Market Forecast By Types (Room Air Conditioner (Window AC, Split AC), Ducted Air Conditioner (Ceiling Concealed AC, Unitary Packaged AC), Ductless Air Conditioner (Suspended AC, Floor Standing AC, Cassette AC), Centralized/ Applied Air Conditioner (AHU/FCU, Chiller, VRF & Other Components), By Applications (Residential, Healthcare, Commercial & Retail, Transportation & Infrastructure, Hospitality, & Others (Industrial, Oil & Gas, etc.), By Sales Channels (Online, Offline), By VRF (Compressor (Air Cooled, Water Cooled), Component (Indoor, Outdoor, Control System and Accessories), Heat Pump Systems (Ground-source, Air-source, Absorption), Heat Recovery Systems), By Regions (North Region, South Region, East Region, West Region) and Competitive Landscape
Product Code: ETC060824 | Publication Date: Aug 2023 | Updated Date: May 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 135 | No. of Figures: 53 | No. of Tables: 28 | |
India Air Conditioner Market registered a decline of -10.85% in value shipments in 2022 as compared to 2021 and a decrease of -11.63% CAGR in 2022 over a period of 2017. In Air Conditioner Market India is becoming less competitive as HHI index in 2022 was 6968 while in 2017 it was 5080. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Air Conditioner Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Air Conditioner Market in 2022 was 2.19 while in 2017 it was 14.58. Thailand, China, Japan, Rep. of Korea and Germany were among the top players of the market in 2022, where Thailand acquired the largest market share of 82.25% with a shipment value of 189.87 million USD in 2022 Thailand also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Air Conditioner Market. In 2017 China had the largest market share of 62.25% with the shipment value of 338.44 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
In the year 2021, Thailand was the largest exporter in terms of value, followed by China. It has registered a growth of 21.61% over previous year. While China registered a decline of -72.73% over previous year. While in 2017 China was the largest exporter followed by Thailand. In term of Herfindahl Index, which measures the competitiveness of countries exporting, India has Herfindahl index of 5080 in 2017 which signifies high concentration while in 2021 it registered a Herfindahl index of 5336 which signifies high concentration in the market
India Air Conditioner (AC) Market has been growing tremendously over the years, and it is expected to continue its growth trajectory in the upcoming years. Also, the market has registered various latest developments, including increasing demand for energy-efficient air conditioners due to rising concerns over environmental issues and increasing consumer awareness of carbon footprint. Many companies have started offering energy-efficient ACs that are less power-consuming. Moreover, the emergence of smart ACs, which can be controlled through smartphones along with the features like voice control and real-time monitoring is another significant development in this market. Furthermore, there has been an increasing trend towards hybrid solar-powered air conditioning systems during peak summers when electricity demand is at its highest.
India Air Conditioner market report thoroughly covers the market by types, applications, VRF, sales channel, and regions. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
India air conditioner market is growing at a significant rate over the past few years owing to the 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. Additionally, growth in the construction market and increasing government spending towards public infrastructure have further spurred the air conditioner market in the country.
According to 6Wresearch, India Air Conditioner Market revenue size is projected to grow at a CAGR of 16.1% during 2022-2028. India Air Conditioner market is highly competitive and fragmented with the presence of domestic, and international market participants. The market is broadly divided into four segments. Room air conditioners dominate the market across all segments due to the strengthening of the residential sector, the rising construction of new housing societies along with the establishment of SMEs. Additionally, growth in the number of construction projects across metro & tier-2 cities would further increase the demand for room air conditioners in the country in the coming years. In terms of market segment by room types, split air conditioners held the largest share both in revenue as well as in volume in the year 2021 due to the reduction in the price gap in comparison to the window air conditioners and the rising adoption in the residential and SME sectors.
The COVID-19 pandemic has negatively affected the India Air Conditioner (AC) Industry in terms of lower demand in the peak summer season, strict lockdowns disrupting the supply chain, and a rise in the prices of raw materials because several manufacturers' airlifts component such as controllers, compressors and other materials from China, Thailand, and Malaysia. However, companies are trying to balance the situation by offering various kinds of schemes such as EMI and seasonal discounts which are attracting the middle-class population of the country to purchase air conditioners.
