Soaring temperature, rising technological innovations and increasing disposable income of the population to drive India air conditioners market through 2023
According to a TechSci Research report, “India Air Conditioners Market By Product Type, By End Use Sector, Competition Forecast & Opportunities, 2013 – 2023”, India air conditioners market is projected to register a CAGR of over 17% during 2018 – 2023. Growth in the country’s air conditioners market is anticipated on account of rising demand for air conditioners from residential as well as industrial sectors, extreme climatic changes and emergence of latest technologies in air conditioners, such as inverter technology, smart air conditioners, etc.. Moreover, increasing disposable income along with rapidly growing demand from Tier II & III cities is further fuelling growth in India air conditioners market. Voltas Limited, Daikin Airconditioning India Pvt. Ltd., Blue Star Ltd., LG Electronics India Pvt. Ltd., etc., are some of the leading players in the India air conditioners market.
Browse 13 market data Tables and 43 Figures spread through 109 Pages and an in-depth TOC on “India Air Conditioners Market”
Among regions, North dominated India air conditioners market with value shares of over 38%, in 2017. This region is expected to generate significant demand for air conditioners and is anticipated to remain dominant through 2023 as well owing to rising construction investments, increasing urbanization and growing commercial sector across the region. On the basis of types, India air conditioners market can be broadly categorized into Light Commercial Air Conditioners, Ductable Splits, Chillers, VRFs and Others. Light commercial air conditioners dominated the market in 2017 as they are relatively less expensive than other types of air conditioners.
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“Rising demand for energy efficient air conditioners has pushed manufacturers to focus on product innovation in order to fulfil the need for energy saving. For instance, LG has introduced window inverter air conditioner which is equipped with dual inverter technology and consumes much lesser energy than a conventional air conditioner. Moreover, booming e-commerce industry has enabled manufacturers to reach their customers easily even in farthest of regions and widen their distribution reach, which is further expected to positively influence India air conditioners market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Air Conditioners Market By Product Type, By End Use Sector, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of India air conditioners market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the India air conditioners market.
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