DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/tf6zdr/sectoral_capsule) has announced the addition of the "Sectoral Capsule - Indian Air Conditioner Industry - Ready for Change" report to their offering.
Globally, air conditioner sales doubled itself in 2011 from 2001, with the number reaching 100 million units in 2011. However, the growth dropped by 3 percent to 97 million units in 2012 due to economic slowdown in European countries and China. The Chinese air conditioner market, which is the largest globally, saw a dip of 8 percent in total sales in 2012.
The total demand in European market decreased 18 percent, while the US and Japan saw a rise of 2 and 2.6 percent, respectively. The Asian and American economies were the major growth drivers which, in turn, stimulated expansion in the Asian compressor market. China and South-East Asia have become important destinations for the production of centrifugal compressors and other machine parts.
The desire for a better lifestyle with smart home products has brought about a revolution in the consumer durables market. With huge climatic variations in India, all-weather air conditioners have become an important part of a comfortable and modern lifestyle. The overall household penetration of air conditioners in India is comparatively low when compared to other South East Asian countries like Indonesia, Singapore Korea and Taiwan. China, a neighbouring country, has a household penetration of almost 53 percent as compared to 3.8 percent penetration in India in 2013.
With split air conditioners becoming more dominant, big players like Blue Star have slowly reduced their research and development (R&D) expenditure on window AC.
The companies have their task cut out as price war could lead to shrinkage of market space. The companies need to invest heavily on Research and Development (R & D) in order to innovate products with better features thereby having a higher level of customer penetration
Key Topics Covered:
Overview of Consumer Durables Market in India
Consumer Durable Categories
Air Conditioners: Global Scenario
Air Conditioner Households in India
The Indian Air Conditioner Market
For more information visit http://www.researchandmarkets.com/research/tf6zdr/sectoral_capsule
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