Renub Research provided a thorough industry analysis with market share insights in a recent report titled "India Air Conditioner Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028". India Air Conditioner Market share research is also provided for competitors, market segments, and recent advancements.
India Air Conditioner Market is anticipated to grow at a CAGR of 14.74% between 2022 and 2028. The India air conditioner (AC) market surge is propelled by urbanization and increased disposable incomes. Urban migration creates a strong demand for ACs in cities, intensified by the growing apartment culture. Economic growth has boosted middle-class incomes, making ACs less expensive and accessible. Improved financing alternatives similarly widen customer access. The demand is moving toward energy-efficient inverter ACs due to heightened awareness of electricity expenses and environmental effects. Split ACs, with advanced capabilities like Wi-Fi connectivity and air purifiers, are gaining recognition over window ACs, reflecting evolving purchaser preferences in India's dynamic AC market.
Moreover, India's sizzling summers drive a surge in air conditioner (AC) demand, emphasizing power efficiency. Both residential and industrial sectors prioritize more astonishing environmentally friendly and price-effective solutions. Soaring energy costs and environmental concerns spark a shift closer to power-efficient ACs, decreasing electricity payments and carbon footprints. Government projects, which include the Bureau of Energy Efficiency (BEE) star rating system, incentivize producers and consumers to undertake power-efficient models, shaping a more sustainable and low-priced trajectory in the dynamic panorama of the Indian AC market.
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Similarly, consumers seek ACs with better BEE star ratings for elevated electricity efficiency, prompting manufacturers to introduce models with 5-star rankings and above. Smart ACs, equipped with capabilities like Wi-Fi connectivity and smart scheduling, offer remote control and electricity optimization, with the potential for full-size adoption. Emerging alternative cooling technologies, including solar-powered ACs and district cooling structures, present promising long-term solutions. Continued investment in research and development is essential to advancing even more efficient cooling technologies and propelling the market ahead. So, India's Air Conditioner Market is projected to reach US$ 6.73 Billion by 2028.
The Room AC market in India is primed for substantial growth propelled by escalating demand from the residential sector.
As urbanization quickens and living standards enhance, there is a surging need for efficient and personalized cooling solutions in houses. Room AC units catering to individual spaces are essential for family comfort. The increasing middle class with growing disposable earnings in addition fuels this demand. Manufacturers catering to those residential wishes are probable to witness expanded market share, making the residential sector a pivotal driver in shaping the future trajectory of the Room AC market in India.
The split air conditioner (AC) sector in India is all set to continue its growth trajectory in the projected period.
The growing urbanization, middle-class population, and changing lifestyle increase the demand for efficient cooling solutions. Split ACs, regarded for their power efficiency and versatility, align with consumer options. The sustained growth of the split AC market in India is underpinned by a confluence of factors, notably technological advancements, competitive pricing strategies, and a growing emphasis on domestic comfort. These drivers have contributed to the steady expansion of the split AC segment in the Indian market. Given the current market trends, this growth trajectory is projected to persist in the future, subject to the continued availability of these drivers.
The Indian AC industry allocates a considerable portion to 1.5-ton AC units, representing a substantial market share.
The trend of 1.5-ton AC units is attributed to their most beneficial balance between cooling capacity and strength performance, making them a desired preference for numerous consumers. The 1.5-ton sector aligns with the demand for efficient cooling solutions in Indian households, reflecting a harmonious blend of overall performance and cost-effectiveness. As a result, those units play a critical role in shaping and dominating the dynamics of the Indian AC market.
The residential air conditioner (AC) market is a pivotal and expanding segment within India's broader AC market.
Rapid urbanization, disposable earnings, and a growing middle elegance contribute to the rising demand for residential cooling solutions. As more families seek comfort and improved living standards, the residential AC market experiences a sustained boom. Factors such as energy efficiency, modern capabilities, and various product varieties similarly propel the significance of this phase, making it a key driver in shaping the dynamics of India's AC enterprise.
India's online air conditioning (AC) industry has witnessed significant growth in the air conditioner market.
Increased internet penetration, ease of online purchasing, and a surge in tech-savvy customers have fuelled the trend. Online structures offer an extensive array of AC alternatives, competitive prices, and handy delivery, catering to the evolving alternatives of a digitally connected customer base. This digital transformation in the AC market has propelled vast growth in online sales, making it a vital driver of the industry's achievement in India.
Due to escalating demand, the western part of India is poised to secure a larger market share in the upcoming years in the air conditioner market.
As urbanization quickens and temperatures grow, the region studies a surge in the need for cooling solutions. This, coupled with a growing middle class and increasing buying power, propels the demand for air conditioners. Favorable monetary situations and an ever-growing awareness of comfort drive the Western India market's prominence, making it a key player within the evolving panorama of the Indian air conditioner enterprise.
Competitive Landscape.
Among the well-known businesses in the India Air Conditioner Market are Johnson Controls-Hitachi Air Conditioning India Limited, Blue Star Industries, Godrej and Boyce Manufacturing Company Limited, Whirlpool of India Limited, Havells India Limited, Voltas Industries, and Havells India Limited.
Market Summary.
- Type- The report covers the air conditioner market in India by type in 4 viewpoints (room air conditioner, duct air conditioner, ductless air conditioner, and centralized air conditioner).
- Product types- By product types, the Air Conditioner Market Share in India is broken into 3 viewpoints (Split AC, Window AC, and Other AC).
- Size- The Report covers the Air Conditioner Market in India by size in 4 viewpoints (1 Ton, 1.5 Ton, 2 Ton, and Others).
- Applications- India's Air Conditioner Market is broken into 6 viewpoints (Residential, Commercial and retail, Hospitality, Transportation and Infrastructure, Healthcare, and Others).
- Sales Channel- Renub Research report covers the Air Conditioner India Market Share by sales channel in 3 viewpoints (Small Retailers, Modern Retail/MBO, and Others).
- Region- The Air Conditioner Market Share in India by region breakup in 4 viewpoints (North, South, West, and East).
- Key Players- All the major players in the market share of air conditioner companies in India have been covered from 3 Viewpoints (Overview, Recent Developments & Revenue): Voltas Limited, Blue Star Limited, Havells India, Whirlpool India Ltd., Godrej & Boyce Manufacturing Company Ltd., MIRC Electronics Ltd., and Johnson Controls- Hitachi Air Conditioning India Ltd.
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