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Air Conditioning Market in India - Drivers and Growth Analysis by TechnavioTechnavio analysts forecast the air conditioning market in India to grow at a CAGR of over 10% during the forecast period, according to their latest report. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170823005432/en/ 
Technavio has published a new report on the air conditioning market in India from 2017-2021. (Graphic: Business Wire) The research study covers the present scenario and growth prospects of the air conditioning market in India for 2017-2021. The market has two segmentations, residential and commercial markets. The products under consideration are window ACs and split ACs. In India, ACs are no longer considered luxury goods and are being accepted as necessary products. Although the penetration of these machines is low, the market holds a lot of potential in terms of volume and value. The demand for ACs in rural areas is low. Hence, companies should start attracting rural customers to increase their volumes sales. Rural customers prefer cost-effective and seek durable and maintenance-free products. Vendors should invest in R&D to develop products, which satisfy the needs of rural customers. This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. Technavio analysts highlight the following three factors that are contributing to the growth of the air conditioning market in India.
Looking for moe information on this market? Request a free sample report Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Increase in electronic retail store and e-commerce Electronic retail stores are organized stores where electronic goods of different brands are available. These stores are expected to grow at a CAGR around 2% during the forecast period. Indian consumers demand stores that offer a good ambiance, multiple brands, and correctly priced goods under one roof. The increase in changing lifestyle and rise in the income of consumers are driving the electronic retail market in India. Sharan Jagannath, a lead retail goods and services research analyst at Technavio, says, "Internet penetration, ease of online application, and busy lifestyles are some of the key driving factors for consumers to use e-commerce as a platform to purchase products. Tangible things like easy payment, home delivery, cash on delivery, order cancellation, and order replacements are some of the other features encouraging Indian consumers to use e-commerce." Global warming and increase in pollution rate The sale of ACs in the country increases between March-end and early-April. Due to climate changes, temperature increases to record high in February in cities such as Bengaluru, Mumbai, Chennai, and other tier-II cities. This also increases the sales of ACs by 18% to 20%. Due to early climate change, some vendors experience high demand from banking departments because of branch expansions and installation of new ATMs. "Release of excess carbon-dioxide and rise in the level of greenhouse gas have made vendors develop ACs that cool and purify the air of the rooms. Blue Star, an AC manufacturing company, based in Mumbai, collaborated with Chinese and US companies to develop air conditioners that have built-in purifiers. The company is using the technology built by Indian universities to develop the most efficient ACs of the country," adds Sharan. Government scheme on energy-efficient ACs The union government of India is launching a scheme to reduce the prices of energy efficient ACs. This scheme will encourage the middle-class population to buy ACs at very low price. Energy-efficient ACs have lower power consumption than normal traditional ACs. The implementation of this scheme is expected to lead to a price cut of 15% to 20% on electricity bills. The government will procure energy efficient ACs from all the leading vendors such as Daikin and Voltas in bulk and offer them to consumers at zero down payment schemes. This will encourage consumers to prefer energy-efficient products. The initial target of EESL is to collaborate with buyers and banks (for ATM and official purposes). Top vendors:
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About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. If you are interested in more information, please contact our media team at [email protected].
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