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    India Air Conditioner Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

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    Mar 2023
    Pages: 170

    India Air Conditioner Market Outlook

    India Air Conditioner Market is projected to reach US$ 6.73 Billion by 2028 growing with CAGR of 14.74% from 2022 to 2028. As India's population continues to grow and its economy undergoes a transformation, the air conditioning industry has emerged as one of the fastest-growing industries in the country. The changing lifestyles of Indian consumers, including the rise of nuclear families, single-person households, and job migration, have created a growing need for accessible and convenient products that reduce the time and effort spent on everyday chores. Increased affordability, a focus on energy efficiency, digital penetration, and rising aspirations are driving the industry's growth.

     

    India-air-conditioner-market

    India's regulatory and business environment has undergone significant changes, including the introduction of the Goods and Services Tax (GST) and upcoming policies such as the national policy for electronics (NPE), which could bring about further policy changes for the industry. The burgeoning middle class in urban areas and aspirational demand from rural India, coupled with increasing electrification of rural areas and the popularity of online sales, are likely to fuel demand and drive exponential growth.


    The growth in India's consumer market demand is driven primarily by rising disposable incomes and easy access to credit, which in turn has increased purchasing power. While two-thirds of the total revenue is generated from urban inhabitants, rural inhabitants are also contributing to the growth of the industry. According to this research report The Indian Air Conditioner Market was valued at US$ 2.95 Billion in 2022.


    Increasing demand from the Residential Sector will drive the Room AC Market

    By Type, India’s AC Market has divided into Room Air Conditioner, Ducted Air Conditioner, Ductless Air Conditioner and Centralized Air Conditioner. The Indian market for room air conditioners is among the world's largest and has witnessed rapid growth in recent times. The surge in demand for residential air conditioners has been a key driver of this growth, owing to an increasing number of middle-class households with higher disposable incomes seeking home appliances like air conditioners. Besides, the trend of urbanization has led to more people living in compact apartments and homes, leading to a need for smaller and efficient air conditioning solutions.

    Meanwhile, the centralized air conditioning sector in India has also experienced steady growth in recent years, primarily due to rising demand from various sectors such as commercial buildings, hospitals, and industries. The growth of the industry can be attributed to factors such as increasing disposable incomes, evolving lifestyles, and rising temperatures as a result of climate change. Additionally, the government's focus on infrastructure development, including the construction of smart cities, presents significant growth opportunities for the industry. The adoption of energy-efficient technologies and eco-friendly refrigerants is expected to further drive the industry's growth in the future.


    Increasing Urbanization and Rising Disposable Incomes Surge the Demand of Split AC

    Indian Air Conditioner market is divided into three categories based on product type: Windows Air Conditioner (AC), Split Air Conditioner (AC), and Other Air Conditioner (AC). India's split air conditioner (AC) industry is expected to sustain its growth trajectory in the coming years, driven by factors such as rising urbanization, growing disposable incomes, and heightened awareness of air quality and energy efficiency. The adoption of inverter technology is one of the industry's significant trends, offering superior energy efficiency and reduced electricity bills. The Indian government's initiatives to promote energy-efficient appliances, such as the Bureau of Energy Efficiency's (BEE) star rating system for ACs, have also contributed to the industry's expansion by boosting demand for higher-rated split ACs.

    Meanwhile, the window AC industry in India has experienced a slower growth rate than split ACs in recent years. Nonetheless, the industry remains a crucial segment of the Indian AC market in terms of volume. It has faced challenges due to competition from split ACs and the need for regular maintenance.


    By Size: 1.5 Ton AC will Capture more Revenue in India

    Based on Size, Indian AC Market has been Sub-divided into 1 Ton, 1.5 Ton, 2 Ton and More Than 2 Ton. The Indian AC industry has a significant portion devoted to 1.5 ton AC units, which command a substantial share of the market. The industry's growth is driven by a balance between cooling capacity and energy efficiency, making it a preferred choice for households and small offices. The adoption of inverter technology is expected to further boost the industry, providing greater energy efficiency and lower electricity bills. Moreover, the industry is poised to capitalize on the growing trend of smart homes, where air conditioning systems can be controlled remotely using smartphones or other smart devices.

