DUBLIN, Jan. 17, 2018 /PRNewswire/ --
The "India Air Conditioner Market Outlook, 2022" report has been added to ResearchAndMarkets.com's offering.
According to the report, air conditioner sales are expected to grow with a CAGR of more than 10% over next four years.
Consumer durables is one of the fastest growing industry segments in India. Air conditioners are basically used to manage temperature and humidity efficiently. These systems are installed in commercial buildings, IT parks, hotels, restaurants, manufacturing industries, retail outlets and residential buildings for enhanced lifestyle comfort.
With the continuous inflow of disposable income and the advancement of technology, the need for the varied consumer durable goods are on a rise. This in turn has led to a strong competition between different consumer durable brands as well as the price gap between the same consumer goods of different companies are also narrowing down.
India is one of the major developing countries with huge middle class population base and rising per capita income. In comparison to other developing countries, the market penetration of air conditioners is still very low in India, which in turn provides a huge opportunity to players.
The air conditioner market is divided into two segments i.e. residential and commercial. Residential or room air conditioners are further sub-divided into window air conditioners and split air conditioners. Window air conditioners are comparatively cheaper than split air conditioners; however their market is on a decline with the popularity of spilt ACs in the country. Some companies like LG, Panasonic and Samsung have even stopped making window ACs because of its inflection point where there is no innovation possible and the entire market is shifting towards split segment. On the other hand, split AC is high on demand as it is very easy to install and the price gap between window and split ACs have also become very less. Consumers nowadays prefer energy-efficient smart appliances due to rising energy prices.
The commercial segment is also catching up with the increase in demand of commercial plots, offices, stores, factories and business apartments. This segment is subdivided into light commercial, ducted & packaged, VRF and chillers. High wall splits, cassettes, window, and concealed ductable splits are some of the types of light commercial air conditioners.
Light commercial air conditioner dominates the commercial segment. A package unit is a single unit with its high and low side together in one box, typically found on commercial roofs whereas a ductable split is two units that work together. VRF (variable refrigerant flow), also known as VRV (variable refrigerant volume), is an HVAC technology and uses refrigerant as the cooling and heating medium just like ductless minisplits VRFs. Chillers are used in a variety of comfort air conditioning and process cooling applications.
Players like LG, Voltas, Samsung, LLoyd, Hitachi, Daikin etc. rule the air conditioner market in India. Some new players are also entering into the market. Intex Technologies, which forayed into the consumer durable segment with the launch of washing machines and refrigerators, has now expanded its portfolio by launching air-conditioners. Micromax Informatics introduced a new range of air conditioners, to strengthen its presence in the AC market.
- Blue Star Limited
- Daikin Airconditioning India Private Limited
- Haier Appliances (India) Private Limited
- Johnson Controls-Hitachi Air Conditioning India Limited
- LG Electronics India Private Limited
- Lloyd Electric and Engineering Limited"
- Mitsubishi Electric India Private Limited
- Panasonic India Private Limited
- Samsung India Electronics Private Limited
- Voltas Limited
- Whirlpool of India Limited
Key Topics Covered:
1. Executive Summary
2. Global Air Conditioner Market Outlook
3. India Air Conditioner Market Outlook
4. Product Price & Variant Analysis
5. India Economic Snapshot
6. Raw Material
7. Market Penetration
8. PEST Analysis
9. Policy & Regulatory Landscape
10. Trade Dynamics
11. Channel Partner Analysis
12. India Air Conditioner Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
15. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/research/8wmqxs/india_air?w=5
Laura Wood, Senior Manager
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SOURCE Research and Markets