Dublin, Aug. 30, 2024 (GLOBE NEWSWIRE) -- The "India Air Conditioners Market Report, Forecast by Types, Products Types, Size, Applications, Sales Channels, Regions, Countries and Company Analysis, 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The India Air Conditioners Market was valued at US$ 3.38 Billion in 2023 and will grow to US$ 11.69 Billion by 2032, with a CAGR of 14.78% from 2024 to 2032
Residential air conditioners are leading all segments of the air conditioning market because of the growing power of the home sector, the growth of SMEs, and the expansion of new housing developments. In addition, the influx of building projects in tier-2 and metro areas is anticipated to increase demand for air conditioners in the upcoming years. 
The improving economic environment, growing per capita income, and rising pollution levels will probably lead to a considerable development in the global air conditioning industry in the coming years. Technological advancements seen in developing countries are also driving the global air conditioning market. The growing amounts of air pollution are having a negative impact on both the local ecosystem and population. Pollution is a major cause of fatigue and headaches, which are common signs of poor air quality.
This is propelling the air conditioner market worldwide even further. However, the high cost of air conditioning equipment may hinder this industry's growth. As air cooling has become more of a need, requirements and wishes aside, the challenge for companies that manufacture air conditioning systems will be to make air conditioning systems more economical and efficient than before.
Growth Factors in the India Air Conditioners Industry
Growing Number of Households with Urbanization
Rapid urbanization and the growing power of the household sector are two of the main factors propelling the Indian AC industry. In search of better job prospects and better lives, more Indians are relocating to cities, which has increased demand for residential infrastructure, particularly air conditioning. Urban households have more discretionary income as a result of urbanization, which also raises the demand for housing.
More families will be able to purchase air conditioners because to this economic improvement, which will fuel market expansion. Modern living standards have led to a large increase in the number of AC installations in both newly constructed residences and existing homes undergoing renovations in urban regions, particularly in metro areas and tier-2 cities that are seeing major development.
Urbanization also brings about changes in lifestyle, with ease and comfort taking precedence. Given the terrible summers in India with high temperatures and humidity, air conditioning is practically a need for maintaining comfort and productivity indoors. The market need is further supported by this cultural shift that views air conditioning (AC) as a necessity rather than a luxury.
The rise in metropolitan regions' nuclear families and dual-income households is another factor driving up the demand for domestic air conditioners. When both partners work, there is a higher propensity to spend money on equipment that improve the comfort and standard of living at home. In conclusion, India's growing urbanization and household sector are major factors driving the AC industry since they raise housing demand, increase disposable incomes, and promote a cultural shift that views air conditioning as a necessary component of contemporary life.
Growth of Housing Societies and Development of Real Estate
The demand for air conditioners in India is mostly driven by the development of new housing societies and the general growth of the real estate industry. The government's programs like Housing for All and Smart Cities Mission, along with the country's growing middle-class population, have caused a sharp rise in residential building projects in both urban and semi-urban areas. In addition to accommodating the expanding population, new home developments use contemporary features like air conditioning to draw in customers looking for ease and comfort. The demand for split air conditioners and central air conditioning systems is directly increased by developers who frequently incorporate these features into their constructions.
Furthermore, the real estate industry is growing to encompass institutional and commercial structures such as shopping centers, hospitals, schools, and offices in addition to residential properties. Efficient cooling solutions are necessary for each of these segments in order to maintain interior comfort levels, improve productivity, and draw in customers or tenants. The need for air conditioning systems is further fueled by the growth of shopping centers and retail stores in metropolitan regions.
There is a parallel rise in the installation of commercial-grade air conditioning equipment as these areas enlarge and undergo upgrades to comply with international requirements. The growth of housing societies and real estate development drives the AC industry by generating a steady flow of demand from the institutional, commercial, and residential domains. In addition to increasing sales of air conditioners, this increase propels technological developments in energy efficiency and intelligent cooling systems to fulfill the changing demands of contemporary buildings.
North India Air Conditioners Market Overview:
The northern part of the nation rises to prominence in the India air conditioner market for a number of important reasons. North India has harsh weather all year round, with sweltering summers and frequently humid conditions that make air conditioners quite popular. This weather factor consistently and significantly boosts fan sales in the commercial, industrial, and residential domains.
In addition, the northern region includes a number of densely populated states and metropolises, including Delhi-NCR, Uttar Pradesh, Punjab, Haryana, and Rajasthan, which together account for a sizeable portion of the air conditioner market. Cities like Delhi, Gurgaon, Noida, and Chandigarh are experiencing rapid urbanization and infrastructural development, which is driving up demand for cooling appliances including air circulators, pedestal fans, and ceiling fans.
Supermarkets, hypermarkets, and specialty electronics stores are just a few of the strong retail networks in North India that guarantee a large selection of air conditioners to suit the various tastes and price ranges of customers. The area has become a significant and influential segment in the India air conditioner market as a result of manufacturers and distributors deliberately focusing on it to take advantage of its advantages in terms of population and climate.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $3.38 Billion |
| Forecasted Market Value (USD) by 2032 | $11.69 Billion |
| Compound Annual Growth Rate | 14.7% |
| Regions Covered | India |
India Air Conditioners Market News
- In February 2024, In India, Panasonic unveiled its newest range of air conditioners, which includes cutting-edge models like Matter-enabled Room ACs powered by Miraie. 2024 inverter ACs and 7-in-1 convertible room air conditioners were among the products introduced. Additionally, Panasonic added 60 new models to their AC lineup.
- In 2024, Goodman unveiled a brand-new range of heat pumps and inverter air conditioners. With silent, premium-style performance, Goodman's most recent split system, side-discharge air conditioners, and heat pumps are designed to maximize space in patios, rooftops, and backyards. These small units are perfect for houses where there aren't many installation alternatives. With its inverter-driven variable-speed technology, the new Goodman SD is surprisingly smaller and lighter than traditional cube-style units - it requires just 4 inches of clearance and weighs up to 53% less. It also occupies 40% less space.
- In 2024, The newest range of 'super heavy-duty' air conditioners from Haier Appliances India has supersonic cooling and a hexa inverter. The enhanced comfort, dependability, and performance of these units are guaranteed by their design, which prioritizes energy conservation while providing ideal cooling in harsh conditions.
Company Analysis:
- Voltas Limited
- Blue Star Limited
- Havells India Limited
- Whirlpool of India Limited
- Godrej and Boyce Manufacturing Company Limited
- MIRC Electronics Limited
- Johnson Controls-Hitachi Air Conditioning India Limited
Type - Market breakup in 4 viewpoints:
- Room Air Conditioner
- Ducted Air Conditioner
- Ductless Air Conditioner
- Centralized Air Conditioner
Product Types - Market breakup in 3 viewpoints:
- Split AC
- Window AC
- Other AC
Size - Market breakup in 4 viewpoints:
- 1 Ton
- 1.5 Ton
- 2 Ton
- Others
Application - Market breakup in 6 viewpoints:
- Residential
- Commercial & Retail Application
- Hospitality
- Transportation & Infrastructure
- Healthcare
- Others Applications
Sales Channel - Market breakup in 3 viewpoints:
- Small Retailers
- Modern Retail/ MBO
- Online
Regions - Market breakup in 4 viewpoints:
- North
- South
- West
- East
For more information about this report visit https://www.researchandmarkets.com/r/pxd1wx
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