Air Conditioning Market in India 2017-2021

Overview of the air conditioning market in India

Technavio's market research analysis identifies the increase in commercial constructions and real estate as one of the primary growth factors for the air conditioning market in India. The demand for residential and commercial construction is rapidly increasing in India due to the rising urbanization and the growing disposable incomes of the consumers. Commercial construction is exponentially growing in India that is influenced by the rising investments. This subsequently demand the need for air conditioning. Our market research analysts predict that this market will grow steadily at a CAGR of more than 10% by 2021.

The introduction of smart and investor ACs is identified as one of the key trends contributing to the growth of the air conditioning market in India. The demand for cost-effective ACs is influencing vendors to develop innovative products such as inverter ACs and smart ACs that consume less power and offer enhanced performance. Additionally, the vendors have added the fastest cooling technology that focuses primarily on the temperatures of India to offer new features in the air conditioner market. Inverter ACs save energy and have sensors that automatically sets the temperature based on the climatic conditions. This helps in increasing the efficiency of the machines by controlling the compressor and reducing power consumption.

Competitive landscape and key vendors

The air conditioning market in India is consolidated due to the presence of several key vendors that dominate the market based on price. Vendors are investing more in R&Ds to invent energy-efficient ACs to attain a competitive advantage in the market. The competition among the players is intense due to low product differentiation and the rising disposable incomes of the consumers.

The leading vendors in the market are -

• Daikin Airconditioning India
• Johnson Controls - Hitachi Air Conditioning
• Mitsubishi Electric
• Voltas

The other prominent vendors in the market are Blue Star, Carrier, Godrej, LG, Lloyd Electric & Engineering, O General, Onida, Whirpool, and Samsung.

Segmentation by product type and analysis of the air conditioning market in India

• Split AC
• Window AC

The increasing awareness of consumers about the usage of eco-friendly goods will contribute to the growth of the split AC segment. Consumers buying new flats prefer to buy split ACs and the vendors are fitting split ACs with air purifiers in ACs that help in cleaning and removing bacteria and other dust particles from the air.

Geographical segmentation and analysis of the air conditioning market in India

• Residential
• Commercial

The residential segment of the home air conditioner market primarily prefers to install ACs and this is influenced by factors such as the increase in economic, energy-efficient, eco-friendly products, the rise in temperature, and an increase in middle-class population. Vendors are making significant changes such as minimal maintenance, instant cooling system, double layer filters, and bacteria-cleaning technology that provide optimum cooling solutions.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the air conditioning market in India?
• What are the key market trends impacting the growth of the air conditioning market in India?
• What are the challenges to market growth?
• Who are the key vendors in the air conditioning market in India?
• What are the market opportunities and threats faced by the vendors in the air conditioning market in India?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the air conditioning market in India?

Technavio also offers customization on reports based on specific client requirement.

The air conditioner is a sophisticated system for regulating the humidity and temperature in a building or vehicle. This new report by Technavio on the air conditioning market in India is an essential part of the consumer and retail portfolio under the fast-growing subdivision like general retail goods and services. This report aims at estimating the major trends and market drivers that induce the growth of the general retail goods and services industry. Minimum energy efficiency standards by BEE and cost-effective air conditioning are the major trends in this industry according to our Technavio's market research experts.

Our market research analysis includes primary and secondary research techniques like vendor briefings, telephone and online surveys, webinars, and podcasts, and industry journals and publications to help clients develop active growth strategies and keep pace with the frequently changing market landscape. Rapid urbanization, high quality of life, and increasing incomes are factors which may influence the demand for air conditioning market in India in the coming years as predicted by our market specialists.

The upcoming industry report on the air conditioning market in India also offers insights into the challenges faced by this industry such as high electricity consumption and the high cost of efficient air conditioner. Technavio also provides insights into the sectors such as furniture and home furnishing and outdoor gear.

Our market research methodology for the air conditioning market in India

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.