India Air Conditioner Market Analysis and Forecast, 2019-2028 - Detailed Market Overview by RationalStat
Market Overview and Dynamics: Installation of Residential and Commercial Air Conditioners to rise during the Forecast Period
The India Air Conditioner market is expected to grow at a CAGR of around 15% during the forecast period of 2022-2028. The global air conditioner market is to gain significant growth primarily driven by the early onset of summer, rising penetration of ACs, and higher disposable income.
India air conditioner market is expected to witness robust growth in the next six years. Rising urbanization, changing lifestyles of consumers, the growing instances of climatic adversity like heat stroke, and year-round usage trends, are some of the key factors expected to propel the demand for air conditioners in the country.
• Moreover, increasing investment in R&D and technological advancement in air conditioners are further expected to push the demand graph for air conditioners in an upward direction.
• North India is dominating the India air conditioner market due to elevated temperatures and high AC penetration. Coastal states like Kerala and Tamil Nadu, etc. are expected to gain substantial growth due to recurrent air conditioner replacements as a result of corrosion.
• Soaring temperatures are the reason behind the considerable demand for air conditioners in western and central India.
• Based on AC type, split AC is dominating the market due to feasibility, easy installation anywhere, and transition of inverter technology. Moreover, according to the research done by RationalStat, split ACs reached over 85% penetration in 2021.
• On the basis of sales channels, online (e-commerce stores) are expected to gain significant traction due to the rise in the young population and shifting preferences of consumers.
• Based on region, North India is dominating the India air conditioner market due to extreme weather conditions.
India Air conditioner market is fragmented in nature with the presence of various players operating in the region. Companies are offering ACs with updated technologies in the market to file intense competition in the market. Some of the innovations are smart thermostats, ice-powered air conditioners, digital ceilings, solar-powered air conditioners, 3D-printed air conditioners and etc.
Moreover, Manufacturers are focusing on expanding their delivery and service centers along with launching products with innovative features, including power-saving and auto-clean features. International brands are set to foray into the Indian air conditioner market by launching products.
• In March 2022, France-based electronics brand Thomson, which operates in India through its brand licensee Super Plastronics Pvt Ltd (SPPL), announced to foray into the India AC market.
• In 2022, RealMe launched the product line of new air conditioners in India.
Some of the prominent players operating in the India air conditioner market include Voltas, Daikin, LG, Panasonic, Llyod Electric, Blue Star, Hitachi, Samsung, Carrier Midea, Videocon, Electrolux, GREE, Whirlpool, Fujitsu General, Toshiba, and Haier, among others.
RationalStat has segmented the global biodegradable diapers market on the basis of product type, raw material, size, end user, sales channel, and region
• By AC Type
o Cassette (ceiling mounted)
o Floor Mounted
• By Capacity
o Less than 1 Ton
o 1 Ton
o 1-1.4 Ton
o 5 Ton
o More than 1.5 Ton
• By Star Rating
o 1 Star
o 2 Star
o 3 Star
o 4 Star
o 5 Star
• By Sales Channel
o Modern Retail
Online (e-commerce stores)
• Convenience Stores
• Specialty and Discount Stores
Conventional Retail (Retail Stores)
• By End User
Others (Villas, etc.)
Others (Shopping Centres, Concert Halls, etc.)
• By Region
o North India
o South India
o West and Central India
o East India
For more information about this report visit https://store.rationalstat.com/store/india-air-conditioner-market/
Kimberly Shaw, Content and Press Manager
Phone: +1 302 803 5429
RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, procurement intelligence, data analytics, and analytical dashboards.
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