Published: April 2019 Market Intelligence . Consulting
2014 – 2024 INDIA AIR COOLERS MARKET By Organized Vs Un-organized, Competition, Forecast & Opportunities
Table of Contents S. No.
Contents Air Coolers
1.
Product Overview
2.
Research Methodology
3.
Analyst View
4.
Global Air Coolers Market Overview
5.
India Overall Air Coolers Market Outlook 5.1.
Market Size & Forecast
5.1.1. 5.2.
Market Size & Forecast 6.1.1.
6.2.
6.3.
By Value & Volume
Market Share & Forecast 6.2.1.
By Type (Residential Air Coolers and Industrial & Commercial Air Coolers)
6.2.2.
By Region
6.2.3.
By Company
Market Attractiveness Index 6.3.1.
By Type
6.3.1.
By Region
India Residential Air Coolers Market Outlook 7.1.
Market Size & Forecast 7.1.1.
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By Organized Vs Un-organized
India Organized Air Coolers Market 6.1.
7.
By Value & Volume
Market Share & Forecast 5.2.1.
6.
Page No.
By Value & Volume
2
Table of Contents S. No. 7.2.
8.
Market Share & Forecast 7.2.1.
By Product Type (Desert, Room and Tower Air Coolers)
7.2.2.
By Distribution Channel (Company Owned Store, Online Retail, Hypermarket/ Supermarket, Large Format Retail Stores and Small Format Retail Stores)
7.3.
Product Benchmarking
7.4.
Pricing Analysis
7.5.
Market Attractiveness Index (By Product Type)
Page No.
India Industrial & Commercial Air Coolers Market Outlook 8.1.
Market Size & Forecast 8.1.1.
8.2.
8.3.
By Value & Volume
Market Share & Forecast 8.2.1.
By Product Type (Mobile Commercial Air Coolers and Centralized Air Coolers)
8.2.2.
By Distribution Channel (Distributor/ Supplier/ Dealer Vs Institutional Sales)
Market Attractiveness Index (By Product Type)
9.
Supply Chain Analysis
10.
Import and Export Analysis
11.
Market Dynamics 11.1.
Drivers
11.2.
Challenges
12.
Market Trends & Developments
13.
Policy & Regulatory Landscape
14.
India Economic Profile
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Contents Air Coolers
3
Table of Contents S. No. 15.
Competitive Landscape 15.1.
Competition Outlook
15.2.
Company Profiles 15.2.1.
Symphony Limited
15.2.2.
Everhome India Private Limited (Kenstar)
15.2.3.
Bajaj Electricals Ltd.
15.2.4.
Usha International Limited
15.2.5.
Orient Electric Limited
15.2.6.
Voltas Limited
15.2.7.
Ram Coolers
15.2.8.
Groupe SEB India Pvt Limited (Maharaja Whiteline)
15.2.9.
Khaitan Electricals Ltd.
15.2.10.
Blue Star Ltd.
16.
Strategic Recommendations
17.
About Us & Disclaimer
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Contents Air Coolers
Page No.
4
Air Coolers: An Introduction
Air Coolers All air coolers are evaporative coolers that cool air through the evaporation of water. The first commercial evaporative cooling technology was developed by William H. Goettl in 1974. Thereafter, he opened the first air cooler manufacturing company known as International Metal Products Company (IMPCO), which was acquired by Symphony in 2008. Air coolers work best when the level of humidity is extremely low. India air coolers market has been segmented into two categories, namely, residential air coolers and industrial & commercial air coolers. Residential air coolers are categorized into three types, namely, Desert air coolers, Room air coolers and Tower air coolers. Industrial & commercial air coolers are of two types: Mobile commercial air coolers and Centralized air coolers.
Residential Air Coolers
Room Air Coolers
Desert Air Coolers
Tower Air Coolers
Desert air coolers are those air
Room air coolers are kept inside the
coolers which are fitted outside a
room and placed over a trolley. These
window and draw in the air from
are
outside. These types of air coolers are mostly used in homes, flats and apartments. Š TechSci Research
also
known
as
portable
air
coolers, which are easily mobile. This product
type
is
mainly
used
Tower coolers are used in residential spaces. They combine the power of cooling with mobility.
by
people living in apartments and highrise buildings.