The India Air Conditioner (AC) market is highly competitive, with the presence of both international and domestic players vying for the market share.
In terms of applications, the Residential segment has captured 54.6% of the market revenue in 2021. Residential accounted for maximum revenue share in 2020 owing to Increasing urbanisation has been driving the development of modern residential and commercial complexes creating huge demand for air-conditioners. In commercial application, modern retail, hospitality industry and healthcare sector have been witnessing strong growth, increasing the demand for air-conditioning in the country.
In terms of Types, Room air conditioners captured 63.9% of the market revenue in 2021. Room air conditioner dominated the overall air conditioner market revenues in India, majorly being driven the vast Indian population, urbanisation and increasing disposable income. The availability of wide product assortments within affordable ranges from prominent brands and attractive credit financing mechanisms along with government’s initiative to incentivise local manufacturing has been contributing to market growth in the country.
The report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1. Report Description |
2.2. Key Highlights of the Report |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. India Air Conditioner Market Overview |
3.1. India Air Conditioner Market Revenues, 2018-2028F |
3.2. India Air Conditioner Market - Industry Life Cycle |
3.3. India Air Conditioner Market - Value Chain Analysis |
3.4. India Air Conditioner Market - SWOT Analysis |
3.5. India Air Conditioner Market Revenue Share, By Types, 2021 & 2028F |
3.6. India Air Conditioner Market Revenue Share, By Applications, 2021 & 2028F |
3.7 India Air Conditioner Market Revenue Share, By Sales Channels, 2021 & 2028F |
3.8. India Air Conditioner Market Revenue Share, By Regions, 2021 & 2028F |
4. India Air Conditioner Market - Impact Analysis of COVID-19 |
5. India Air Conditioner Market Dynamics |
5.1. Impact Analysis |
5.2. Market Drivers |
5.3. Market Restraints |
6. India Air Conditioner Market Trends and Evolution |
7. India Room Air Conditioner Market Overview |
7.1. India Room Air Conditioner Market Revenues & Volume, 2018-2028F |
7.2. India Room Air Conditioner Market Revenue & Volume Share, By Types, 2021 & 2028F |
7.2.1 India Window Air Conditioner Market Revenues & Volume, 2018-2028F |
7.2.2 India Split Air Conditioner Market Revenues & Volume, 2018-2028F |
8. India Ducted Air Conditioner Market Overview |
8.1. India Ducted Air Conditioner Market Revenues & Volume, 2018-2028F |
8.2. India Ducted Air Conditioner Market Revenue & Volume Share, By Types, 2021 & 2028F |
8.2.1 India Ceiling Concealed Air Conditioner Market Revenues & Volume, 2018-2028F |
8.2.2 India Unitary Packaged Air Conditioner Market Revenues & Volume, 2018-2028F |
9. India Ductless Air Conditioner Market Overview |
9.1. India Ductless Air Conditioner Market Revenues & Volume, 2018-2028F |
9.2. India Ductless Air Conditioner Market Revenue & Volume Share, By Types, 2021 & 2028F |
9.2.1 India Suspended Air Conditioner Market Revenues & Volume, 2018-2028F |
9.2.2 India Floor Standing Air Conditioner Market Revenues & Volume, 2018-2028F |
9.2.3 India Cassette Air Conditioner Market Revenues & Volume, 2018-2028F |
10. India Centralized/ Applied Air Conditioner Market Overview |
10.1. India Centralized/ Applied Air Conditioner Market Revenues & Volume, 2018-2028F |
10.2. India Centralized/ Applied Air Conditioner Market Revenue & Volume Share, By Components, 2021 & 2028F |
10.2.1 India AHU/FCU Market Revenues and Volume, 2018-2028F |
10.2.2 India Chiller Market Revenues and Volume, 2018-2028F |
10.2.3 India VRF Market Revenues and Volume, 2018-2028F |
10.2.4 India Other Components Market Revenues, 2018-2028F |
