India VRF Air Conditioner Market Outlook (2021-2027) | Value, Industry, COVID-19 IMPACT, Growth, Size, Companies, Share, Forecast, Revenue, Analysis & Trends

Market Forecast By Compressor (Air Cooled, Water Cooled), By Components (Indoor Units, Outdoor Units, Control System and Accessories), By System Types (Heat Pump System (Air-source, Ground-source, Absorption), Heat Recovery System), By Applications (Residential, Commercial, Industrial), By Regions (Northern, Western, Eastern, Southern) and competitive landscape

Product Code: ETC150320 Publication Date: Jan 2022 Product Type: Report
Publisher: 6Wresearch No. of Pages: 94 No. of Figures: 32 No. of Tables: 4

India VRF Air Conditioner Market comprehensively covers the market by the compressor, components, system types, applications, and regions. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities, high growth areas, and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India VRF Air Conditioner Market Synopsis

India VRF air conditioner market has started growing over the past few years due to the rising construction activities across airports, metro railway stations, commercial spaces, and the growing retail sector through commercial malls. Furthermore, the government's increasing spending towards public infrastructure and urbanization through initiatives such as "Smart Cities Mission" has further spurred the VRF air conditioner market in the country.

India VRF Air Conditioner Market Outlook (2021-2027) 

The COVID-19 pandemic has negatively affected the air conditioners industry in terms of lower demand due to strict lockdowns disrupting the supply chain and rise in the prices of raw materials because several manufacturers import raw materials from China, South Korea, and Malaysia. However, companies are trying to balance the situation by offering various schemes such as EMI and seasonal discounts and finance options that attract numerous stakeholders of the market to choose VRF air conditioners.

According to 6Wresearch, India VRF Air Conditioner Market size  is projected to grow at a CAGR of 9.6% during 2021-2027F. India VRF Air Conditioner market is highly competitive and fragmented with international and unorganized market participants. Additionally, growth in several construction projects across metro & tier-2 cities such as Bhopal, Indore, Surat, etc., would further increase the demand for VRF air conditioners in the country in the coming years. In terms of market segment in 2020, by compressor types, the water-cooled held major India VRF air conditioner market share due to the price gap compared to the air-cooled compressors and increasing adoption of water-cooled compressors in the residential segment.

India VRF Air Conditioner Market Outlook (2021-2027)

Market by System Types Analysis

By System types, the heat pump system dominated the market revenues in 2020 compared to the heat recovery system on account of its different applications in different industries such as power plants, manufacturing factories etc.

India VRF Air Conditioner Market Outlook (2021-2027)

Market by Components Analysis

For 2020, the Outdoor units connected to multiple indoor units dominated the India VRF air conditioner market. The prominent reason for the increased demand for outdoor units in India is utilizing multiple split air conditioner systems. The commercial offices, buildings, and buildings aim to minimize their costs- the VRF systems are comparatively energy-efficient to their counterparts due to the facility of outdoor air-cooled condensers, thus augmenting the demand for outdoor units.

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 VRF Air Conditioner Market Overview
  • India VRF Air Conditioner Market Outlook
  • India VRF Air Conditioner Market Forecast
  • India VRF Air Conditioner Market Growth
  • Historical Data and Forecast of India VRF Air Conditioner Market Revenues for the Period 2017-2027F
  • Historical Data and Forecast of India VRF Air Conditioner Market Revenues By Compressor, for the Period 2017-2027F
  • Historical Data and Forecast of India VRF Air Conditioner Market Revenues By Components, for the Period 2017-2027F
  • Historical Data and Forecast of India VRF Air Conditioner Market Revenues By System Types, for the Period 2017-2027F
  • Historical Data and Forecast of India VRF Air Conditioner Market Revenues By Applications, for the Period 2017-2027F
  • Historical Data and Forecast of India VRF Air Conditioner Market Revenues By Regions, for the Period 2017-2027F
  • Market Drivers
  • Market Restraints
  • India VRF Air Conditioner Market Trends
  • Industry Life Cycle
  • Porter’s Five Force Analysis
  • Market Opportunity Assessment
  • Market Opportunity Assessment
  • Market Player’s Revenue Shares
  • Market Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Market Scope and Segmentation

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

  • By Compressor
    • Air Cooled
    • Water Cooled
  • By Components
    • Indoor Units
    • Outdoor Units
    • Control System and Accessories

  • By System Types
    • Heat Pump System
      • Air-source
      • Ground-source
      • Absorption
    • Heat Recovery System
  • By Applications
    • Residential
    • Commercial
    • Industrial
  • By Regions
    • Northern
    • Western
    • Eastern
    • Southern
India VRF Air Conditioner Market: FAQs

Does the report consider COVID-19 impact?

