- The key vendors in the Air Conditioning Market in India 2014-2018 are Blue Star Ltd., Daikin Industries Ltd., Godrej Industries Ltd., LG Electronics Inc., Panasonic Corp., Samsung Group and Voltas Ltd.
London, 18 November 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Air Conditioning Market in India 2014-2018. The market is witnessing an increase in the use of green technologies. Market vendors are increasingly adopting green technologies to create energy-efficient and eco-friendly air conditioning systems. Introduction of hybrid systems and non-polluting refrigerants have led to the provision and adoption of green technologies by vendors and end-users, respectively. The market is expected to post a CAGR of 12.23 percent during the forecast period of 2014-2018.
India has witnessed an upsurge in the adoption of split air conditioners over the past few years because of the plethora of advantages they offer compared with window air conditioners. Split air conditioners create less noise during operation, and are therefore ideal for residential applications. Moreover, they have more aesthetic appeal and fit the styling of the room. Consequently, the adoption of split air conditioners in the residential sector is likely to increase. Importantly, most split air conditioner models available in the market have a five-star rating, making them an ideal choice for the Commercial sector.
“Monitoring systems keep track of energy usage and intelligent technologies control the energy output of an air conditioning system and provide energy according to the demand or requirement,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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