ShareIndian air conditioner market 2014 witnesses strong growth
This market is projected to record a 13% CAGR (compound annual growth rate) growth expected over the period FY 2014-2016.
While India is witnessing a strong growth in the consumer durables segment, the AC segment is highly under penetrated. However, changing environmental dynamics, urbanization and rising income levels, present this segment with a high growth potential.
Currently, more than 77% of households in urban India have a TV, 33% own a refrigerator, 17% have an air cooler, 13% own a washing machine, and just 3% own an air conditioner.
The presence of multinational companies has increased the growth potential for the market, as these players are focusing on building capabilities in the Indian market.
Now, this market is fragmented with more than 15 players vying for a share of this growing segment. The latest trend followed by these players includes the launch of low-price offerings that are being achieved through economies of scale and procurement of low cost components and materials.
The sector is projected to record a 13% CAGR (compound annual growth rate) growth expected over the period FY 2014-2016.
Source: Information provided by ReportLinker
Currently, more than 77% of households in urban India have a TV, 33% own a refrigerator, 17% have an air cooler, 13% own a washing machine, and just 3% own an air conditioner.
The presence of multinational companies has increased the growth potential for the market, as these players are focusing on building capabilities in the Indian market.
Now, this market is fragmented with more than 15 players vying for a share of this growing segment. The latest trend followed by these players includes the launch of low-price offerings that are being achieved through economies of scale and procurement of low cost components and materials.
The sector is projected to record a 13% CAGR (compound annual growth rate) growth expected over the period FY 2014-2016.
Source: Information provided by ReportLinker