The report not only has considered COVID-19 impact but also current market dynamics, trends and KPIs into consideration.

How much growth is expected in the Egypt air compressor market over the coming years?

The India VRF air conditioner market revenue is anticipated to record a CAGR of 9.6% during 2021-27.

Which segment has captured key share of the market?

By System Types, heat recovery segment has dominated the market revenues led by increased application in commercial spaces such as offices, malls, commercial buildings, theatres etc. in India

Which segment is exhibited to gain traction over the forecast period?

By Types, outdoor units segment would record key growth throughout the forecast period 2021-27.

Who are key the key players of the market?

The key players of the market include- Daikin Airconditioning, Blue Star Ltd, Voltas, Panasonic Corporation and Carrier India Ltd.

We also want to have market reports for other countries/regions.

6Wresearch has the database of more than 60 countries globally, which can make us your first choice of all your research needs.

Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

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 VRF Air Conditioner Market Overview

3.1. India VRF Air Conditioner Market Revenues, 2017-2027F

      3.1.1 India VRF Air Conditioner Market Capacity, 2017-2027F

3.2. India VRF Air Conditioner Market-Industry Life Cycle

3.3. India VRF Air Conditioner Market-Ecosystem

3.4. India VRF Air Conditioner Market-Porter’s Five Forces

  3.5 India VRF Air Conditioner Market Revenue Share, By Compressor, 2020 & 2027F

3.6 India VRF Air Conditioner Market Revenue Share, By Components, 2020 & 2027F

3.7 India VRF Air Conditioner Market Revenue Share, By System Types, 2020 & 2027F

3.8 India VRF Air Conditioner Market Revenue Share, By Applications, 2020 & 2027F

3.9 India VRF Air Conditioner Market Revenue Share, By Regions, 2020 & 2027F

4. COVID-19 Impact Analysis on India VRF Air Conditioner Market

5. India VRF Air Conditioner Market Dynamics

5.1 Impact Analysis

5.2 Market Drivers

5.3 Market Restraints

6. India VRF Air Conditioner Market Evolution

7. India VRF Air Conditioner Market Overview, By Compressor

7.1 India VRF Air Conditioner Market Revenues, By Air-Cooled, 2017-2027F

7.2 India VRF Air Conditioner Market Revenues, By Water-Cooled, 2017-2027F

8. India VRF Air Conditioner Market Overview, By Components

8.1 India VRF Air Conditioner Market Revenues, By Indoor Units, 2017-2027F

8.2 India VRF Air Conditioner Market Revenues, By Outdoor Units, 2017-2027F

8.3 India VRF Air Conditioner Market Revenues, By Control System and Accessories, 2017-2027F

9. India VRF Air Conditioner Market Overview, By System Types

9.1 India VRF Air Conditioner Market Revenues, By Heat Pump System, 2017-2027F

9.2 India VRF Air Conditioner Heat Pump System Market Revenue Share, By Types, 2020 & 2027F

     9.2.1 India VRF Air Conditioner Market Revenues, By Ground-source, 2017-2027F

     9.2.2 India VRF Air Conditioner Market Revenues, By Air-source, 2017-2027F

     9.2.3 India VRF Air Conditioner Market Revenues, By Absorption, 2017-2027F

9.3 India VRF Air Conditioner Market Revenues, By Heat Recovery System, 2017-2027F

10. India VRF Air Conditioner Market Overview, By Applications

10.1 India VRF Air Conditioner Market Revenues, By Residential Application, 2017-2027F

10.2 India VRF Air Conditioner Market Revenues, By Industrial Application, 2017-2027F

10.3 India VRF Air Conditioner Market Revenues, By Commercial Application, 2017-2027F

11. India VRF Air Conditioner Market Overview, By Regions

 11.1 India VRF Air Conditioner Market Revenues, By Northern Region, 2017-2027F

 11.2 India VRF Air Conditioner Market Revenues, By Southern Region, 2017-2027F

 11.3 India VRF Air Conditioner Market Revenues, By Western Region, 2017-2027F

 11.4 India VRF Air Conditioner Market Revenues, By Eastern Region, 2017-2027F

12. India VRF Air Conditioner Market Key Performance Indicators

13. India VRF Air Conditioner Market Opportunity Assessment

 13.1 India VRF Air Conditioner Market Opportunity Assessment, By Compressor, 2027F

