India Air Conditioner Market Research Report, 2027-28

The report titled "India Air Conditioner Market Research Report, 2027-28" provides a comprehensive analysis of the air conditioner market in India. The report offers a complete guide to the size and share of the market at a national level. Along with historic data, it also provides the latest sales data - thus allowing you to identify the market segments driving growth. The report also identifies leading companies and brands, along with examining competition among them. Forecasts through five years demonstrate how the market is set to change in coming years. Actual Market Research employs comprehensive and iterative research methodology focused on minimizing errors in order to provide the most accurate estimates and forecast possible. India Air Conditioner Market Research Report, 2027-28 The air conditioner market grew with CAGR of more than 9% for 2016-2021, registering more than INR 26000 Crore in 2021-22. The ac business in India remains steadfastly committed to customer satisfaction and innovation and has launched the new enhanced version of the Inverter AC. The launch of new technology air conditioner offering superior quality products those are both affordable and accessible. In India, AC penetration is still hovering around 8% compared to the 90% in developed countries. This provides a huge potential for market players to grow and sustain their industry leadership position. Further, rise in the average temperature of the Indian subcontinent which also translates to higher demand for ACs in the country. India ac market is expected to grow with higher cagr in 1 to 2 tons and above volume capacity in residential air conditioners demonstrate the largest market value share in the air conditioner market. The Commercial ac segment principally provision to products from the ductable and package units, VRF system to the largest chiller segments. Further, development projects in the commercial sector such as rising of new hotels, hospitals and malls across major tier 1 and tier 2 cities in India would lead to the growth in stipulation for both room air conditioners and the commercial ACs during the forecast period. Majority of market volume is churns by North region whereas East is considered as the lowest penetrated region in ac market. Ac market in India have been adversely impacted by the Covid-19 pandemic and lockdowns. However, due to pandemic situation, it is anticipated that the 2020-21 year would be a challenging year for the air conditioning industry as various firms would be airlifting component such as compressors, motor driven fans and other ac elements from foreign countries. However, Government’s emphasis on ‘Make in India’ project, many major firms has taken appropriate steps towards increasing its dependence on local markets. Going forward, the dependence on imports will be even further reduced. For instance, in February 2019, Energy Efficiency Services Limited (EESL), a joint venture of four Public Sector Enterprises under the administrative control of the Ministry of Power, Government of India, announced the launch of the Super-Efficient Air Conditioning program. The program is aimed at promoting the use of energy-efficient technologies and bringing about a reduction in energy consumption. Through this program, the Ministry of Power in India also aims to address India’s Hydrochlorofluro carbons Phase-out Management Plan and Cooling Action Plan by 2032. 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. 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. Also, 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. The growth of the India air conditioner market is characterized by the presence of players operating in the market. Some of the players operating in the 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. 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. Recent Developments: • 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 Indian AC market. • In 2022, RealMe launched the product line of new air conditioners in India. Considered for the Report: Geography: India Base Year: 2021-22 Estimated Year: 2022-23 Forecasted Year: 2027-28 Objective of the study: • To present an Indian Research Report on air conditioner industry. • To analyze and forecast the market size of India Air Conditioner, in terms of value as well as volume. • To define, classify and forecast India air conditioner market on the basis of segments like residential/ room air conditioner and commercial air conditioner. • To further define and forecast India Residential/ Room Air Conditioner Market on the basis of product type (split air conditioner, window air conditioner), region and tonnage, star ratings and sales channel. • To define and forecast India Commercial Air Conditioner Market on the basis of product type like light commercial ACs, ducted & packaged, VRF System and chillers. • To strategically profile leading players, which are, operating in the air conditioner industry in Indian market. Approach for the Report: Actual Market Research performed primary as well as secondary research for this study. Initially, a list of manufacturers and suppliers operating in the air conditioner market of India were sourced through secondary sources. With the identified companies and consumers, primary research was carried out which included conducting online surveys, competitor analysis and exhaustive personal interviews - both face to face as well as telephonic basis, to extract maximum information from participants like industry executives/ distributors or consumers. Primary research gave us an idea of segmental revenues, export, pricing, geographical presence, channel partner model, USP etc. Actual Market Research seeks secondary data from third-party sources such as published articles, company websites, magazine articles, associations, trade journals, annual reports, government official websites and other paid database sources. In addition, data is also mined from a host of reports in our repository, as well as a number of paid databases of Indian government. Using both primary and secondary information, Actual Market Research calculated the market size through a bottom-up approach, where manufacturers’ value sales data for different types of air conditioners were recorded and subsequently forecasted for the future years. Scope of the Report: “India Air Conditioner Market Research Report, 2027-28” discusses the following aspects of air conditioner market in India: • India Air Conditioner Market Research Report • India Air Conditioner Market Size By Value & Forecast • India Air Conditioner Market Size By Volume & Forecast • India Air Conditioner Market Segmental Analysis: By Segment • India Residential/ Room Air Conditioner Market Size By Value & Forecast • India Spilt Air Conditioner Market Size By Value & Forecast • India Window Air Conditioner Market Size By Value & Forecast • India Residential/ Room Air Conditioner Market Size By Volume & Forecast • India Residential/ Room Air Conditioner Market Segmental Analysis: By Company, By Region, By Product Type, By Tonnage, By Tier, By City, By Star ratings, By Sales channel • India Commercial Air Conditioner Market Size By Value & Forecast • India Light Commercial Air Conditioner Market Size By Value & Forecast • India Ducted & Packaged Air Conditioner Market Size By Value & Forecast • India VRF Air Conditioner Market Size By Value & Forecast • India Chillers Market Size By Value & Forecast • India Commercial Air Conditioner Market Size By Volume & Forecast • India Commercial Air Conditioner Market Segmental Analysis: By Product Type • Key vendors in this market space Intended Audience: This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to air conditioning industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.