    In India, Consumers favor the compact size of 1 ton & 1.5 ton AC units, making them an ideal choice for smaller rooms or apartments. The industry is also expected to benefit from advancements in inverter technology, which will enhance energy efficiency and reduce electricity costs.


    Increasing Understanding of the Value of Residential Air Conditioning for Comfort and Health

    By Application, India AC Industry was segmented into Residential, Commercial & Retail Application, Hospitality, Transportation & Infrastructure, Healthcare and Others Applications. The residential air conditioner (AC) market is an essential and expanding segment of the overall AC market in India. Its growth is driven by several factors, such as increasing urbanization, rising temperatures caused by climate change, rising disposable incomes, and growing awareness of the significance of air conditioning for health and comfort. The residential AC market includes various types of ACs, such as window ACs, split ACs, and portable ACs.

    India's commercial and retail air conditioning (AC) industry is poised to grow in the upcoming years, owing to various factors. The market's expansion is driven by the increasing demand for air conditioning in commercial and retail spaces, the growth of urban areas, and the expansion of the retail and hospitality sectors. The Indian commercial and retail AC industry is expected to experience substantial growth in the near future, propelled by the adoption of energy-efficient and environment friendly cooling systems and the surging demand for air conditioning in commercial and retail spaces.


    Increasing adoption of E-Commerce Platforms and the Growing Preference for Online Shopping is driving the Online Sales

    Based on Sales Channel, Indian AC Market divided into Small Retailers, Modern Retail/ MBO, and Online (E-Commerce). In recent years, the online air conditioning (AC) industry in India has experienced substantial growth due to the rising adoption of e-commerce platforms and the increasing preference for online shopping. The availability of a vast array of AC brands and models, competitive pricing, and the convenience of doorstep delivery and installation services has all contributed to the industry's growth in India.

    Small AC retailers in India have a crucial role in the air conditioning industry, especially in tier 2 and tier 3 cities where they cater to the local demand for ACs. These retailers typically operate small shops or showrooms that offer a range of AC brands and models, along with installation and after-sales services. Despite the growth of online sales, small retailers continue to play a vital role in the air conditioning industry, particularly in smaller cities and towns, by providing personalized services and meeting the specific needs of their local customers.


    Western part of India will have Larger Market Share due to high demand in Upcoming Years

    By Regions, India AC Sector segmented into South, West, North and East. The western region, consisting of states like Maharashtra, Gujarat, and Rajasthan, is a significant market for air conditioning (AC) in India, due to high temperatures and humidity levels that drive demand in residential, commercial, and industrial spaces. Similarly, the North India AC market, which comprises states like Delhi, Punjab, Haryana, Uttar Pradesh, and Uttarakhand, is also substantial, with extreme temperatures driving demand for ACs in residential and commercial spaces. The split AC dominates the North India market, followed by window ACs and portable ACs. Additionally, the commercial and industrial sectors, particularly in cities like Delhi, Noida, and Gurgaon, have a high demand for ACs, while the hospitality industry, including hotels, resorts, and restaurants, is also driving the demand for ACs.


    Key Company Analysis

    Voltas Industries, Blue Star Industries, Havells India Limited, Whirlpool of India Limited, Godrej and Boyce Manufacturing Company Limited, MIRC Electronics Limited and Johnson Controls-Hitachi Air Conditioning India Limited are few of the prominent companies.

    Blue Star, India's premier air conditioning brand, announced its new complete line of ACs for this summer season in February 2023, featuring a 'best-in-class inexpensive' range and a 'flagship premium' range. To cater to every customer category, the Company has released almost 75 models spanning the range of inverter, fixed speed, and Window ACs, as well as across pricing points.