 13.2 India VRF Air Conditioner Market Opportunity Assessment, By Components, 2027F

 13.3 India VRF Air Conditioner Market Opportunity Assessment, By System Types, 2027F

 13.4 India VRF Air Conditioner Market Opportunity Assessment, By Applications, 2027F

14. India VRF Air Conditioner Market Competitive Landscape

14.1 India VRF Air Conditioner Market Revenues Share, By Companies, 2020

14.2 India VRF Air Conditioner Market Competitive Benchmarking, By Technical Parameters

14.3 India VRF Air Conditioner Market Competitive Benchmarking, By Operating Parameters

15. Company Profiles

15.1 Blue Star Limited

15.2 Carrier India Pvt Ltd

15.3 Daikin Airconditioning India Pvt Ltd

15.4 Fujitsu General (India) Pvt Ltd

15.5 Johnson Controls-Hitachi Air Conditioning

15.6 LG Electronics India Pvt Ltd

15.7 Mitsubishi Electric India Pvt Ltd

15.8 Panasonic Corporation

15.9 Samsung India Electronics Ltd

15.10 Voltas Limited

16. Key Strategic Recommendations

17. Disclaimer

List of Figures

Figure 1. India VRF Air Conditioner Market Revenues, 2017-2027F (INR Crores)

Figure 2. India VRF Air Conditioner Market Capacity, 2017-2027F (Thousand HP)

Figure 3. India VRF Air Conditioner Market Revenue Share, By Compressor 2020 & 2027F

Figure 4. India VRF Air Conditioner Market Revenue Share, By Components 2020 & 2027F

Figure 5. India VRF Air Conditioner Market Revenue Share, By System Types 2020 & 2027F

Figure 6. India VRF Air Conditioner Market Revenue Share, By Applications 2020 & 2027F

Figure 7. India VRF Air Conditioner Market Revenue Share, By Regions 2020 & 2027F

Figure 8. Real Estate Market Size in India, 2017- 2030F (INR Crores)

Figure 9. Co-living Market Size in India (Top 30 Cities), 2020 & 2025F (INR Crores)

Figure 10. India’s Per Capita GDP, 2017- 2022F, INR Lakhs

Figure 11. Percentage of Population Living in Urban Areas (2016-2036F)

Figure 12. Copper Prices, October 2020-March 2021 (INR)

Figure 13. India VRF Air Conditioner Market Revenues, By Air-Cooled Compressor, 2017-2027F (INR Crores)

Figure 14. India VRF Air Conditioner Market Revenues, By Water-Cooled Compressor, 2017-2027F (INR Crores)

Figure 15. India VRF Air Conditioner Market Revenues, By Heat Pump System, 2017-2027F (INR Crores)

Figure 16. India VRF Air Conditioner Market Revenue Share, By Types, 2020 & 2027F

Figure 17. India VRF Air Conditioner Market Revenues, By Heat Recovery System Types, 2017-2027F (INR Crores)

Figure 18. India VRF Air Conditioner Market Revenues, By Northern Region, 2017-2027F (INR Crores)

Figure 19. India VRF Air Conditioner Market Revenues, By Southern Region, 2017-2027F (INR Crores)

Figure 20. India VRF Air Conditioner Market Revenues, By Western Region, 2017-2027F (INR Crores)

Figure 21. India VRF Air Conditioner Market Revenues, By Eastern Region, 2017-2027F (INR Crores)

Figure 22. New Sites/Outlets of Full- Service Restaurants and Cafes/ Bars added per year in India, 2017-2022F

Figure 23. New hotels/sites / Outlets and Rooms added per year in India, 2018-2023

Figure 24. Net Office Space Leasing India, 2019 (Million Square Feet)

Figure 25. India Real Estate Market Size, 2019 & 2040F (INR Crores)

Figure 26. India Residential Market Size, 2017- 2030F (INR Lakh Crores)

Figure 27. India Urban Population, 2015- 2025F (INR Lakh Crores)

Figure 28. India VRF Air Conditioner Market Opportunity Assessment, By Compressor, 2027F

Figure 29. India VRF Air Conditioner Market Opportunity Assessment, By Components, 2027F

Figure 30. India VRF Air Conditioner Market Opportunity Assessment, By System Types, 2027F

Figure 31. India VRF Air Conditioner Market Opportunity Assessment, By Applications, 2027F

Figure 32. India VRF Air Conditioner Market Revenue Share, By Companies, 2020

List of Tables

Table 1. Major Upcoming Infrastructure Projects in India (Transport & Commercial), 2023-30

Table 2. India VRF Air Conditioner Market Revenues, By Components, 2017-2027F (INR Crores)

Table 3. India VRF Air Conditioner Market Revenues, By Types, 2017-2027F (INR Crores)

Table 4. India VRF Air Conditioner Market Revenues, By Applications, 2017-2027F (INR Crores)

 

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