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On account of increasing per capita income and growing middle class population, the consumer outlook towards air conditioners has changed over the last decade in India.The country experiences hot and humid summers for 4-6 months, on account of which majority of air conditioner sales take place during that period. Introduction of new technologies resulting in reduction of prices, moderate in real estate sector, rising per capita income and extreme climatic conditions in most parts of the country are some of the major factors that are boosting the sales of air conditionersin the country. In addition, growing infrastructure developments coupled with increasing activities in industrial and commercial sectors are augmenting the demand for commercial air conditioning systemsin India.
According to "India Air Conditioners Market Forecast & Opportunities, 2020", the Indian air conditioners market is projected to grow at a CAGR of over 10% during 2015-20. Accounting for a lion's share of the air conditioners market, split air conditioners segment was the highest revenue generator, followed by VRFs and window air conditioners in 2014. The market share of window air conditioners has been declining over the last few years on account of decreasing price gap compared to split ACs, due to which many leading companies such as Samsung and LG have exited from the windows air conditioning segment while other major companies like Voltas, Daikin, Blue Star, etc., have lowered the production of window air conditioners in the country. Northern India generates the highest revenue in the country's air conditioners market, followed by Southern and Western regions. "India Air Conditioners Market Forecast & Opportunities, 2020" report elaborates the following aspects related to air conditioners market in India:
The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with air conditioners manufacturers, distributors and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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