11. India Air Conditioner Market Overview, By Applications |
11.1. India Air Conditioner Market Revenues, By Residential Application, 2018-2028F |
11.2. India Air Conditioner Market Revenues, By Healthcare Application, 2018-2028F |
11.3. India Air Conditioner Market Revenues, By Commercial & Retail Application, 2018-2028F |
11.4. India Air Conditioner Market Revenues, By Transportation & Infrastructure Application, 2018-2028F |
11.5. India Air Conditioner Market Revenues, By Hospitality Application, 2018-2028F |
11.7. India Air Conditioner Market Revenues, By Other Applications, 2018-2028F |
12. India Air Conditioner Market Overview, By Sales Channels |
12.1. India Air Conditioner Market Revenues, By Online Channel, 2018-2028F |
12.2. India Air Conditioner Market Revenues, By Offline Channel, 2018-2028F |
13. India Air Conditioner Market Overview, By VRF |
13.1 India VRF Air Conditioner Market Overview, By Compressor |
13.1.1 India VRF Air Conditioner Market Revenues, By Air-Cooled, 2018-2028F |
13.1.2 India VRF Air Conditioner Market Revenues, By Water-Cooled, 2018-2028F |
13.2 India VRF Air Conditioner Market Overview, By Components |
13.2.1 India VRF Air Conditioner Market Revenues, By Indoor Units, 2018-2028F |
13.2.2 India VRF Air Conditioner Market Revenues, By Outdoor Units, 2018-2028F |
13.2.3 India VRF Air Conditioner Market Revenues, By Control System and Accessories, 2018-2028F |
13.3 India VRF Air Conditioner Market Overview, By System Types |
13.3.1 India VRF Air Conditioner Market Revenues, By Heat Pump System, 2018-2028F |
13.3.1.1 India VRF Air Conditioner Heat Pump System Market Revenue Share, By Types, 2020 & 2028F |
13.3.1.2 India VRF Air Conditioner Market Revenues, By Ground-source, 2018-2028F |
13.3.1.3 India VRF Air Conditioner Market Revenues, By Air-source, 2018-2028F |
13.3.1.4 India VRF Air Conditioner Market Revenues, By Absorption, 2018-2028F |
13.3.1.5 India VRF Air Conditioner Market Revenues, By Heat Recovery System, 2018-2028F |
13.4 India VRF Air Conditioner Market Overview, By Applications |
13.4.1 India VRF Air Conditioner Market Revenues, By Residential Application, 2018-2028F |
13.4.2 India VRF Air Conditioner Market Revenues, By Industrial Application, 2018-2028F |
13.4.3 India VRF Air Conditioner Market Revenues, By Commercial Application, 2018-2028F |
13.5 India VRF Air Conditioner Market Overview, By Regions |
13.5.1 India VRF Air Conditioner Market Revenues, By Northern Region, 2018-2028F |
13.5.2 India VRF Air Conditioner Market Revenues, By Southern Region, 2018-2028F |
13.5.3 India VRF Air Conditioner Market Revenues, By Western Region, 2018-2028F |
13.5.4 India VRF Air Conditioner Market Revenues, By Eastern Region, 2018-2028F |
14. India Air Conditioner Market Overview, By Regions |
14.1. India Air Conditioner Market Revenues and Volume, By Northern Region, 2018-2028F |
14.2. India Air Conditioner Market Revenues and Volume, By Southern Region, 2018-2028F |
14.3. India Air Conditioner Market Revenues and Volume, By Eastern Region, 2018-2028F |
14.4. India Air Conditioner Market Revenues and Volume, By Western Region, 2018-2028F |
15. India Air Conditioner Market Import Vs. Domestic Manufacturing Analysis |
15.1. India Air Conditioner Market - Import Vs. Domestic Manufacturing Analysis |
15.2. India Domestic Manufactured Air Conditioner Market, 2018-2028F |
16. India Air Conditioner Market - Key Performance Indicators |
17. India Air Conditioner Market Overview, By Star Rating |
18. India Air Conditioner Market Overview, By Tonnage |
19. India Air Conditioner Market Overview, By BLDC Unit vs Normal AC Unit |
20. India Air Conditioner Market Overview, By Manufacturing VS Import Company Wise |
21. India Air Conditioner Market- Consumer Analysis |
22. India Air Conditioner Market Overview, By Top 10 States |
23. India Air Conditioner Market - Opportunity Assessment |
