consumers largely from mid-class households.
Shanghai, China, October 22, 2015 --(PR.com)-- Being one of the largest air purifier manufacturing bases in the world, China remained as an insignificant market for air purifiers until 2012, when the residential air purifier shipments to the local Chinese market skyrocketed to 1.5 million driven by the outbreak of the nationwide haze. The tremendous growth continued as haze outbreaks worsened in 2013 and 2014, especially in mega cities such as Beijing and Shanghai. However, according to “The Chinese Market for Residential Air Purifiers – 2015 Edition,” a market research report recently published by Innova Research, the Chinese residential air purifier market revenue is forecast to decline by 11.1% in 2015, indicating a pause in the boom of the Chinese residential air purifier market.
As the report point out, the air quality problem in China led to the recent boom of the Chinese residential air purifier market. Air purifier is not a “must have” home appliance in China although Chinese households buy air purifiers to maintain the indoor environment with the surrounding haze. Not surprisingly, the consumer’s decisions on buying air purifiers are still very much tethered to the air quality. On the other hand, the number of haze days is expected to decline in the next few years. This is mainly due the slowing Chinese economy which will effectively reduce the emission from industries such as iron and steel, cement, coal fired power plants. Moreover, air quality in China is also improved by continuous government efforts to cut back industry capacity and to strengthen the enforcement of relevant environmental regulations and laws. As a result, the number of severe haze days in Beijing, the largest city market in terms of air purifier shipments, declined by 40% in the 1st half of 2015. This leads to the projected decline in Chinese air purifier market.
Despite the forecast decline in 2015, Innova Research is positive on the longer term growth trend for the Chinese residential air purifier market. The growth is forecast to resume in 2016 fueled by the increasing acceptance of air purifier as an essential household appliance by Chinese consumers largely from mid-class households. Richard Jun Li, Vice President of Innova Research commented: “The role transformation of air purifiers to a “health electronic device” is gradually happening in China. This is effectively enlarging the customer base for residential air purifiers and will support the growth of the Chinese air purifier market in the next five years.”
About Innova Research
Innova Research is a market research and consulting firm focusing on emerging technologies. With the combination of both technology and market research experts, we offer world-class market and technology intelligences. Driven by primary research, Innova Research’s market intelligence reports and consulting service help our clients to make right strategic and investment decisions in the fast-changing technology world. Visit www.innovaresearchinc.com for more information.
As the report point out, the air quality problem in China led to the recent boom of the Chinese residential air purifier market. Air purifier is not a “must have” home appliance in China although Chinese households buy air purifiers to maintain the indoor environment with the surrounding haze. Not surprisingly, the consumer’s decisions on buying air purifiers are still very much tethered to the air quality. On the other hand, the number of haze days is expected to decline in the next few years. This is mainly due the slowing Chinese economy which will effectively reduce the emission from industries such as iron and steel, cement, coal fired power plants. Moreover, air quality in China is also improved by continuous government efforts to cut back industry capacity and to strengthen the enforcement of relevant environmental regulations and laws. As a result, the number of severe haze days in Beijing, the largest city market in terms of air purifier shipments, declined by 40% in the 1st half of 2015. This leads to the projected decline in Chinese air purifier market.
Despite the forecast decline in 2015, Innova Research is positive on the longer term growth trend for the Chinese residential air purifier market. The growth is forecast to resume in 2016 fueled by the increasing acceptance of air purifier as an essential household appliance by Chinese consumers largely from mid-class households. Richard Jun Li, Vice President of Innova Research commented: “The role transformation of air purifiers to a “health electronic device” is gradually happening in China. This is effectively enlarging the customer base for residential air purifiers and will support the growth of the Chinese air purifier market in the next five years.”
About Innova Research
Innova Research is a market research and consulting firm focusing on emerging technologies. With the combination of both technology and market research experts, we offer world-class market and technology intelligences. Driven by primary research, Innova Research’s market intelligence reports and consulting service help our clients to make right strategic and investment decisions in the fast-changing technology world. Visit www.innovaresearchinc.com for more information.
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Richard Jun Li
+862161724836
www.innovaresearchinc.com
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