Air conditioning systems comprise the largest share of total HVAC system demand globally. Growing urbanization is fueling the construction of retail, hospitality and commercial properties and, in turn, expanding the market for air conditioning systems in India. Sudden spurt in mercury levels in central, western and southern regions in the country have increased month-on-month sales for most manufacturers.
The market is mainly driven by the increasing demand of room air conditioners in residential and commercial areas. Most of the current market for air conditioning systems is concentrated in Tier-I and Tier-II cities where construction activity is the highest. As a result of the growing momentum towards smart cities, it is expected that the demand for air conditioning systems will continue to grow.
India's air conditioning market was growing with a CAGR of 6.82% over a period of five years. The India air conditioning market consists of a range of product categories such as central plant systems, VRF systems, packaged/ducted systems as well as room air conditioners.
Foreign manufacturers are continuously establishing capabilities in India to capture the room air conditioners market that is propelled by growth factors such as high disposable incomes, large base of middle-class households, and the propensity of the young workforce to spend on electrical and electronic goods.
Key Topics Covered:
1. Executive Summary
2. Global Air Conditioning Market Outlook
3. India Air Conditioning Market Outlook
4. Pricing Analysis
5. Company Profiles
- Voltas Limited
- Samsung India
- LG Electronics India Pvt. Ltd.
- Panasonic India Pvt. Ltd.
Daikin Air Conditioning India Pvt. Ltd.
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