On account of increasing per capita |
the Indian air conditioners market is |
income and growing middle class |
projected to grow at a CAGR of over 10 % |
population, the consumer outlook towards |
during 2015-20. Accounting for a lion’ s |
air conditioners has changed over the last |
share of the air conditioners market, split |
decade in India. The country experiences |
air conditioners segment was the highest |
hot and humid summers for 4-6 months, |
revenue generator, followed by VRFs and |
on account of which majority of air |
window air conditioners in 2014. The |
conditioner sales take place during that |
market share of window air conditioners |
period. Introduction of new technologies |
has been declining over the last few years |
resulting in reduction of prices, moderate |
on account of decreasing price gap |
in real estate sector, rising per capita |
compared to split ACs, due to which many |
income and extreme climatic conditions in |
leading companies such as Samsung and |
most parts of the country are some of the |
LG have exited from the windows air |
major factors that are boosting the sales of |
conditioning segment while other major |
air conditioners in the country. In addition, |
companies like Voltas, Daikin, Blue Star, |
growing infrastructure developments |
etc., have lowered the production of |
coupled with increasing activities in |
window air conditioners in the country. |
industrial and commercial sectors are |
Northern India generates the highest |
augmenting the demand for commercial |
revenue in the country’ s air conditioners |
air conditioning systems in India. |
market, followed by Southern and Western |
According to“ India Air Conditioners |
regions. |
Market Forecast & Opportunities, 2020”, | |
Rising per capita income, changing |
projected to grow at a CAGR of over 10 % |
climatic conditions and consumer lifestyle |
during 2015-20. The Indian air conditioning |
to drive air conditioners sales in India |
market is divided into two major segments: |
through 2020. With a population of over a |
commercial air conditioners( VRF, Chillers |
billion, India is one of the major developing |
& Others) and Room Air Conditioners( Split |
countries with huge middle class |
and Window air conditioners), among |
population base and rising per capita |
which, residential air conditioners segment |
income. In comparison to other major |
witnessed a higher revenue share in 2014. |
developing countries, the market |
This domination of room air conditioners |
penetration of air conditioners is very low |
segment is expected to continue over the |
in India, which offers a huge opportunity to |
next five years. Currently, the market for air |
leading air conditioner players. Some of the |
conditioners in India is dominated by |
major factors contributing to the increasing |
Voltas, followed by LG, Daikin and |
demand for air conditioners in the cou ntry |
Samsung. |
include hot climatic conditions prevailing |
“ On account of rising per capita income, |
through most part of the year, expanding |
changing consumer lifestyle and the |
middle class, growing construction sector |
country experiencing extreme hot and |
and increasing per capita income. |
humid climate for most part of a year, the |
Presently, the northern region accounts for |
demand for air conditioners in India is |
the largest share of the air conditioners |
expected to rise during the forecast period. |
market in India, followed by the southern |
Implementation of minimum energy |
region. With all major global players having |
efficiency performance standards by BEE |
set up their production facilities in India, |
and the need for cost effective air |
the country is also emerging as a major |
conditioning solutions is forecast to drive |
production hub for the SAARC region. |
demand for energy efficient air conditioners |
According to a recently published TechSci |
in India through 2020.” said Mr. Karan |
Research report“ India Air Conditioners |
Chechi, Research Director with TechSci |
Market Forecast and Opportunities, 2020”, |
Research, a research based global |
the country’ s air conditioners market is |
management consulting firm. |