Air Conditioning Market in India 2017-2021
About Air Conditioning
Air conditioners are machines that control humidity, ventilation, and temperature of rooms, buildings, and vehicles. The market has two segmentations, residential and commercial markets. The products under consideration are window ACs and split ACs. The report only covers the air conditioning market in India. The global air conditioning market has changed rapidly over time with respect to technology and innovation in the field of coolers, filters, compressors, and sensors, which are used in smart air conditioners (ACs). These technologies help in developing energy-efficient ACs, which expand the customer base. The growth of the global residential and commercial construction market is driving the global air conditioning market.
Technavio’s analysts forecast the air conditioning market in India to grow at a CAGR of 10.39% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the air conditioning market in India for 2017-2021. To calculate the market size, the report considers the sales, volume, and value of split and window ACs.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Air Conditioning Market in India 2017-2021
Technavio recognizes the following companies as the key players in the air conditioning market in India: Daikin Air-conditioning India, Johnson Controls - Hitachi Air Conditioning, Mitsubishi Electric, and Voltas.
Other Prominent Vendors in the market are: Blue Star, Carrier, Godrej, LG, Lloyd Electric & Engineering, O General, Onida, Whirpool, and Samsung.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increased demand for solar powered ACs. The most effective way of reducing power shortage is to reduce the load on the power supply. Consumers have started investing in energy-efficient products, which consume less power. This shortage of power has led many vendors to invest in R&D and energy-efficiency products like solar powered ACs.”
According to the report, one of the major drivers for this market is Increase in electronic retail store and e-commerce. Electronic retail stores are organized stores where electronic goods of different brands are available. These stores are expected to grow at a CAGR around 2% during the forecast period. Indian consumers demand stores that offer a good ambience, multiple brands, and correctly priced goods under one roof. The increase in changing lifestyle and rise in the income of consumers are driving the electronic retail market in India. The increase in financial services and easy payment modes are the other attributes increasing the volume sales of ACs at electronic retail stores.
Further, the report states that one of the major factors hindering the growth of this market is High cost of energy-efficient ACs and maintenance of traditional ACs. The purchase of ACs in India with consideration of the price and technology is quite a challenge. This is because energy-efficient ACs are high-priced, while the other normal variants consume high energy and increase power bills.
Daikin Air-conditioning India, Johnson Controls - Hitachi Air Conditioning, Mitsubishi Electric, Voltas, Blue Star, Carrier, Godrej, LG, Lloyd Electric & Engineering, O General, Onida, Whirpool, and Samsung.
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