India Air Conditioner Market By Product Type (Splits, Windows, VRF, Chillers, and Other includes Cassette, Ductable Splits, etc.), By End Use Sector (Residential, Commercial, and Industrial), By Region, Competition, Forecast & Opportunities, 2020 – 2030

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Report Description

Report Description

India air conditioner market is expected to reach USD 8.07 Billion by 2030F, growing at a CAGR of 6.9% during the forecast period. The India air conditioner market is mainly driven by increasing demand from the industrial sector, rising GDP, growing per capita income, the surge in sales through e-commerce, etc.

Due to the strengthening of the increasing household sector, the rising construction of new housing societies, and the establishment of SMEs, residential air conditioners dominate the AC market share across all segments. Furthermore, an increase in the number of construction projects across metro and tier-2 cities will drive up demand for air conditioners in the coming years.

In terms of market segmentation by residential type, split ACs held the largest share of the room air conditioner market in terms of revenue and volume share in 2021, owing to changing consumer preferences toward adopting energy-efficient products and their rising adoption in residential and SME segments.

The market's expected growth can be attributed to the strong growth from the residential sector, which is the primary end-user of air conditioners. Due to improved livelihoods among Indian consumers, air conditioners are highly demanded in the residential industry. In addition, the rising commercial sector, another major end-user of air conditioners, has seen strong growth in the last decade.

During the COVID-19 pandemic, the production and manufacturing of air conditioners were affected. As a result of the lockdown, both demand and supply in the air-conditioners market declined significantly with the halt in the production activity, negatively impacting market growth for a short period.

Smaller Cities Drives the Market Growth

Increasing demand from small cities, particularly those with a population of less than one million people, contributes to a significant share of air conditioner sales in India. Air conditioners are in high demand in Patna, Lucknow, Kanpur, Indore, Mangalore, and Visakhapatnam.

Daikin and Voltas, two central air conditioning companies, have begun to invest in these cities. Furthermore, LG and Voltas may see increased sales of air conditioners in tier II and III cities in the coming years.

Rising Standards of Livelihoods is Fueling the Market Growth

With the growing income level, India's improving living standards and increasing variety of offers and discounts influence the demand for air conditioners within the Indian market. To cater to the national need, companies such as Daikin, Panasonic, Hitachi, Voltas, Blue Star, Havells, and Syska are among the companies that have applied to manufacture key air conditioner components.

Furthermore, companies are also offering their products on equated monthly installments (EMI) to make them more affordable for customers of all income levels. Such factors are expected to influence the increase in air conditioner sales in India.

Increasing Innovations in Air Conditioner Market Growth

Manufacturers are working on product innovation to meet the demand for energy savings. Companies such as LG have introduced window inverter air conditioners that use Dual Inverter technology and consume significantly less energy than traditional air conditioners.

Furthermore, due to the highly competitive market environment, manufacturers are working to provide features such as seamless Wi-Fi connectivity and inverter-based air conditioners, which are expected to drive growth in the India air conditioners market in the coming years.

India Air Conditioners Market

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Market Segmentation

The India air condition market is segmented based on product type, end user, region, and competitional landscape.

Based on product type, the market is categorized by Split, Window, VRF, Chillers and others, including Cassette, Ductable Splits, etc.

Based on end user, the market is segmented into residential, commercial, and industrial. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among north, west, south, and east regions.

Company Profiles

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, and others are among the major market players in the air conditioner industry that led the market growth of the India air conditioner market. 

Report Scope:

In this report, India Air Conditioner market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • India Air Conditioner Market, By Product Type:
    • Split
    • Window
    • VRF
    • Chillers
    • Other includes Cassette, Ductable Splits, etc.
  • India Air Conditioner Market, By End Use Sector:
    • Residential
    • Commercial
    • Industrial
  • India Air Conditioner Market, By Region:
    • North
    • West
    • South
    • East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India air conditioner market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Table of content

Table of content

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on India Air Conditioner Market

5.    Voice of Customer

5.1.  Brand Awareness

5.2.  Factors Influencing Purchase Decisions

5.3.  Brand Satisfaction Level

5.4.  Challenges Faced Post Purchase

6.    India Air Conditioner Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value & Volume

6.2.  Market Share & Forecast

6.2.1.    By Product Type (Split, Window, VRF, Chillers, and Other includes Cassette, Ductable Splits, etc.)

6.2.2.    By End Use Sector (Residential, Commercial, and Industrial)

6.2.3.    By Region (North, West, South, East)

6.2.4.    By Company (2021)

6.3.  Market Map (By Region)

7.    India Split Air Conditioner Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Tonnage Capacity (Less than 2TR, More than or equal to 2TR)

7.2.2.    By Split ACType (Inverter and Non-Inverter)

7.2.3.    By End Use Sector (Residential, Commercial, and Industrial)

7.3.  Product Benchmarking

8.    India Window Air Conditioner Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Tonnage Capacity (Less than 2TR, More than or equal to 2TR)

8.2.2.    By End Use Sector (Residential, Commercial, and Industrial)

8.3.  Product Benchmarking

9.    India VRF Air Conditioner Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value & Volume

9.2.  Market Share & Forecast

9.2.1.    By Tonnage Capacity (10HP-14HP, 14.1HP-20HP, Less than 10HP, More than 20HP)

9.2.2.    By End Use Sector (Commercial, Residential, and Industrial)

9.3.  Product Benchmarking

10.  India Chillers Air Conditioner Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value & Volume

10.2.             Market Share & Forecast

10.2.1. By Chillers AC Type (Air Cooled Screw, Water Cooled Screw, Air Cooled Scroll, Water Cooled Scroll, Centrifugal, and Others include Absorption and Reciprocating)