5
Air Coolers: An Introduction
Industrial & Commercial Air CoolersAir Coolers
Mobile Commercial Air Coolers Mobile
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commercial
air
coolers
Centralized Air Coolers are
Centralized air coolers are used for
suitable for industrial and commercial
cooling
establishments
workshops,
cannot be kept cool with the help of
restaurants, gyms, indoor stadiums,
mobile commercial air coolers. This
banquets,
product
such
offices,
as
hotels,
small
down
type
large spaces,
is
mostly
factories,
which
used
in
factories, wedding tents, etc. Mobile
automotive
commercial air coolers possess high
assembly
cooling and tank capacities and are
spiritual places, cold storages, green
suitable for large spaces.
houses, textile industries, etc.
halls,
warehouses,
railway
stations,
6
Air Coolers: An Introduction & Classification
Distribution Channel: •
Large Format Electronics & Appliances Specialist Retailers: They include large stores which sell electronics and appliances of multiple brands. These include stores with a selling space of over 5,000 sq. ft. Stores like Croma, Vijay Sales, etc., come under this category.
•
Small Format Electronics & Appliances Specialist Retailers: They include relatively smaller stores which sell electronics and appliances of multiple brands. This category also includes CEHA (Consumer Electronic and Home Appliances) stores. These include stores which have maximum of 5 chained outlets and have a selling space of less than 5,000 sq. ft.
•
Supermarket/Hypermarkets: They include chains like Big Bazaar, Reliance Retail, More Megastore, etc. These stores offer a product portfolio which majorly comprise grocery products along with non-grocery merchandise like electronic products and home appliances.
•
Online Retail: Online stores like Amazon, Flipkart, etc., are included in online retail wherein, a customer can place order online and get it delivered at his/her doorstep. The orders can be placed through websites or mobile apps. Under this
category, we have also included company captive portals for placing order, such as shop.bajajelectricals.com of Bajaj Electricals Ltd. •
Exclusive Brand Outlets/Company-owned Stores: They include company owned stores, such as, Usha International Limited, Voltas Limited, etc.
•
Institutional Sales: This segment includes sales through companies to various Industries and Institutions. symphony is the market leader in generating sales through this channel for Industrial and commercial air coolers.
•
Distributor/Suppliers/Dealers: This segment includes the sales of products through company authorized suppliers to fulfill institutional sales.
© TechSci Research
7
Research Methodology
All collected Information regarding
India air coolers market was gathered through primary
validated through multiple sources and
research interviews
data warehouses in
with manufacturers,
order to present the
retailers and
most accurate and
distributors present in
precise information
India, followed by
about India air coolers
exhaustive secondary research.
Research
Š TechSci Research
information was then
market.
Various aspects of the market were comprehensively monitored and analyzed by the team of industry experts. TechSci Research also identified and analyzed trends, drivers and challenges in India air coolers market.
Evaluation & Validation
Analysis
The analyzed information was then presented in a chronological order to depict a meaningful and clear picture air cooler market. It should be noted that we have collected information related to the organized air coolers market and all parameters are related to that including market shares.
Presentation
8
Research Methodology
Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of India air coolers market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors, such as growing environmental awareness, rising temperature, 'Make in India’ initiative by the government, etc. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to
achieve sustainability in India air coolers market. Methodology Followed for Calculation of Market Size: Market Size by Value: Market size, in terms of value, for the year 2018 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as air cooler manufacturers, dealers, retailers, etc. The team interviewed more than 14 manufacturers/suppliers, 49 distributors/dealers and 7 retailers in India air coolers market to obtain the overall market size during 2014-2018, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data for 2014-2018. Respondents were asked about the current and future market growth rates, market shares by type, by each region.
Removing the outlier responses, the geometric mean of growth estimates and product wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders depending upon the type of air coolers.
