India Air Cooler Market (2021-2027) | Outlook, Size, Share, Revenue, Analysis, Forecast, Growth, Trends, industry & COVID-19 IMPACT

Latest Development 2023 in India Air Cooler Market

India Air Cooler Market is expected to gain proliferation during the upcoming years on account of rising urbanization. Rising disposable income coupled with surging purchasing power, especially among the middle-class population is driving the India Air Cooler Market Growth. Moreover, the increasing innovation of products by the manufacturers along with the advancement of technology is adding to the development of the India Air Cooler Industry. Rising temperature has led to the adoption of air coolers as a necessity which is further proliferating the India Air Cooler Market Share. Increasing efforts by the government in order to develop the agriculture and industrial sector is also flourishing the growth of the market.

Air Cooler Market in India is a key part of the Asia Pacific Air Cooler Market. The sector in the country is driven by numerous factors. The India Air Cooler Market share is constantly growing as this industry has taken the most crucial role in the lives of people living in the country.

India Air Cooler Market Synopsis

India Air Cooler Market has been encountering significant growth over the past few years on the back of rising temperatures, increasing urbanization, growing lower middle-class population, surging infrastructural development, strengthening the residential sector, burgeoning rural electrification program, and rising disposable income.

According to 6Wresearch, India Air Cooler Market size is projected to grow at a CAGR of 14.6% during 2021-2027.  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 in both the organized and the unorganized sectors of the market. The government initiatives for rural upliftment, rising urbanization and discretionary spending, and 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).

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 in 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.

COVID-19 Impact on India Air Cooler Market

The outbreak of COVID-19 during the year 2020 has resulted in the degradation of sales as a result of supply chain disruptions, irregular working days, shorter operational hours, and the closure of the organized retail sector, including malls and big retail chains. Additionally, changes in the spending priorities of the consumers and deferring purchase behaviour during the first wave of covid- 19, contributed to the misery even more.

Key players in the market

• Some of the key players in the India Air Cooler Market are:
• Symphony Limited
• Bajaj Electricals Limited
• Usha International Limited
• Ken Lifestyles Private Limited
• Orient Electric Limited
• Voltas Limited
• Ram Coolers
• Groupe SEB India Private Limited (Maharaja Whiteline)
• Blue Star Limited
• Havells India Limited.

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 Highlights of the Report

• India Air Cooler Market Overview.
• India Air Cooler Market Outlook.
• India Air Cooler Market Forecast.
• Historical Data and Forecast of India Air Cooler Market Revenues and Volume for the Period 2017-2027F
• Historical Data and Forecast of India Air Cooler Revenues and Volume, By Types for the Period 2017-2027F
• Historical Data and Forecast of India Air Cooler Revenues and Volume, By Applications for the Period 2017-2027F
• Historical Data and Forecast of India Air Cooler Revenues and Volume, By Regions for the Period 2017-2027F
• 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

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Product Types:

• Tower Air Cooler
• Desert Air Cooler
• Window Air Cooler
• Personal Air Cooler

By Applications:

• Residential Sector
• Commercial Sector

By Regions:

• North Region
• South Region
• East Region
• West Region