India Air Conditioner Market to Surpass USD 6,054.96 Million by 2027
The rising trend for moisture resistance and the increasing
number of industries are some of the factors influencing the demand for air
conditioner market throughout the forecast period, 2027F.
According to TechSci Research report, “India Air Conditioner
Market
- Industry Size, Share, Trends, Competition, Opportunities and Forecast, 2017-2027F”, the India air
conditioner market is expected to project impressive growth of USD6,054.96
million in the forecast period, 2023F-2027F, with an impressive CAGR of 6.08%
on account of rapidly surging demand from the residential industry as well as
the growing commercial sector in India.
The air conditioner
market is being supported by significant factors such as an increasing
middle-class population, infrastructure development, inverter technology-based
air conditioners, soaring temperatures, increasing construction investment,
rising urbanization, and growing demand for residential and commercial spaces.
Moreover, growing
technological advancements such as inverter technology, smart air conditioners,
etc., rising availability of energy-efficient air conditioners on the back of
stringent government norms, modern trade, increasing demand from Tier II and
III cities, growing online sales of air conditioners, and the accessible
financing and emerging new payment modes that are also aiding in the growth of
the India air conditioner market in the next five years.
Browse over 27
market data Figures spread through 70 Pages and an in-depth TOC on
"India Air Conditioner Market"
https://www.techsciresearch.com/report/india-air-conditioners-market/3319.html
The India air
conditioner market is segmented on the basis of product type, end use sector,
regional distribution and competitional landscape.
Based on product type,
the market is further fragmented into Splits, Windows, VRF, and Chillers.
Splits sub segment is expected to register largest revenue shares of the market
and dominate the market segment in the upcoming five years account of its
various advantages like an easier installation process, greater energy
efficiency, blend with home décor, quiet operations. These are some of the
major factors influencing the growth of split air conditioner within India air
conditioner market.
Based on end use
sector, the market is segmented into Residential, Commercial, and Industrial.
The residential sector is one of the major contributors to the growth of air
conditioner market in India, as the use of air conditioners within the
household sector is continuously increasing with the growing standard of
living, as well as the availability of freezing stores are also increasing in
demand for air conditioners within the commercial sector.
Key market
players in the Indian Air Conditioner Market include:
·
Voltas Limited
·
Daikin Airconditioning India Pvt. Ltd.
·
LG Electronics India Pvt. Ltd.
·
Blue Star Limited
·
Johnson Controls-Hitachi Air Conditioning India
Limited
·
Panasonic India Private Limited
·
Samsung India Electronics Private Limited
·
Haier Appliances India Pvt. Ltd`
·
Havells India Pvt. Ltd
·
Carrier Midea India Private Limited
With the increasing competition in the India air conditioners
market, most major brands are focused on producing new models with the latest
features. Environment-friendliness, scent emission, and enhanced energy
efficiency ratio (EER) are the current features driving the public wild about
air conditioners. Most of the air conditioners introduced by firms like Voltas,
Samsung, Daikin, and LG are noted for their advanced EER, rapid cooling, quiet
operation, and compressor and condenser longevity.
Furthermore, established
firms such as Voltas, Daikin, LG, and Blue Star have raised the bar for new
players to enter the market. For instance, air conditioner manufacturers are expanding their
manufacturing facilities and creating plants worldwide to expand their consumer
base. For example, Daikin invested USD136.05 million in September 2021 to build
an air conditioner manufacturing plant in Andhra Pradesh, India. Such factors
are expected to boost the air conditioner industry in the future.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=3319
Customers can also request for 10% free customization on
this report.
Since a more significant portion of India's population lives in
the northern states, the North India region is expected to have the largest
revenue share of the market. The northern region comprises Delhi/NCR, which has
the most significant demand for air conditioners due to the increased need for
residential and business spaces, which drives up the demand for residential and
commercial air conditioners. Other factors, such as increased disposable
income, government measures to electrify rural areas in Uttar Pradesh, Punjab,
and Himachal Pradesh, among others, and the strengthening of the residential
sector, are expected to assist the air conditioner market to grow in the
upcoming years.
“The need for a healthy lifestyle has risen in recent years due
to surging temperatures, influential technological innovations, and decreasing
production costs due to the rising number of brands within the air conditioner
market. Only 5% of the country's houses have air conditioners, compared to 90%
in the US and 60% in China, and this is up from nearly zero just 30 years ago.
However, as wages rise and electrical supplies become more stable, India's air
conditioners sector is catching up quickly, with double-digit growth in the
previous decade. These factors may influence the development of the India air
conditioner market in the upcoming five years.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Air Conditioner Market By Product Type (Splits,
Window, VRF and Chillers), By End Use Sector (Residential, Commercial, and
Industrial), By Region, Competition, Forecast & Opportunities,
2017-2027”, has evaluated
the future growth potential of India air conditioner market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India air conditioner market.
Contact
Mr.
Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com/