India’s Split Air Conditioning market is estimated to augment at a significant growth rate during the forecast period. Hot climatic conditions, increasing average temperature of the atmosphere, rising 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. Due to this, attention towards energy-efficient air-conditioning systems is shifting which is further 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.
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The Indian split air conditioning market is segmented on the basis of application, and refrigerant type. By application, the market is segmented into residential, commercial, industrial, and others. Residential is expected to have a major market share with a significant growth rate during the forecast period. By refrigerant type, the market is segmented into HCFC, HFC, HFO, Natural Refrigerant. Due to the Montreal Protocol, a significant drop in the HCFC and HFC segment will be witnessed as HCFC reduction have to reduced by 35% by 2020 and 67.5% reduction by 2025 in all developing countries. Natural refrigerant and HFO are expected to show a considerable growth rate during the forecast period.
India Split Air Conditioning Market Segmentation
By Application
- Residential
- Commercial
- Industrial
- Others (Healthcare)
By Refrigerant Type
- HCFCs (Hydrochlorofluorocarbons)
- HFC (Hydrofluorocarbon)
- HFO (Hydrofluro-Olefins)
- Natural Refrigerants
Company Profiles
- Blue Star Ltd.
- Daikin Industries Ltd.
- Godrej Consumer Products Ltd.
- Haier Electronics Group Co. Ltd.
- Havells India Ltd. (Lloyd)
- Hitachi Ltd.
- LG Electronics Inc.
- Panasonic Corp.
- Samsung Electronics Co., Ltd.
- The Whirlpool Corp.
- United Technologies Corp.
- Voltas Ltd.
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