23.1. India Air Conditioner Market Opportunity Assessment, By Types, 2028F |
23.2. India Air Conditioner Market Opportunity Assessment, By Applications, 2028F |
23.3. India Air Conditioner Market Opportunity Assessment, By Sales Channels, 2028F |
23.4. India Air Conditioner Market Opportunity Assessment, By Regions, 2028F |
24. India Air Conditioner Market Competitive Landscape |
24.1. India Air Conditioner Market Volume Share, By Companies, 2021 |
24.2. India Air Cooler Market Competitive Benchmarking, By Technical Parameters |
24.3. India Air Cooler Market Competitive Benchmarking, By Operating Parameters |
25. Company Profiles |
25.1. Voltas Limited |
25.2. Daikin Airconditioning India Pvt. Ltd. |
25.3. Havells India Limited (Lloyd) |
25.4. Blue Star Limited |
25.5. Panasonic Pvt. Ltd. |
25.6. Carrier Midea India Pvt. Ltd. |
25.7. Fujitsu Genera India Pvt. Ltd. |
25.8. Mitsubishi Electric India Pvt. Ltd. |
25.9. Haier Appliances India Pvt. Ltd. |
25.10. Hitachi India Pvt. Ltd. |
25.11. LG Electronics India Pvt. Ltd. |
25.12. Samsung India Electronics Pvt. Ltd. |
26. Key Strategic Recommendations |
27. Disclaimer |
List of Figures |
1. Czech Republic Semiconductor Market Revenues and Volume, 2018-2028F ($ Million, Metric Tons) |
2. Czech Republic Semiconductor Market Revenue Share, By Components, 2021 & 2028F |
3. Czech Republic Semiconductor Market Revenue Share, By Applications, 2021 & 2028F |
4. Czech Republic Internet Penetration, 2017-2020 (% of Population) |
5. Czech Republic Automotive Sales, By Type, 2017-2020 |
6. Czech Republic Total Automotive Sales, 2017-2020 |
7. IoT Semiconductor Stack Diagram |
8. Silicon Metal Prices, 2017-2020 (US Cent /Pound) |
9. Czech Republic Memory Devices Market Revenues, 2018-2028F ($ Million) |
10. Czech Republic Logic Devices Market Revenues, 2018-2028F ($ Million) |
11. Czech Republic Analog IC Market Revenues, 2018-2028F ($ Million) |
12. Czech Republic MPU Market Revenues, 2018-2028F ($ Million) |
13. Czech Republic Discrete Power Devices Market Revenues, 2018-2028F ($ Million) |
14. Czech Republic MCU Market Revenues, 2018-2028F ($ Million) |
15. Czech Republic Others Component Market Revenues, 2018-2028F ($ Million) |
16. Czech Republic Networking & Communications Semiconductor Market Revenues, 2018-2028F ($ Million) |
17. Czech Republic Data Processing Semiconductor Market Revenues, 2018-2028F ($ Million) |
18. Czech Republic Industrial Semiconductor Market Revenues, 2018-2028F ($ Million) |
19. Czech Republic Consumer Electronics Semiconductor Market Revenues, 2018-2028F ($ Million) |
20. Czech Republic Automotive Semiconductor Market Revenues, 2018-2028F ($ Million) |
21. Czech Republic Government Market Revenues, 2018-2028F ($ Million) |
22. Czech Republic Semiconductor Import, 2016-2020 ($) |
23. Czech Republic Semiconductor Export, 2016-2020 ($) |
24. Czech Republic Manufacturing Value Added, 2015-2020 ($ Billion) |
25. Czech Republic Manufacturing Value Added Annual Growth Rate, 2015-2020 (in %) |
26. Czech Republic Annual Vehicle Sales, By Type 2015-2020 (Units) |
27. Czech Republic Annual Vehicle Sales Growth Rate, 2015-2020 (in %) |
28. Czech Republic ICT Investment, By Type 2015-2020 ($ Billion) |
29. Czech Republic ICT Equipment Investment Growth Rate, 2015-2020 (in %) |
30. Czech Republic Semiconductor Market Opportunity Assessment, By Components, 2028F |
31. Czech Republic Semiconductor Market Opportunity Assessment, By Applications, 2028F |
32. Czech Republic Semiconductor Market Company Rankings, By Companies, 2021 |
Market Forecast By Types (Window AC, Split AC, Ceiling Concealed, Packaged AC, Floor Standing, Cassette Type and Centralized (VRF, AHU/FCU, Condensing Unit, Chiller, and Others)), By Applications (Residential, Commercial & Retail, Hospitality, Oil & Gas, Healthcare and Others), By Regions (Eastern, Western, Central and Southern) and Competitive Landscape