    Renub Research report titled "India Air Conditioner Market Forecast by Type (Room Air Conditioner, Ducted Air Conditioner, Ductless Air Conditioner and Centralized Air Conditioner), Product Type (Windows AC, Split AC and Other AC), Size (1 Ton, 1.5 Ton, 2 Ton and More Than 2 Ton), Application (Residential, Commercial & Retail Application, Hospitality, Transportation & Infrastructure, Healthcare and Others Applications) Sales Channels (Small Retailers, Modern Retail/ MBO and Online), Region (North,South, West and East), Company Analysis (Voltas Industries, Blue Star Industries, Havells India Limited, Whirlpool of India Limited, Godrej and Boyce Manufacturing Company Limited, MIRC Electronics Limited and Johnson Controls-Hitachi Air Conditioning India Limited)” provides a detailed analysis of India Air Conditioner Market.

    india-air-conditioner-market-share


    By Type

    1.    Room Air Conditioner
    2.    Ducted Air Conditioner
    3.    Ductless Air Conditioner
    4.    Centralized Air Conditioner


    By Product Type

    1.    Windows AC
    2.    Split AC
    3.    Other AC


    By Size

    •    1 Ton
    •    1.5 Ton
    •    2 Ton
    •    More Than 2 Ton


    By Application

    1.    Residential
    2.    Commercial & Retail Application
    3.    Hospitality
    4.    Transportation & Infrastructure
    5.    Healthcare 
    6.    Others Applications


    By Sales Channels

    1.    Small Retailers
    2.    Modern Retail/ MBO
    3.    Online


    By Region

    1.    North
    2.    South
    3.    West 
    4.    East


    By Company Analysis

    1.    Voltas Industries
    2.    Blue Star Industries
    3.    Havells India Limited
    4.    Whirlpool of India Limited
    5.    Godrej and Boyce Manufacturing Company Limited
    6.    MIRC Electronics Limited 
    7.    Johnson Controls-Hitachi Air Conditioning India Limited


    Report Details:

    Report Features Details
    Base Year 2022
    Historical Period 2018 - 2022
    Forecast Period 2023 - 2028
    Market US$ Billion
    Segment Covered Type, Product Type, Size, Application, Sales Channels, and Regions
    Regions Covered North, South, West, and East
    Companies Covered Voltas Industries, Blue Star Industries, Havells India Limited, Whirlpool of India Limited, Godrej and Boyce Manufacturing Company Limited, MIRC Electronics Limited and Johnson Controls-Hitachi Air Conditioning India Limited
    Customization Scope 20% Free Customization
    Post-Sale Analyst Support 1 Year (52 Weeks)
    Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on request)

    1.    Introduction

    2.    Research & Methodology

    3.    Executive Summary

    4.    Market Dynamics

    4.1    Growth Drivers
    4.2    Challenges


    5.    PESTLE Analysis

    5.1    Political
    5.2    Economic
    5.3    Social
    5.4    Technological
    5.5    Legal
    5.6    Environmental


    6.    India Air Conditioner Market

    7.    Share Analysis - India Air Conditioner Market

    7.1    By Types
    7.2    By Products Types
    7.3    By Size
    7.4    By Applications
    7.5    By Sales Channels
    7.6    By Regions


    8.    Types - India Air Conditioner Market

    8.1    Room Air Conditioner
    8.2    Ducted Air Conditioner
    8.3    Ductless Air Conditioner
    8.4    Centralized Air Conditioner


    9.    Products Types – India Air Conditioner Market

    9.1    Split AC
    9.2    Window AC
    9.3    Other AC


    10.    Size – India Air Conditioner Market

    10.1    1 Ton
    10.2    1.5 Ton
    10.3    2 Ton
    10.4    Others


    11.    Applications - India Air Conditioner Market

    11.1    Residential
    11.2    Commercial & Retail Application
    11.3    Hospitality
    11.4    Transportation & Infrastructure
    11.5    Healthcare
    11.6    Others Applications


    12.    Sales Channels – India Air Conditioner Market

    12.1    Small Retailers
    12.2    Modern Retail/ MBO
    12.3    Online


    13.    Regions – India Air Conditioner Market

    13.1    North
    13.2    South
    13.3    West
    13.4    East


    14.    Company Analysis

    14.1    Voltas Limited

    14.1.1    Overview
    14.1.2    Resent Development
    14.1.3    Revenue

    14.2    Blue Star Limited

    14.2.1    Overview
    14.2.2    Resent Development
    14.2.3    Revenue

    14.3    Havells India Limited

    14.3.1    Overview
    14.3.2    Resent Development
    14.3.3    Revenue

    14.4    Whirlpool of India Limited

    14.4.1    Overview
    14.4.2    Resent Development
    14.4.3    Revenue

    14.5    Godrej and Boyce Manufacturing Company Limited

    14.5.1    Overview
    14.5.2    Resent Development
    14.5.3    Revenue

    14.6    MIRC Electronics Limited

    14.6.1    Overview
    14.6.2    Resent Development
    14.6.3    Revenue

    14.7    Johnson Controls-Hitachi Air Conditioning India Limited

    14.7.1    Overview
    14.7.2    Resent Development
    14.7.3    Revenue


    List of Figures:

    Figure-01:    India – Air Conditioner Market (Billion US$), 2018 – 2022
    Figure-02:    India – Forecast for Air Conditioner Market (Billion US$), 2023 – 2028
    Figure-03:    Types – Room Air Conditioner Market (Million US$), 2018 – 2022
    Figure-04:    Types – Forecast for Room Air Conditioner Market (Million US$), 2023 – 2028
    Figure-05:    Types – Ducted Air Conditioner Market (Million US$), 2018 – 2022
    Figure-06:    Types – Forecast for Ducted Air Conditioner Market (Million US$), 2023 – 2028
    Figure-07:    Types – Ductless Air Conditioner Market (Million US$), 2018 – 2022
    Figure-08:    Types – Forecast for Ductless Air Conditioner Market (Million US$), 2023 – 2028
    Figure-09:    Types – Centralized Air Conditioner Market (Million US$), 2018 – 2022
    Figure-10:    Types – Forecast for Centralized Air Conditioner Market (Million US$), 2023 – 2028
    Figure-11:    Products Types – Split AC Market (Million US$), 2018 – 2022
    Figure-12:    Products Types – Forecast for Split AC Market (Million US$), 2023 – 2028
    Figure-13:    Products Types – Window AC Market (Million US$), 2018 – 2022
    Figure-14:    Products Types – Forecast for Window AC Market (Million US$), 2023 – 2028
    Figure-15:    Products Types – Other AC Market (Million US$), 2018 – 2022
    Figure-16:    Products Types – Forecast for Other AC Market (Million US$), 2023 – 2028
    Figure-17:    Size – 1 Ton AC Market (Million US$), 2018 – 2022
    Figure-18:    Size – Forecast for 1 Ton AC Market (Million US$), 2023 – 2028
    Figure-19:    Size – 1.5 Ton AC Market (Million US$), 2018 – 2022
    Figure-20:    Size – Forecast for 1.5 Ton AC Market (Million US$), 2023 – 2028
    Figure-21:    Size – 2 Ton AC Market (Million US$), 2018 – 2022
    Figure-22:    Size – Forecast for 2 Ton AC Market (Million US$), 2023 – 2028
    Figure-23:    Size – Others AC Market (Million US$), 2018 – 2022
    Figure-24:    Size – Forecast for Others AC Market (Million US$), 2023 – 2028
    Figure-25:    Applications – Residential AC Market (Million US$), 2018 – 2022
    Figure-26:    Applications – Forecast for Residential AC Market (Million US$), 2023 – 2028
    Figure-27:    Applications – Commercial & Retail Application AC Market (Million US$), 2018 – 2022
    Figure-28:    Applications – Forecast for Commercial & Retail Application AC Market (Million US$), 2023 – 2028
    Figure-29:    Applications – Hospitality AC Market (Million US$), 2018 – 2022
    Figure-30:    Applications – Forecast for Hospitality AC Market (Million US$), 2023 – 2028
    Figure-31:    Applications – Transportation & Infrastructure AC Market (Million US$), 2018 – 2022
    Figure-32:    Applications – Forecast for Transportation & Infrastructure AC Market (Million US$), 2023 – 2028
    Figure-33:    Applications – Healthcare AC Market (Million US$), 2018 – 2022
    Figure-34:    Applications – Forecast for Healthcare AC Market (Million US$), 2023 – 2028
    Figure-35:    Applications – Others Applications AC Market (Million US$), 2018 – 2022
    Figure-36:    Applications – Forecast for Others Applications AC Market (Million US$), 2023 – 2028
    Figure-37:    Sales Channels – Small Retailers Market (Million US$), 2018 – 2022
    Figure-38:    Sales Channels – Forecast for Small Retailers Market (Million US$), 2023 – 2028
    Figure-39:    Sales Channels – Modern Retail/ MBO Market (Million US$), 2018 – 2022
    Figure-40:    Sales Channels – Forecast for Modern Retail/ MBO Market (Million US$), 2023 – 2028
