The increase in industrialization and the number of commercial buildings and the increasing temperature globally will drive the India packaged air conditioners market in the forecast years.
According to TechSci Research report, “India Packaged Air Conditioners Market - By Region, Competition, Opportunities, and Forecast, 2018-2031F,” the India Packaged Air Conditioners Market valued at USD324.98 million in 2022 and is forecast to register an impressive CAGR of around 7.65% in the forecast period due to rapidly surging demand from commercial and industrial sector. Rising temperatures, accelerated industrialization, a booming construction sector, and an increase in government programmes all contribute to the market's expansion. As a result of global warming and rising need for cooling solutions, the market for packaged air conditioners is predicted to expand steadily during the projected period.
Packaged air conditioners are air conditioning systems that include all of their components in a single unit. The majority of a packaged HVAC system's components are located outdoors, so their noise isn't as loud or unpleasant as it would be from a unit with an indoor air handler. As the components of a packaged system are incorporated in single device, the service of the unit can be done quickly and easily. There are two types of packaged air conditioners used in the industry – air cooled packaged air conditioners and water cooled air conditioner. In air cooled air conditioner the refrigerant gets cooled by atmospheric air while in the water cooled packaged air conditioner the refrigerant gets cooled by water which is supplied regularly. Daikin Airconditioning India Private Limited offers rooftop packaged air conditioners with air cooled condensers. The condenser of the refrigeration system in these packaged ACs are cooled by atmospheric air.
The market has witnessed an increase in demand for energy-efficient packaged air conditioners as a result of rising global warming and growing environmental concerns by the government. As a result, many companies are producing packaged air conditioners with eco-friendly refrigerant, specifically R410A, which is safe for the environment and has no potential to deplete the ozone layer, in order to support the cause. Since it absorbs and releases heat more effectively than other refrigerants, the refrigerant is also energy efficient. As a result, companies and consumers are turning to these air conditioners since they reduce operating and manufacturing expenses.
Moreover, air conditioners are being transformed by corrosion protection, indoor air quality, protection from voltage fluctuations, dual inverter technology with acoustic jacket, humidity control using humid auto control and dry mode, copper condenser and anti-corrosive hydrophilic bluefin, and many more. Companies like Hitachi, Daikin, and LG are at the forefront of AC technology, having phased out old and ecologically unfriendly technologies. For example, LG has stopped producing non-inverter ACs, and Daikin, and Panasonic have phased out using R22 refrigerant.
Browse over 19 market data Figures spread through 73 Pages and an in-depth TOC on "India Packaged Air Conditioners Market.”
The India Packaged Air Conditioners market is segmented based on condenser type, end user, distribution channel, region and competitive landscape. Based on condenser type the market is segmented into air cooled packaged air conditioner and water cooled packaged air conditioner. The air cooled packaged air conditioner dominated the market due to the ease of operating.
Based on end user, the market is segmented into industrial, hospitality, offices, others (education, residential, malls, healthcare, etc.).
Key market players in the India Packaged Air Conditioners market include:
- Blue Star Limited
- Daikin Airconditioning India Private Limited
- Voltas Limited
- Carrier Airconditioning & Refrigeration Limited
- Trane Technologies India Private Limited
- Lennox India Technology Centre
- Toshiba India Private Limited
- Singhsons Refrigeration Private Limited
- Eakcon Systems Pvt. Ltd.
- LG Electronics India Pvt. Ltd.
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“Over the coming years, the market for packaged air conditioners in India is anticipated to expand significantly as a result of an increase in residential and commercial development driven by fast urban and economic development. The rise in demand for luxury goods due to improving living standards are the key factors that will spur market growth over the forecast period. Moreover, due to the large number of small businesses where packaged units completely satisfy the cooling need, consumers are choosing packaged air conditioners which will fuel the packaged air conditioners market in India.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Packaged Air Conditioners Market By Condenser Type (Air Cooled, Water Cooled), By End User (Industrial, Hospitality, Offices, Others (Education, Residential, Malls, Healthcare, etc.)), By Distribution Channel (Direct, Indirect), By Region, Competition Forecast & Opportunities, 2018-2031F,” has evaluated the future growth potential of packaged air conditioners market in India and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India Packaged Air Conditioners market.