Betting on the fast-growing air purifier segment in the backdrop of alarming pollution levels in metros, Shapoorji Pallonji Group firm Eureka Forbes is looking at a four-fold jump in sales to around Rs 250 crore in the next four years.
Air purifiers has a niche market in India but most of the major companies like Philips, LG, Blueair, Panasonic have forayed into the segment.
"In another three to four years, it (air purifier) would be at least Rs 500 crore market. It is developing gradually. The present domestic market is of around Rs 100-120 crore," Shashank Sinha, Senior General Manager Eureka Forbes told PTI.
Commenting on the company's position in the segment, he said: "Eureka Forbes has over 50 per cent market share and because of the expertise and strength, which we have, I anticipate that we would retain the market leadership."
He further said that the company, which has been in air purification business for close to 20 years, would retain its top position for the next 4 years.
"We have been measuring the daily pollution of 18 cities from last 17 years... We used this data for the filters required for our range of air purifiers," he said.
In order to be ahead of the competition, he said, Eureka Forbes is also working to fully Indianise the manufacturing process of air-purifiers.
"In maximum two years from now, you would see our products completely made in India including the components," he said, adding that presently it imports 50 per cent of the components.
Eureka Forbes is selling its air purifier at a price ranging between Rs 4,000 for cars and up to Rs 40,000 for larger rooms and houses.
The company sells purifier under Aeroguard brand through physical stores and e-commerce route. Apart from that, it has also launched a specialised service brand Dr Aeroguard, under which it provides customised air purification services.
It is also exporting air purifiers to some European nations through its Swiss subsidiary, Lux International.
