India air conditioning market is forecast to grow at one of the highest CAGR of 6.8% during the forecast period. Hot climatic conditions, increasing urbanization, expanding the middle-class population, and increasing per capita disposable income are some of the major factors that are contributing to the market growth. The air conditioning market accounts for around 60% of the total electricity load in hot climates on summer days, especially in metropolitan cities of the country such as Delhi. Furthermore, there is a requirement of more power plants, in order to meet the growing power demand, which in turn, increases the CO2 emissions in the country. All these factors are shifting the attention of the major population towards energy-efficient air-conditioning systems and motivating the market. Moreover, the rising adoption of solar energy in the country is reducing the cost of electricity production which will also motivate people to adopt air conditioners in the country.
The market is segmented on the basis of application, type, and refrigerant type. The country is expected to contribute significantly to the automotive segment, as the country is expected to be one of the fastest-growing automotive markets during the forecast period. By type, split AC is expected to hold a significant market share during the forecast period. Due to the Montreal Protocol, a significant drop in the HCFC segment will be witnessed as HCFC reduction have to reduced by 35% by 2020 and 67.5% reduction by 2025 in all developing countries.
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India Air Conditioning Market Segmentation
By Application
- Residential
- Commercial
- Industrial
- Healthcare
- Institution
- Automotive
- Others
By Type
- Splits
- Rooftop
- Indoor Packaged
- Chillers
- VRF
- AHU/FCU
By Refrigerant Type
- HCFC
- HFC
- HFO
- Natural Refrigerant
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Company Profiles
- Blue Star Ltd.
- Daikin Industries Ltd.
- ETA General Pvt. Ltd.
- Godrej Consumer Products Ltd.
- Haier Electronics Group Co. Ltd.
- Hitachi Ltd.
- LG Electronics Inc.
- Panasonic Corp.
- Samsung Electronics Co., Ltd.
- The Whirlpool Corp.
- United Technologies Corp.
- Voltas Ltd.
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