Air Cooler Market in India and China 2017-2021
About Air Cooler
Air coolers are low-cost, eco-friendly, and energy-efficient alternatives to air conditioners. Air coolers cool air through the evaporation of water and are simple to use. Air coolers operate with maximum efficiency with free flow of fresh air and adequate ventilation. A major advantage that air coolers have over air conditioners is that they are best suited for residences, showrooms, shops, and offices, where doors are opened and closed frequently. Moreover, they consume significantly less amount of electricity without producing harmful emissions.
Technavio’s analysts forecast the air cooler market in India and China to grow at a CAGR of 6.39% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the air cooler market in India and China for 2017-2021. To calculate the market size, the report considers the sales, volume, value and excludes retrofit, replacement, spares, aftermarket, services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Air Cooler Market in APAC 2017-2021
Technavio recognizes the following companies as the key players in the air cooler market in India and China: Bajaj Electricals, Honeywell International, Kenstar, and Symphony
Other Prominent Vendors in the market are: DAIKIN INDUSTRIES, Haier, INTEX, Khaitan, LG Electronics, Groupe SEB India, McCoy, Ram Coolers, Usha Electricals, VEGO, and Voltas.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increased use of solar air coolers. The primary benefit of a solar air cooler is that it reduces the usage of electricity. Factors such as growing population and decrease in solar panel prices have a positive impact on the growth of the solar air cooler market. The major demand for solar coolers is expected to stem from Asia-Pacific (APAC) due to favorable climatic conditions and adoption of solar air coolers in the region. The rise in requirement is because of the increased population levels and standards of living in countries such as China, Australia, and India.”
According to the report, one of the major drivers for this market is Expanding organized retail sector in developing countries. Evolution of the retail industry, especially in developing countries like India and China, is marked by the emergence of many stores in the hypermarket, supermarket, and specialty store formats. Convenience and comfort are increasingly becoming crucial factors to customers because of their hectic lifestyles and work schedules. Large organized retail stores stock multiple brands and a variety of air coolers under one roof, providing more options to consumers. Residential air coolers are primarily sold through organized retail chains like specialty stores and department stores. The share of organized retail is increasing with a shift in consumer behavior from traditional to modern retail channels. This will have a far-reaching impact on the manufacturers and retailers of branded products.
Further, the report states that one of the major factors hindering the growth of this market is Rise in number of private label brands. The number of private label brands in the air cooler market in India and China is increasing, posing competition for global and regional vendors. Private labels are undercutting the retail prices of branded labels; over time, there has also been a rise in the quality of products offered by private labels. The entry of these private labels into the market, however, enables consumers to purchase air coolers at relatively lower prices. Thus, it becomes difficult for global players to expand geographically, owing to the presence of various well-established private label brands in the market. The growing presence of these private label and local brands is expected to negatively influence the branded players. In addition, the market has become more competitive and price-sensitive.
Bajaj Electricals, Honeywell International, Kenstar, and Symphony, DAIKIN INDUSTRIES, Haier, INTEX, Khaitan, LG Electronics, Groupe SEB India, McCoy, Ram Coolers, Usha Electricals, VEGO, and Voltas.
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