India’s air conditioner market is one of the fastest growing markets in Asia-Pacific region. Rising middle class disposable income, increasing urban agglomeration, dwelling of new infrastructures and launch of advanced featured air conditioners have led for the growth of air conditioners market in India. In the country, where penetration level is still low is now witnessing optimistic growth from Tier II and Tier III cities.
According to 6Wresearch, India Air Conditioner Market is projected to grow at a CAGR of 10.2% during 2015-21. India’s Air Conditioner Market is highly fragmented where large number of domestic and international players are providing their products in the country. Residential and commercial verticals are the major revenue contributing verticals in the overall market. According to Government of India’s, “Vision 2022”, wherein more than 20 million housing units in urban areas and over 40 million housing units in rural areas are expected to be built, would provide necessary boost to the demand for air conditioning units in the coming years.
According to Avishrant Mani, Senior Research Analyst, Research and Consulting, 6Wresearch, “India is witnessing significant development in the areas of retail and government & transportation applications. Need for cooling solutions at the retail stores, multiplexes, airports, metros and shopping malls would further stimulate the market.
“Moreover, increasing number of foreign and local tourists have driven the construction of new hotels across the country, which deploy air conditioning units on a larger scale. Also, establishment of SEZs and business parks have primarily created the demand for centralized, ducted and packaged air conditioners, “Avishrant further added.
According to Sathi Paul, Research Associate, Research and Consulting, 6Wresearch, “Northern and southern regions are the key revenue generating regions in the air conditioning market. Hot and humid climatic conditions in these regions have led for their growth.
In room air conditioner segment, split air conditioners have dominated the market, mainly due to declining prices, higher energy efficiency, ease of installation and changing building infrastructures. In the forecast period, split air conditioner segment would continue to generate majority of the market revenues in room air conditioner segment,”Sathi concluded.
Some of the companies in India’s air conditioner market include – Blue Star, Daikin, O General, LG, Voltas, Samsung, Hitachi, Carrier, and Panasonic.
“India Air Conditioner Market (2015-2021)” provides in depth analysis with 51 figures and 23 tables covered in 147 pages. The report estimates and forecast overall India’s Air Conditioner market by revenue, type segments (window ac, split ac, floor standing, cassette ac and central air conditioner) and verticals such as residential, retail, government & transportation, hospitality, commercial offices and others. The study highlights the key potential areas and provides insights on competitive landscape, company profiles, market drivers and restraints.