India Packaged Air Conditioners Market by Condenser Type (Air Cooled, Water Cooled), By End User (Industrial, Hospitality, Offices, Others (Education, Residential, Malls, Healthcare, etc.)), By Distribution Channel (Direct, Indirect) By Region, Competition Forecast & Opportunities, 2018-2031F
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndia Packaged Air Conditioners Market by Condenser Type (Air Cooled, Water Cooled), By End User (Industrial, Hospitality, Offices, Others (Education, Residential, Malls, Healthcare, etc.)), By Distribution Channel (Direct, Indirect) By Region, Competition Forecast & Opportunities, 2018-2031F
The India packaged air conditioners market was valued at USD324.98 million in 2022 and is projected to register a CAGR of 7.65% through 2031 and is anticipated to project robust growth in the forecast period. The demand for packaged air conditioners in India is high owing to the increase in foreign direct investment into the country's numerous industries, including construction, pharmaceuticals, chemical, etc. Thus, with the growing urbanization, the number of residential and commercial construction is on rise in India, and there is rapid urban and economic growth, which is driving the demand for packaged air conditioners during the forecast period.
India Packaged Air Conditioners Market Scope
Packaged air conditioners are air conditioning systems in which all components are integrated inside a single large unit. Some packaged air conditioners have an outdoor unit with a compressor, condenser, and other components, and an air handling unit with a centrifugal blower and an air filter that is placed above the cooling coil. Based on the type of cooling mechanism they utilize; the packaged air conditioners are classified into two categories including water-cooled condensers and air-cooled condensers. The refrigeration system's condenser, which is cooled by atmospheric air, is air-cooled packaged air conditioner.
India Packaged Air Conditioners Market Overview
The India packaged air conditioners market is experiencing high demand with the increase in temperature, rise in industrialization, and increase in the number of commercial buildings, etc. According to the data provided by Indian government, the country registered a FDI inflow of around USD84.84 billion in 2021-22. Furthermore, according to the National Investment Promotion & Facilitation Agency, the government launched PLI scheme for white goods which aims to increase domestic manufacturing of air conditioners and LED lights and has an outlay of USD855 million.
Furthermore, the companies in the India packaged air conditioners market are accelerating the market growth by using innovative market techniques to drive in more customers. Thus, the market for packaged air conditioners in India is expected to rise in the coming years driven by the increasing demand for affordable, energy-efficient, and easy to install cooling solutions.
India Packaged Air Conditioners Market Drivers
With all the components of a packaged system in one location, the India Packaged Air Conditioners market is experiencing a significant growth owing to its energy efficiency, accessibility, and versatility. The organized retail sector is expected to increase, as indicated by the rise in the number of hypermarkets, supermarkets, modern grocery retail outlets, and other retail outlets.
Moreover,
India Packaged Air Conditioners Market Trends
As the packaged air conditioners market in India grows, more and more companies are competing for market share and customer engagement. One strategy used by companies to succeed is the launch of new products or improved versions of existing ones.
Many brands have established up their manufacturing facilities to meet the rising demand for residential and commercial air conditioners in the country and to expand their market reach and acquire a significant market share in the packaged air conditioners industry. Moreover, by creating innovative air conditioning equipment, the facility will meet the company's domestic and international demand.
India Packaged Air Conditioners Market Challenges
The packaged air conditioners market in India may experience a significant slowdown since packaged units are frequently installed on rooftops; hence maintenance is complex and may depend on the roof's slope.
Market Recent Developments
- Inorder to better position its products in the commercial air-conditioningmarket, Daikin Airconditioning India Private Limited has acquired the airhandling division of Ahmedabad-based Citizen Industries.
- InAndhra Pradesh, Daikin Airconditioning India Private Ltd opened its thirdfacility for the production of commercial and residential air conditioning in2022.
Market Opportunities
- Thedemand for packaged air conditioners is significant in commercial andindustrial sector in India. Offices, malls, hospitals, and other commercialbuildings require air conditioning to maintain a comfortable environment fortheir customers and employees. Packaged air conditioners are ideal for suchapplications as they can be quickly installed and provide efficient cooling.
- Withthe rising cost of electricity in India, energy efficiency has become a crucialfactor for consumers when choosing air conditioners, as packaged air conditionersare known for their high energy efficiency and low operating cost, making theman attractive option for consumers looking to save on their electricity bills.
- Inthe Indian packaged air conditioners market, the demand for inverter technologyis expected to rise. Inverter technology aids in controlling compressor speedand modifies cooling/heating output dependent on ambient temperature andprovides better energy efficiency and cost savings for consumers. Compared toconventional fixed-speed air conditioners, inverter technology offers severalbenefits. The first benefit is that it can reduce energy use by up to 30%,which lowers power costs. Second, it improves temperature management and makesusers more comfortable. Thirdly, it aids in minimizing compressor deterioration,resulting in a longer lifespan and cheaper maintenance costs. As a result, manybrands, such as Daikin, etc., offer packaged air conditioners equipped withinverter technology.
Market Segmentation
The India packaged air conditioners market is segmented on the basis of condenser type, end user, distribution channel, region and competitive landscape. On the basis of condenser type the market is fragmented into
Company Profiles
Blue Star Limited, Daikin Airconditioning India Private Limited, Voltas Limited, Carrier Airconditioning & Refrigeration Limited, Trane Technologies India Private Limited, Lennox India Technology Centre,
| Attribute | Details |
| Market Size Value in 2022 | USD 324.98 Million |
| Revenue Forecast in 2031 | USD 617.98 Million |
| Growth Rate | 7.65% |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2031 |
| Quantitative Units | Value in USD Million, Volume in Thousand Units, CAGR for 2018-2022 and 2023E-2031F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Condenser Type End User Distribution Channel Region |
| Regional scope | North, South, East, West |
| Key Companies Profiled | Blue Star Limited, Daikin Airconditioning India Private Limited, Voltas Limited, Carrier Airconditioning & Refrigeration Limited, Trane Technologies India Private Limited, Lennox India Technology Centre, Toshiba India Private Limited, Singhsons Refrigeration Private Limited, Eakcon Systems Pvt. Ltd., LG Electronics India Pvt. Ltd. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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