    Figure-41:    Sales Channels – Online Market (Million US$), 2018 – 2022
    Figure-42:    Sales Channels – Forecast for Online Market (Million US$), 2023 – 2028
    Figure-43:    North – Air Conditioner Market (Million US$), 2018 – 2022
    Figure-44:    North – Forecast for Air Conditioner Market (Million US$), 2023 – 2028
    Figure-45:    South – Air Conditioner Market (Million US$), 2018 – 2022
    Figure-46:    South – Forecast for Air Conditioner Market (Million US$), 2023 – 2028
    Figure-47:    West – Air Conditioner Market (Million US$), 2018 – 2022
    Figure-48:    West – Forecast for Air Conditioner Market (Million US$), 2023 – 2028
    Figure-49:    East – Air Conditioner Market (Million US$), 2018 – 2022
    Figure-50:    East – Forecast for Air Conditioner Market (Million US$), 2023 – 2028
    Figure-51:    Voltas Limited – Global Revenue (Million US$), 2018 – 2022
    Figure-52:    Voltas Limited – Forecast for Global Revenue (Million US$), 2023 – 2028
    Figure-53:    Blue Star Limited – Global Revenue (Million US$), 2018 – 2022
    Figure-54:    Blue Star Limited – Forecast for Global Revenue (Million US$), 2023 – 2028
    Figure-55:    Havells India Limited – Global Revenue (Million US$), 2018 – 2022
    Figure-56:    Havells India Limited – Forecast for Global Revenue (Million US$), 2023 – 2028
    Figure-57:    Whirlpool of India Limited – Global Revenue (Million US$), 2018 – 2022
    Figure-58:    Whirlpool of India Limited – Forecast for Global Revenue (Million US$), 2023 – 2028
    Figure-59:    Godrej and Boyce Manufacturing Company Limited – Global Revenue (Million US$), 2018 – 2022
    Figure-60:    Godrej and Boyce Manufacturing Company Limited – Forecast for Global Revenue (Million US$), 2023 – 2028
    Figure-61:    MIRC Electronics Limited – Global Revenue (Million US$), 2018 – 2022
    Figure-62:    MIRC Electronics Limited – Forecast for Global Revenue (Million US$), 2023 – 2028
    Figure-63:    Johnson Controls-Hitachi Air Conditioning India Limited – Global Revenue (Million US$), 2018 – 2022
    Figure-64:    Johnson Controls-Hitachi Air Conditioning India Limited – Forecast for Global Revenue (Million US$), 2023 – 2028


    List of Tables:

    Table-01:    India – Air Conditioner Market Share by Types (Percent), 2018 – 2022
    Table-02:    India – Forecast for Air Conditioner Market Share by Types (Percent), 2023 – 2028
    Table-03:    India – Air Conditioner Market Share by Products Types (Percent), 2018 – 2022
    Table-04:    India – Forecast for Air Conditioner Market Share by Products Types (Percent), 2023 – 2028
    Table-05:    India – Air Conditioner Market Share by Size (Percent), 2018 – 2022
    Table-06:    India – Forecast for Air Conditioner Market Share by Size (Percent), 2023 – 2028
    Table-07:    India – Air Conditioner Market Share by Applications (Percent), 2018 – 2022
    Table-08:    India – Forecast for Air Conditioner Market Share by Applications (Percent), 2023 – 2028
    Table-09:    India – Air Conditioner Market Share by Sales Channels (Percent), 2018 – 2022
    Table-10:    India – Forecast for Air Conditioner Market Share by Sales Channels (Percent), 2023 – 2028
    Table-11:    India – Air Conditioner Market Share by Region (Percent), 2018 – 2022
    Table-12:    India – Forecast for Air Conditioner Market Share by Region (Percent), 2023 – 2028

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