High Demand from Residential Sector to Drive India Air Conditioners Market at 17% through 2023
Soaring temperature, rising
technological innovations and increasing disposable income of the population to
drive India air conditioners market through 2023
According to a TechSci
Research report, “India Air Conditioners Market By Product Type, By End
Use Sector, Competition Forecast & Opportunities, 2013 – 2023”, India air conditioners market is
projected to register a CAGR of over 17% during 2018 - 2023. Growth in the
country’s air conditioners market is anticipated on account of rising demand
for air conditioners from residential as well as industrial sectors, extreme
climatic changes and emergence of latest technologies in air conditioners, such
as inverter technology, smart air conditioners, etc.. Moreover, increasing
disposable income along with rapidly growing demand from Tier II & III cities
is further fuelling growth in India air conditioners market. Voltas Limited, Daikin
Airconditioning India Pvt. Ltd., Blue Star Ltd., LG Electronics India Pvt. Ltd.,
etc., are some of the leading players in the India air
conditioners market.
Browse 13 market data Tables and 43 Figures
spread through 109 Pages and an in-depth TOC on "India Air Conditioners
Market"
https://www.techsciresearch.com/report/india-air-conditioners-market/3319.html
Among regions, North dominated India air
conditioners market with value shares of over 38%, in 2017. This region is expected
to generate significant demand for air conditioners and is anticipated to remain
dominant through 2023 as well owing to rising construction investments,
increasing urbanization and growing commercial sector across the region. On the
basis of types, India air
conditioners market can be broadly categorized into Light Commercial Air
Conditioners, Ductable Splits, Chillers, VRFs and Others. Light commercial air
conditioners dominated the market in 2017 as they are relatively less expensive
than other types of air conditioners.
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“Rising
demand for energy efficient air conditioners has pushed manufacturers to focus
on product innovation in order to fulfil the need for energy saving. For
instance, LG has introduced window inverter air conditioner which is equipped
with dual inverter technology and consumes much lesser energy than a
conventional air conditioner. Moreover, booming e-commerce industry has enabled
manufacturers to reach their customers easily even in farthest of regions and widen
their distribution reach, which is further expected to positively influence
India air conditioners market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India Air
Conditioners Market By Product Type, By End Use Sector,
Competition Forecast & Opportunities, 2013 – 2023” has
evaluated the future growth potential of India air conditioners market and
provides statistics and information on market structure, size, share and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision makers to take sound investment decision. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the India air conditioners market.
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