Share of organized players to reach almost 15% in the industrial air cooler market by the end of the year 2021: Bonafide Research

Growing retail culture, huge demand from large & midsized factories and increasing preference towards organized air coolers because of satisfactory after sales service tend to increase the market share of organized players.
According to recently published report of Bonafide Research “India Air Cooler Market Outlook, 2021”, sales of industrial air cooler was 3.83 lakh units in the year 2014. The industrial air cooler market was growing at a CAGR of 9.04% over four years. As far as market share is concerned currently the market for industrial air cooler is dominated by local fabricators and local players. There is nothing like an organized industrial air cooler market even though it has great potential.
For decades, nobody had bothered to cool industrial environments. But looking at the advantages, installing industrial cooling for commercial establishments, airports, retail chains, and banquet halls has proven its worth. Industrial cooling is slowly gaining increasing importance as corporate are looking to create a congenial working environment for their shop floor teams. Large and small factories are the most pertinent examples as corporate can ill-afford centralized air conditioning due to open-air areas as well as prohibitive capital and operating costs. Firstly, it is proven that better work condition has helped increase productivity considerably. Further shifting to air cooling for commercial and offices, retail and hospitality industry over air conditioning has helped big time in saving costs to the companies as air coolers use 90% less energy than an air conditioner does.
Retail is expected to be one big potential industry for the industrial cooling growth in India, especially for organized players. India is at the threshold of a retail revolution and a preferred destination for global retailers. Indian retail industry has expanded by 10.6% and is expected to increase to US$ 750-850 billion by 2015; hence it offers tremendous growth opportunity for the organized industrial cooling manufacturers in years to come. Other industries such as paint industry, logistics, molding industry, auto Industry, carpet industry, religious sector, bakery, FMCG companies, food industry, educational institutes, auditorium, and bottling plant too are expected to be big markets for the organized industrial cooling. Manufacturers are trying hard to tap this opportunity which will eventually increase the market share of organized players in the coming years.
Local players are not able to give proper after sales service to their customers and even the quality noticed was low. On the other hand, organized players offer warranty and guarantee on their industrial air coolers and the repairing cost is also borne by them in such stipulated period with an excellent after sales service. Hence many companies are now looking for organized players in this sector for better satisfaction and services.

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This release was published on openPR.