Product Code: ETC060824 | Publication Date: May 2021 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 101 | No. of Figures: 37 | No. of Tables: 14 |
India Air Conditioner Market report comprehensively covers the market by types, applications and regions. The market report provides an unbiased and detailed analysis of the on-going trends, opportunities, high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
India Air Conditioner Market Synopsis
India Air Conditioner Market witnessed a significant growth rate over the past few years owing to the 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. Additionally, the growth in the construction market and increasing government spending towards public infrastructure would further spur the air conditioner market in the country in the coming years.
The COVID-19 pandemic has negatively affected the air conditioners industry in terms of lower demand in the peak summer season, strict lockdowns disrupting the supply chain, and rise in the prices of raw material as several manufacturers airlift components such as controllers, compressors, and other materials from China, Thailand, and Malaysia. However, companies are trying to balance the situation by offering various kinds of schemes such as EMI and seasonal discounts which are attracting the middle-class population of the country to purchase air conditioners.
According to 6Wresearch, India Air Conditioner Market size is projected to grow at CAGR of 10.7% during 2021-27. The air conditioner market in India is highly competitive and fragmented with the presence of domestic, international, and unorganized market participants. The market is broadly divided into four segments. Room air conditioners dominate the AC market share across all the segments due to the strengthening of the residential sector, rising construction of new housing societies along with the establishment of SMEs. Additionally, growth in the number of construction projects across metro & tier-2 cities would further increase the demand for room air conditioners in the country in the coming years. In terms of market segment by room types, the split ACs held the largest share within the room air conditioner market in both in the revenue as well as in the volume share in the year 2020 due to the changing preferences of the consumers towards adopting the energy-efficient products and their rising adoption in residential and SME segments.
Market Analysis by Type
Based on types, room air conditioners captured the largest market revenue share in 2020, owing to the increasing income levels, rising standard of living and urbanization. The growth in the room air conditioner market is majorly driven by the split ACs which held the majority share due to the changing preferences of the consumers towards adopting the energy-efficient products and their rising adoption of these type of ACs in residential and SME segments and the commercial spaces.
Market Analysis by Applications
Based on the applications, the residential sector accounted for the highest revenue share in the India air conditioner market registering more than 50% in the overall market revenues in 2020, followed by commercial and retail sectors. The increasing number of residential complexes and business parks in tier 1 and tier 2 cities, changing standard of living, rising rural development along with upcoming government-funded residential projects-Housing for All, Pradhan Mantri Awas Yojana (PMAY) and others would fuel the demand for air conditioners in the country over the coming years.
Key Attractiveness of the Report
Key Highlights of the Report
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
Frequently Asked Questions About the Market Study:
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