Dublin, July 21, 2022 (GLOBE NEWSWIRE) -- The "India Air Conditioner Market, By Product Type (Splits, Windows, VRF, Chillers, and Other includes Cassette, Ductable Splits, etc.), By End Use Sector (Residential, Commercial, and Industrial), By Region, Competition, Forecast & Opportunities, 2017-2027" report has been added to ResearchAndMarkets.com's offering.
The Indian Air Conditioner Market value in the year 2021 stood at USD4287.41 million, which is anticipated to grow at a CAGR of 6.08% during the forecast period, 2023-2027, to achieve a market value of USD6054.96 million by 2027.
The Indian Air Conditioner Market is anticipated to achieve this growth owing to the rising temperature in the country. The demand for air conditioners is spiking due to rising disposable income among the population and the surging demand for lavish lifestyles.
A surge in demand for the appliance from the industrial sector, commercial sector, as well as residential sector is further aiding the market growth. Rising GDP, growing per capita income, along with affordability are driving the surge in sales and thus supporting the growth of the Indian Air Conditioner Market in the upcoming five years.
Additionally, the growing e-commerce sector, availability of multiple branded products, and feasibility of online delivery and installment & maintenance charges & services also support the growth of the Indian Air Conditioner Market in the next five years.
Rapidly growing infrastructure, higher standards of living, growing instances of climatic adversity like heat stroke, extreme temperature hikes during the summer season are some of the major factors substantiating the growth of the Indian Air Conditioner Market in the future five years.
Furthermore, increasing investment in the research and technological advancement in the air conditioners to make the appliances more economical, decreasing energy consumption are also influencing the growth of the Indian Air Conditioner Market in the forecast years through 2027.
The Indian Air Conditioner Market is segmented on the basis of product type, end-use sector, regional analysis, and competitional landscape. Based on product type, the market is bifurcated into splits, windows, VRF, chillers, and others like cassette, ductable splits, etc. By end-use sector, the market is fragmented into residential, commercial, and industrial.
The market is also analyzed on the basis of regional market shares differentiated into North India region, South India region, East India region, and West India region. Split air conditioners are of two types; single split and multi split.
Split air conditioners are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to growing demands for the aesthetically appealing air conditioners being installed inside the home but the vents being out of sight.
Moreover, the higher power efficiency of the split air conditioners is also a major factor behind the segmental growth along with the growth of the Indian Air Conditioner Market in the future five years.
Objective of the Study:
- To analyze the market size of the Indian Air Conditioner Market from 2017 to 2021.
- To estimate and forecast the market size of the Indian Air Conditioner Market from 2022 to 2027 and growth rate until 2027.
- To classify and forecast the Indian Air Conditioner Market based on product type, end-use sector, regional analysis, and competitional landscape.
- To identify dominant region or segment in the Indian Air Conditioner Market.
- To identify drivers and challenges for the Indian Air Conditioner Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indian Air Conditioner Market.
- To identify and analyze the profile of leading players operating in the Indian Air Conditioner Market.
- To identify key sustainable strategies adopted by the market players in the Indian Air Conditioner Market.
Competitive Landscape
- Voltas Limited
- Daikin Airconditioning India Pvt. Ltd.
- LG Electronics India Pvt. Ltd.
- Blue Star Limited
- Johnson Controls-Hitachi Air Conditioning India Limited
- Panasonic India Private Limited
- Samsung India Electronics Private Limited
- Haier Appliances India Pvt. Ltd
- Havells India Pvt. Ltd
- Carrier Midea India Private Limited
Report Scope:
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2027
India Air Conditioner Market, By Product Type:
- Split
- Window
- VRF
- Chillers
- Other includes Cassette, Ductable Splits, etc.
India Air Conditioner Market, By End-User:
- Residential
- Commercial
- Industrial
India Air Conditioner Market, By Region:
- North
- West
- South
- East
For more information about this report visit https://www.researchandmarkets.com/r/yxk7sz
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