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9
Research Methodology
Methodology Followed for Calculation of Market Shares: Market shares by type, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software. Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India air coolers market, TechSci Research used various forecast techniques such as:
Š TechSci Research
o
Moving Average
o
Time Series Analysis
o
Regression Analysis
o
Econometric and Judgmental Analysis
10
Research Methodology
TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers.
Exchange Rate considered in report is 1USD=INR65
Partial List of Companies Interviewed
Symphony Limited, Everhome India Private Limited (Kenstar), Bajaj Electricals Ltd, Usha International Limited, Orient Electric Limited, Groupe SEB India Pvt Limited (Maharaja Whiteline), Ram Coolers, Khaitan Electricals Ltd, Voltas Limited, Blue Star Ltd., etc.
Company Annual Reports, Ministry of Corporate Affairs (MCA), Bureau Of Indian Standard, Secondary Sources
Ministry of Commerce and Industry, Federation of Indian Chambers of Commerce & Industry, Industry Magazines, News Dailies, Credible Paid Databases, Proprietary Database, etc.
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11
Industry Brief According to TechSci Research report, “India Air Coolers Market By Organized vs Unorganized, Competition, Forecast & Opportunities, 2024”, India air coolers market is predicted to grow at a CAGR of over 22% during 2019-2024 on account of Improving living standards and rising temperature level. Moreover, launch of trendy and innovative air coolers such as air coolers with air purification technology, wall mounted air coolers, etc. is further anticipated to boost their demand in India over the next five years. Additionally, since air coolers are energy-efficient, low-cost and environmentally friendly alternative to air conditioners, they are anticipated to register strong growth during the forecast period. "India Air Coolers Market" In terms of type, India air coolers market is categorized into residential air coolers and industrial & commercial air coolers. In 2018, residential air coolers segment accounted for the majority share in the market and is anticipated to maintain its dominance during forecast period as well on account of rising disposable income of households coupled with their various benefits such as low running costs, portability, less electricity consumption, etc. In terms of region, India air coolers market is categorized into north, south, west and east, of which north India dominated the market in 2018 and is expected to continue dominating during forecast period as well. The dominance of the region is led by rising urbanization and soaring temperature in this part of the country. Moreover, commercial sector is growing north India, which is further contributing to the growing demand for air coolers in this region.
“India air coolers market size is predicted to grow at a double digit CAGR over the course of next five years. The growth of the market can be attributed to technological advancements coupled with government initiatives aimed at increasing number of electrified villages, that would fuel demand for air coolers in rural part of the country. Additionally, rising popularity of online sales channel is further likely to aid the growth of India air coolers market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
12
Sample Data - Snapshots India Overall Air Coolers Market Size, By Value (USD Million), By Volume (Thousand Unit), 2014-2024F CAGR 2019E-2024F By Value: xx% By Volume: xx%
CAGR 2014-2018 By Value: xx% By Volume: xx%
2014
2015
2016
2017
2018
2019E
2020F
Value (USD Million)
2021F
2022F
2023F
2024F
By Volume (Thousand Unit)
India Overall Air Coolers Market Share, By Organized Vs Unorganized, By Value, 2018 & 2024F 50.00%
50.00% 50.00% 50.00% Unorganized
Unorganized
Organized
Organized
India Residential Air Coolers Market Share, By Distribution Channel, By Value, 2014–2024F 25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
20.00%
20.00%
20.00%
20.00%
20.00%
20.00%
20.00%
20.00%
20.00%
20.00%
20.00%
15.00%
15.00%
15.00%
15.00%
15.00%
15.00%
15.00%
15.00%
15.00%
15.00%
15.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
5.00%
5.00%
5.00%
5.00%
5.00%
5.00%
5.00%
5.00%
5.00%
5.00%
5.00%
Company Owned Store 2014
2015
2016
2017
Online Retail 2018
2019E
2020F
Hypermarket/ Supermarket 2021F
2022F
2023F
2024F
13
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Report Name : INDIA AIR COOLERS MARKET By Organized Vs Un-organized, Competition, Forecast & Opportunities, 2014 – 2024
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About Us & Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in a number of areas to organizations. The company uses innovative business
models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.
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