10.2.2. By End Use Sector (Industrial, Commercial, and Residential)

10.3.             Product Benchmarking

11.  Market Dynamics

11.1.             Drivers

11.2.             Challenges/Restraints

12.  Market Trends and Developments

13.  Import & Export Analysis

14.  Supply Chain Analysis

15.  Policy & Regulatory Landscape

16.  India Economic Profile

17.  Competitive Landscape

17.1.             Company Profiles

17.1.1. Voltas Limited

17.1.2. Daikin Airconditioning India Pvt. Ltd.

17.1.3. LG Electronics India Pvt. Ltd.

17.1.4. Blue Star Limited

17.1.5. Johnson Controls-Hitachi Air Conditioning India Limited

17.1.6. Panasonic India Private Limited

17.1.7. Samsung India Electronics Private Limited

17.1.8. Haier Appliances India Pvt. Ltd

17.1.9. Havells India Pvt. Ltd

17.1.10. Carrier Midea India Private Limited

18.  Strategic Recommendations

*The data given for any year represents the market during the period, i.e., 1st April of the previous year to 31st March of that year. eg: For 2022E, the data represents the period, 1st April 2021 to 31st March 2022.

Figures and Tables

List of Figures:

Figure 1: India Air Conditioner Market Size, By Value (USD Million), 2017-2027F

Figure 2: India Air Conditioner Market Size, By Volume (Thousand Units), 2017-2027F

Figure 3: India Air Conditioner Market Share, By Product Type, By Value, 2017-2027F

Figure 4: India Air Conditioner Market Share, By Product Type, By Volume, 2017-2027F

Figure 5: India Air Conditioner Market Share, By End User, By Volume, 2017-2027F

Figure 6: India Air Conditioner Market Share, By Region, By Volume, 2017-2027F

Figure 7: India Air Conditioner Market Share, By Company, By Volume, 2021

Figure 8: India Air Conditioner Market Map, By Product Type, By Volume, Market Size (USD Million) & Growth Rate (%), 2021

Figure 9: India Air Conditioner Market Map, By End Use Sector, By Volume, Market Size (USD Million) & Growth Rate (%), 2021

Figure 10: India Air Conditioner Market Map, By Region, By Volume, Market Size (USD Million) & Growth Rate (%), 2021

Figure 11: India Split Air Conditioner Market Size, By Value (USD Million), 2017-2027F

Figure 12: India Split Air Conditioner Market Size, By Volume (Thousand Units), 2017-2027F

Figure 13: India Split Air Conditioner Market Share, By Tonnage Capacity, By Volume, 2017-2027F

Figure 14: India Split Air Conditioner Market Share, By Split AC Type, By Volume, 2017-2027F

Figure 15: India Split Air Conditioner Market Share, By End Use Sector, By Volume, 2017-2027F

Figure 16: India Window Air Conditioner Market Size, By Value (USD Million), 2017-2027F

Figure 17: India Window Air Conditioner Market Size, By Volume (Thousand Units), 2017-2027F

Figure 18: India Window Air Conditioner Market Share, By Tonnage Capacity, By Volume, 2017-2027F

Figure 19: India Window Air Conditioner Market Share, By End Use Sector, By Volume, 2017-2027F

Figure 20: India VRF Air Conditioner Market Size, By Value (USD Million), 2017-2027F

Figure 21: India VRF Air Conditioner Market Size, By Volume (Thousand Units), 2017-2027F

Figure 22: India VRF Air Conditioner Market Share, By Cooling Capacity, By Volume, 2017-2027F

Figure 23: India VRF Air Conditioner Market Share, By End User, By Volume, 2017-2027F

Figure 24: India Chillers Air Conditioner Market Size, By Value (USD Million), 2017-2027F

Figure 25: India Chillers Air Conditioner Market Size, By Volume (Thousand Units), 2017-2027F

Figure 26: India Chillers Air Conditioner Market Share, By Chiller AC Type, By Volume, 2017-2027F

Figure 27: India Chillers Air Conditioner Market Share, By End Use Sector, By Volume, 2017-2027F

Frequently asked questions

Frequently asked questions

Based on product type, the India air conditioner market is divided into split, window, VRF, chillers and other includes cassette, ductable splits, etc. Among them, split is the dominating segment with the market share of around 84.27% in terms of volume and it is expected to grow at a CAGR of 5.42% due to the wide consumption of air conditioner within the day-to-day household sector.

The air conditioner market of India was valued at USD4,287.41 million in 2021 and is anticipated to grow at a CAGR of 6.08% in the forecast period due to factors such as increasing temperature, rising demand from the residential as well as commercial sector.

The top 10 players in the India Air Conditioner market are 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, Havells India Limited, Carrier Midea India Private Limited.

The COVID-19 pandemic had a negative impact on air conditioner sales. Major businesses were forced to shut down, resulting in a drop in sales across the country. The demand from commercial sector has seen a significant drop due to closure of construction sites and restriction imposed upon the closure of industries for a limited duration, according to industry players. As a result, various suppliers have shifted their focus towards the residential use air conditioner such as split air conditioners to meet rising demand in the household sector.

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