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The market for air conditioners in India has been on a steady growth ever since, apart from certain exceptions. The perception of people towards the category of this product has witnessed a paradigm shift over the years from a luxury product to becoming a necessity in hot humid weather conditions of India. In India, hot and humid climate prevails for 4-6 months in a year, due to which majority of the sales of air conditioners take place during this period. With extremely low penetration, rising per capita income and hot and humid climatic conditions in most part of the country are boosting the sales of air conditioners. In addition to the growing demand for room air conditioners on account of improving lifestyle of expanding middle-class households the central air conditioning systems are also anticipated to grow due to growing construction market in the country.
According to “India Air Conditioners Market Forecast & Opportunities, 2019” , the Indian air conditioners market revenues are projected to grow at a CAGR of around 15% during 2014-19. The split air conditioners segment is the highest revenue contributor followed by chillers and VRFs. In room air conditioning segment, the market share of window air conditioners has been witnessing a continuing decline over the last few years on account of decreasing price gap and lower energy-efficiency in comparison with split air conditioners. While many leading companies such as LG, Panasonic and Samsung have exited from the windows air conditioning segment, other major companies like Carrier Midea, Voltas, Blue Star, Hitachi, Godrej, etc., have decreased the production of window air conditioners in the country. Northern region is the highest revenue contributor in the air conditioners market in India, followed by southern and western regions.
“India Air Conditioners Market Forecast & Opportunities, 2019” report elaborates following aspects related to air conditioners market in India:
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