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Increasing middle class incomes and availability of energy efficient variants to drive demand for RACs
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The Room Air Conditioners (RAC) Market in India, 2017 provides an outlook of the RAC industry, emerging trends in usage of technology, key regional trends and factors driving the market. The Indian economy is currently witnessing an upswing due to increased economic activities; rising household incomes and therefore enhanced purchasing power have moved products from the earlier luxury category to being essential today. Climate change has also played its part. Room Air Conditioners, an erstwhile luxury product is now becoming an essential product. Current penetration levels of RACs in India are low when compared to other major South Asian countries. This scope of growth is enticing major brands to focus on the India market. Inverter ACs with cost saving advantages are likely to grow at the highest CAGR followed by split ACs. Window ACs, on the other hand are no longer products of high focus with market size falling to 2% by 2022.This Industry docket offers relevant competitive, regional and product insights and strategic pointers to enable informed decision-making.
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