Dublin, Sept. 14, 2021 (GLOBE NEWSWIRE) -- The "India Air Cooler Market (2021-2027): Market Forecast by Sectors), by End User, by Types, by Tank Capacity, by Distribution Channels, by Regions and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
India's Air Cooler Market size is projected to grow at a CAGR of 14.6% during 2021-27.
With the rising middle-class population, increasing heatwave, growing work from home culture, better availability of electricity in villages and a comparative price edge of the air coolers over the air conditioners, the air cooler market forecast is expected to show positive growth in the future. In terms of market segment by types, desert coolers dominated the air cooler market in 2020 owing to their large capacity, affordable prices and easy availability and accessibility at both the organized and the unorganized sectors of the market.
The government initiatives for rural upliftment, rising urbanization and discretionary spending, amended industrial norms coupled with the upcoming stream of projects in the residential sector are expected to drive the demand for desert air coolers in the country over the coming years.
Further tower and personal air coolers could also see a splurge in their share in the coming years owing to the changing consumer preferences towards new and innovative products, surging e-commerce sales increased brand variants and stock-keeping units (SKUs).
India Air Cooler Market Synopsis
India Air Cooler Market has been encountering significant growth over the past few years on the back of rising temperature, increasing urbanization, growing lower middle-class population, surging infrastructural development, strengthening the residential sector, burgeoning rural electrification programme and rising disposable income.
However, the outbreak of COVID-19 during the year 2020 has resulted in the degradation of sales as a result of the supply chain disruptions, irregular working days, shorter operational hours and the closure of the organized retail sector, including malls and big retail chains. Additionally, change in the spending priorities of the consumers and deferring purchase behavior during the first wave of covid-19, contributed to the misery even more.
Market Analysis by Type
Based on types, Desert coolers dominated the India air cooler market revenues and volume during the year 2020 with a CAGR of 2.2%.
Owing to its large capacity, affordable prices and easy availability and accessibility at both the organized and the unorganized sector of the market, desert coolers are anticipated to gain growth in India Air Cooler Market. The price-value proposition and the exemplary effectiveness of desert air coolers in dry climatic conditions proved to be the major contributors to the growth of desert coolers in India.
Further government initiatives for rural upliftment such as Pradhan Mantri Gramin Awaas Yojana, electronic National Agriculture Market (eNAM), amended industrial norms coupled with the upcoming stream of projects in the residential sector are expected to drive the demand for desert air coolers in the country over the coming years.
Market Analysis by Applications
Based on the applications, the residential sector has dominated the air cooler market revenues and volume in 2020 and is likely to maintain its dominance in the market over the coming years, due to the large proportion of the population in the lower- and middle-income class that prefers to buy air coolers over air conditioners as these are relatively inexpensive.
With the low purchasing and operational cost of air coolers and the rising government initiative to meet the housing and development requirements including "Housing for All" and the "Smart City Project", the residential sector held a dominant share in the overall air cooler market revenues in India.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1. Report Description
2.2. Key Highlights of the Report
2.3. Market Scope & Segmentation
2.4. Research Methodology
2.5. Assumptions
3. India Air Cooler Market Overview
3.1. India Air Cooler Market Revenues and Volume, 2017-2027F
3.2. India Air Cooler Market - Industry Life Cycle
3.3. India Air Cooler Market - Ecosystem
3.4. India Air Cooler Market - India Air Cooler Market - Porter's Five Forces
3.5. India Air Cooler Market Revenue Share, By Types, 2020 & 2027F
3.6. India Air Cooler Market Revenue Share, By Applications, 2020 & 2027F
3.7. India Air Cooler Market Revenue Share, By Regions, 2020 & 2027F
4. India Air Cooler Market - Impact Analysis of Covid 19
5. India Air Cooler Market Dynamics
5.1. Impact Analysis
5.2. Market Drivers
5.3. Market Restraints
6. India Air Cooler Market Trends and Evolution
7. India Air Cooler Market Overview, By Types
7.1. India Air Cooler Market Revenues and Volume, By Desert Air Coolers, 2017-2027F
7.2. India Air Cooler Market Revenues and Volume, By Tower Air Coolers, 2017-2027F
7.3. India Air Cooler Market Revenues and Volume, By Personal Air Coolers, 2017-2027F
7.4. India Air Cooler Market Revenues and Volume, By Window Air Coolers, 2017-2027F
8. India Air Cooler Market Overview, By Applications
8.1. India Air Cooler Market Revenues and Volume, By Residential Application, 2017-2027F
8.2. India Air Cooler Market Revenues and Volume, By Commercial Application, 2017-2027F
9. India Air Cooler Market Overview, By Regions
9.1. India Air Cooler Market Revenues and Volume, By Northern Region, 2017-2027F
9.2. India Air Cooler Market Revenues and Volume, By Southern Region, 2017-2027F
9.3. India Air Cooler Market Revenues and Volume, By Eastern Region, 2017-2027F
9.4. India Air Cooler Market Revenues and Volume, By Western Region, 2017-2027F
10. India Air Cooler Market - Key Performance Indicators
11. India Air Cooler Market - Opportunity Assessment
11.1. India Air Cooler Market Opportunity Assessment, By Types, 2027F
11.2. India Air Cooler Market Opportunity Assessment, By Applications, 2027F
11.3. India Air Cooler Market Opportunity Assessment, By Regions, 2027F
12. India Air Cooler Market Competitive Landscape
12.1. India Air Cooler Market Volume Share, By Companies, 2020
12.2. India Air Cooler Market Competitive Benchmarking, By Technical Parameters
12.3. India Air Cooler Market Competitive Benchmarking, By Operating Parameters
13. Company Profiles
- Bajaj Electricals Limited
- Crompton Greaves Consumer Electricals Limited
- Groupe SEB India Private Limited (Maharaja Whiteline)
- Havells India Limited
- Hindware Appliances
- Kenstar
- Orient Electric Limited
- Symphony Limited
- Usha International Limited
- Voltas Limited
For more information about this report visit https://www.researchandmarkets.com/r/155chq
