Market Research Report
India Heating 2018
|Published by||BRG Building Solutions||Product code||350217|
|Published||Content info||99 Pages
Delivery time: 1-2 business days
|India Heating 2018|
|Published: May 31, 2018||Content info: 99 Pages||
This report provides an in-depth analysis of the Indian heating market including the monitoring of recent trend patterns and demand drivers, plus substantiated volume forecasts for the next 5 years.
The financial year 2017-18 started out strong with a rather subdued growth of 6.3% during first half of the fiscal year. July 1st, 2017 saw the introduction of Goods and Services Tax into the Indian economy. Apart from reducing the tax burden on manufacturers and extending the tax base, GST would also help bring in the informal, unorganised sector into the formal economy. The winter season during the fourth quarter of the year accounts for the majority of water heater sales in India. In 2017 the market displayed a decent growth, on path to recovery from the effects of demonetization in 2016. Electric water heaters showed better growth in comparison to 2016 while gas water heater market continued to remain stagnant.
Thermosyphon sales increased marginally as the government made it mandatory to install solar water heaters in new buildings, thus driving growth in southern India. Solar water heaters are gradually becoming more affordable and rising awareness among the population about environmental effects and cost benefits of saving electricity has generated more demand. Increased demand from semi-urban and rural regions has also benefited sales during this period.
Sales for Room Air Conditioners gained momentum only in the second half of 2017 and accelerated during the last quarter of the year with inverter ACs gaining traction in sales. The market continues to display considerable growth, largely driven by the low but increasing penetration of air-conditioners due to rising income levels in India. The market for commercial ACs saw a slower growth in 2017 due to subdued commercial construction in the Tier 1 cities. However, the sales in the Tier 2 to Tier 4 cities (which currently still account for a small share in sales) continued to grow at a good pace, benefiting the overall market development.
This report focuses on the following product categories: