Latest 2023 Development of the India Air Conditioner Market

India Air Conditioner Market is rapidly growing with increasing demand for both residential and commercial use. Some of the latest developments in the air conditioning market include smart and energy-efficient ACs as companies are launching air conditioners with smart features such as remote control through smartphones and energy-saving modes. Inverter air conditioners are becoming increasingly popular in India due to their energy-efficiency features. The growth of the commercial AC market increased the demand for air-conditioned hotels, offices, and malls. Companies are expanding their distribution networks to reach a wide customer base. Moreover, companies are focusing on environmentally-friendly refrigerants and using eco-friendly materials in their products to reduce their carbon footprint.

The government has offered various incentives for the purchase of energy-efficient air conditioners, which has boosted the overall growth of India Air Conditioner Industry. With the growing concern about environmental issues and energy conservation, consumers are increasingly choosing energy-efficient air conditioners which in turn propels the demand for air conditioners in India. As India's economy continues to grow, consumers have more disposable income to spend on air conditioners which drives the market growth.

India Air Conditioner (AC) Market Synopsis

India air conditioner (ac) Market report thoroughly covers the Indian air conditioner market by types, applications, and regions. The India air conditioner market outlook report provides an unbiased and detailed analysis of the India air conditioner market trends, opportunities/high growth areas, and market drivers, which would help the stakeholders device and align market strategies according to the current and future market dynamics.

India Air Conditioner Market is anticipated to project substantial growth during the upcoming period on account of growing retail and hospitality sectors, rising construction activities across airports, metros, and new housing societies along with the increasing establishment of SMEs and commercial hubs fueled by the growth of the India ac market. Additionally, growth in the construction market and increasing government spending on public infrastructure would further enhance India Air Conditioner Market Share forecast revenues over the coming years. Though the prices of air conditioners are increasing in India, however, companies are offering various kinds of schemes such as EMI and seasonal discounts which are attracting a middle-class population of the country.

The rising level of humidity and unfavourable environmental conditions are driving the India Air Conditioner Market Growth. The growing tourism and hospitality sector coupled with the strengthening of the IT and finance sector is adding to the development of the market. However, the high maintenance and initial cost of air conditioners are restraining factors in the growth of the market. 

According to 6Wresearch, India air conditioner market size is projected to grow at a CAGR of 12.2% during 2018-2024. India's air conditioner market is highly competitive and fragmented with the presence of domestic, international, and unorganized market participants. Surging disposable income especially among the middle class is adding to the development of the Air Conditioner Market in India in 2018. 

Surging disposable income coupled with increasing temperature is driving the development of the market. Moreover, the air conditioner is now being accepted as a necessity instead of a luxury which is further enhancing the sale of air conditioners. Changing preferences of consumers along with the growing adoption of energy-efficient sources is proliferating the air conditioner market share. Increasing innovation of products by the manufacturers along with rising development of technology is providing lucrative opportunities for the growth of the market. The rising number of construction projects coupled with the expansion of the metro and establishment of smart buildings triggers the potential growth of the Air Conditioner Market in India. The surging population especially in urban areas and improvement in the standard of living is one of the key factors contributing to the development of the industry. 

AC Market in India is estimated to gain momentum in the coming timeframe backed by the rising installation in the growing industrial landscape. Not only, the residential and commercial sector but the retail sector is also gaining traction in the market owing to the increase in the expansion of supermarkets and hypermarkets stores establishment with the growing urban population in the country simultaneously the demand for air conditioners is also growing especially in summer season and is estimated to leave a positive impact over the India air conditioner market growth in the years ahead.

Market Analysis by Types

India AC market is broadly divided into seven segments, within that split air conditioner segment dominates the market and would continue to lead throughout the forecast period. The demand for these air conditioners is primarily growing in the residential market. The VRF/VRV segment is also gaining popularity in the market. In India, the Northern region has captured a major Air conditioner market share in India followed by the Southern and Western regions.

Market Analysis by Application

On the basis of application, the residential segment is expected to account for the highest growth during the upcoming years on account of increasing disposable income and the rising level of temperature and humidity driving the India Air Conditioner Market growth.

Key players in the Market

Some of the key players in the India AC Market are:

• Voltas Limited
• Blue Star Limited 
• LG Electronics India Pvt. Ltd. 
• Panasonic India Private Limited
• Samsung India Electronics Private Limited
• Haier Appliances India Pvt Ltd. 

Key Highlights of the Report:

• India Air Conditioner Market Overview
• India Air Conditioner Market Outlook
• Historical & Forecast data of India Ducted AC Market Revenue & Volume for the Period, 2014-2024F.
• Historical & Forecast data of India Package AC Market Revenue & Volume for the Period, 2014-2024F.
• India Air Conditioner Market Trends and Developments
• India Air Conditioner Market Share, By Players 
• India Air Conditioner Market Overview on Competitive Landscape
• Company Profiles.
• Historical & Forecast data of India Floor Standing AC Market Revenue & Volume for the Period, 2014-2024F.
• Historical & Forecast data of India Cassette AC Market Revenue & Volume for the Period, 2014-2024F.
• Historical & Forecast data of Global Air Conditioner Market for the Period, 2014-2024F.
• India Air Conditioner Market Size and India Air Conditioner Market Forecast of Revenues for the Period, 2014-2024F.
• Historical & Forecast data of India Window AC Market Revenue & Volume for the Period, 2014-2024F.
• Historical & Forecast data of India Split AC Market Revenue & Volume for the Period, 2014-2024F.
• Historical & Forecast data of India Centralized AC Market Revenue for the Period, 2014-2024F.
• Historical & Forecast data of India Air Conditioner Market Revenue, By Applications for the period 2014-2024F.
• Historical & Forecast data of India Air Conditioner Market Revenue, By Regions, for the period 2014-2024F.
• India Air Conditioner Market Drivers and Restraints.
• Strategic Recommendations.

Markets Covered:

The India Air Conditioner Market report provides a detailed analysis of the following market segments:

By Types:

• Window AC
• Split AC
• Floor Standing
• Cassette AC
• Packaged
• Ducted / Ceiling Concealed
• Centralized
• Chiller
• VRF/VRV
• AHU/FCU

By Applications:

• Residential
• Commercial Buildings & Retail
• Government & Transportation
• Hospitality
• Others (Educational Building, Healthcare, Telecom, Manufacturing units, etc.)

By Regions:

• Northern
• Eastern
• Western
• Southern

Frequently Asked Questions About the Market Study: FAQs

1. How much growth is anticipated in the overall India Air Conditioner (AC) Market during 2018-2024?

India Air Conditioner (AC) Market is projected to grow at a CAGR of 12.2% during 2018-2024. 

2. Which segment based on type is anticipated to dominate in the overall India Air conditioner Market during the upcoming years?

The Split Air Conditioner segment is anticipated to dominate the overall India Air Conditioner Market. 

3. Which region has captured the overall India Air Conditioner Market Growth?

The northern region has captured the major share of India AC Market followed by the southern and western regions. 

4. What are the popular factors propelling the India Air Conditioner Market Growth?

Rising Construction activities across airports and metro, the increasing establishment of SMEs, and increasing spending on public infrastructure are adding to the growth of the market. 

5. Which segment is gaining popularity in the overall India AC Market?

By Type, VRF/VRV segment is gaining popularity in the overall India AC Market.