Global Market Research Company US India air coolers market Forecast and Opportunitie | страница 12

Industry Brief
According to TechSci Research report, “India Air Coolers Market By Organized vs Unorganized, Competition, Forecast & Opportunities, 2024”, India
air coolers market is predicted to grow at a CAGR of over 22% during 2019-2024 on account of Improving living standards and rising temperature
level. Moreover, launch of trendy and innovative air coolers such as air coolers with air purification technology, wall mounted air coolers, etc. is further
anticipated to boost their demand in India over the next five years. Additionally, since air coolers are energy-efficient, low-cost and environmentally
friendly alternative to air conditioners, they are anticipated to register strong growth during the forecast period.
"India Air Coolers Market"
In terms of type, India air coolers market is categorized into residential air coolers and industrial & commercial air coolers. In 2018, residential air
coolers segment accounted for the majority share in the market and is anticipated to maintain its dominance during forecast period as well on account
of rising disposable income of households coupled with their various benefits such as low running costs, portability, less electricity consumption, etc. In
terms of region, India air coolers market is categorized into north, south, west and east, of which north India dominated the market in 2018 and is
expected to continue dominating during forecast period as well. The dominance of the region is led by rising urbanization and soaring temperature in
this part of the country. Moreover, commercial sector is growing north India, which is further contributing to the growing demand for air coolers in this
region.
“India air coolers market size is predicted to grow at a double digit CAGR over the course of next five years. The growth of the market can be
attributed to technological advancements coupled with government initiatives aimed at increasing number of electrified villages, that would fuel
demand for air coolers in rural part of the country. Additionally, rising popularity of online sales channel is further likely to aid the growth of India air
coolers market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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