Air Conditioning Market in India to Grow at a CAGR of 10.3%, 2017-2021
The air conditioning market in India is forecast to grow at a CAGR of 10.39% during the period 2017-2021.The report, Air Conditioning Market in India 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is the increased demand for solar-powered ACs. The most effective way of reducing power shortage is to reduce the load on the power supply. Consumers have started investing in energy-efficient products, which consume less power. This shortage of power has led many vendors to invest in R&D and energy-efficiency products like solar-powered ACs.
According to the report, one of the major drivers for this market is the increase in electronic retail stores and e-commerce. Electronic retail stores are organized stores where electronic goods of different brands are available. These stores are expected to grow at a CAGR around 2% during the forecast period. Indian consumers demand stores that offer a good ambience, multiple brands, and correctly priced goods under one roof. The increase in changing lifestyle and rise in the income of consumers are driving the electronic retail market in India. The increase in financial services and easy payment modes are the other attributes increasing the volume sales of ACs at electronic retail stores.