India Air Cooler Market Overview
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 program and rising disposable income.
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.
According to 6Wresearch, India Air Cooler Market size is projected to grow at 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 sector 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).
Key Highlights of the Report:-
- India Air Cooler Market Overview
- India Air Cooler Market Outlook
- Market Drivers and Restraints
- India Air Cooler Market Trends
- Industry Life Cycle
- Porter’s Five Forces Model
- Market Opportunity Assessment
- India Air Cooler Market Share, By Companies
- Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
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