Japanese consumer electronic major Panasonic is aiming at a 20 per cent marketshare in home air purifiers segment over the next four years.
Besides, the company also has plans to manufacture some models of the airpurifiers locally at its Jhajjar plant in Haryana by 2018, which is expected to make it more competitive in the segment.
“This industry in next four years may be around Rs 1,500 crore and we are aiming to have around 20 per cent share of that,” Panasonic India GM, Water purifier & Air purifier, Syed Moonis Alvi told PTI.
He further added: “This fiscal, we are aiming to sell around 20,000 units and do a business of around Rs 20 crore”.
The air purifier industry is presently estimated at around Rs 150 crore and is growing at a CAGR of over 30 per cent in the last two years.
“The market would grow at a much bigger pace as it is now, because the product adaptability is increasing,” he added.
Panasonic presently has a line-up of six models and plans to take the count to 13 by the end of next month by adding seven more models, Alvi added.
On local manufacturing, he said: “Right now, we are importing but we would have our own production line in the next two years. From 2018, we would start manufacturing of some selected models”.
Panasonic had forayed into airpurifiers in 1962 and has experience of over 50 years in the segment.
“We have the technology available at our parent company and have an established sales channel in India,” said Alvi, adding that it is leveraging on Panasonic’s existing sales network for the sale of airpurifiers.
Apart from traditional retail channels, Panasonic would also use e-commerce and direct selling to customers through demonstration of its range of airpurifiers.
“This fiscal, we expect that 25 per cent of our sales would be from online channels and the contribution would go up because its plug-and-play feature that does not require any installations,” he added.