India Air Conditioners Market Size, Share, Growth, Trend & Forecast 2026by Mack Nene SEO | Digital Marketing
India air conditioners market stood at over $ 4.3 billion in 2017 and is projected to grow at a CAGR of more than 17%, to surpass $ 11 billion by 2023. Anticipated growth in the market is led by rising infrastructure development in the country coupled with growing demand for residential and commercial spaces. Moreover, constantly rising temperature along with increasing purchasing power of the consumers is further fueling growth in the country’s air conditioners market. Additionally, emergence of technologically advanced air conditioners, such as inverter technology, smart air conditioners, etc., is further anticipated to augment the demand for air conditioners across India in the coming years.
Years considered for this report:
Historical Years: 2013-2016
Base Year: 2017
Estimated Year: 2018
Forecast Period: 2019–2023
Objective of the Study:
- To analyze and forecast India air conditioners market size.
- To define, classify and forecast India air conditioners market on the basis of product type, end use sector, region and leading city.
- To scrutinize the detailed market segmentation and forecast the market size on the basis of product type, namely – light commercial air conditioners, ductable splits, VRF, chillers and others.
- To analyze and forecast the market share, in terms of volume, for air conditioners with respect to end use sectors, namely: Residential Commercial and Institutional.
- To analyze and forecast the market share, in terms of value, for air conditioners with respect to region, namely: North, East, West and South.
- To identify tailwinds and headwinds for the India air conditioners market.
- To evaluate product benchmarking in India air conditioners market.
- To strategically profile the leading players in the market, which are involved in the supply of air conditioners across the country.
India air conditioners market is controlled by these major players, namely Voltas Limited, Daikin Airconditioning India Pvt. Ltd., Blue Star Ltd., LG Electronics India Pvt. Ltd., Johnson Controls-Hitachi Air Conditioning India Limited, Havells India Limited, Samsung India Electronics Private Limited, Carrier Midea India Private Limited, Panasonic India Private Limited, and Videocon Industries Limited.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of air conditioners manufacturers and suppliers. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, end use sector and regional presence of all major air conditioner suppliers in the country.
TechSci Research calculated the market size for India air conditioners market using a bottom-up approach, where manufacturers value and volume shares data for product types (Light Commercial Air Conditioners, Ductable Splits, Chillers, VRF and Others) was recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as secondary sources directories, databases such as company annual reports, World Bank, Consumer Electronics and Appliances Manufacturers Association (CEAMA), Ministry of Micro Small & Medium Enterprises, Industry Magazines, Industry Reports, News Dailies, Credible Paid Databases, Proprietary Database, etc., were also studied by TechSci Research.
Key Target Audience:
- Air conditioner manufacturers, suppliers, distributors and other stakeholders
- Organizations, forums and alliances related to air conditioners market
- Government bodies such as regulating authorities and policy makers
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as air conditioner manufacturers, distributors and dealers, and policy makers. The report would allow the stakeholders in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on the growth of the market segment.
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.
“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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Created on Jun 22nd 2021 07:55. Viewed 118 times.