Industry News

Cost of Air Conditioners Go Down Sharply

Prices of premium air conditioners have gone down sharply this summer

India: The prices of air conditioners across the country is anticipated to go down sharply this summer. With LG slashing the prices of its air conditioners, a 25 per cent decline is anticipated to be witnessed this summer in the country.

The company has dropped prices to drive the sales of its products in the India market. The rising level of commercialization, increasing infrastructural developments and continuous evolution of office spaces are leading to a substantial increase in demand for air conditioners in the commercial sector of the nation. Besides that, introduction of new technologies has resulted in the reduction of prices of air conditioners.

According to TechSci Research, the unpredicted weather in the country affected the market of air conditioners last year and with severe summers predicted this year, the demand for the air conditioners is likely to shoot up. With the companies laying appropriate strategies, the air  conditioner market is expected to register double digit growth in coming years. Moreover, the Indian government in a move to curb the raising pollution levels has banned the high energy consuming one-star air conditioners in Indian market. This initiative would ultimately reduce the price difference between inverter as well as non-inverter models.

According to a recent report published by TechSci Research, India Air Conditioners Market Forecast & Opportunities, 2020”, the Indian air conditioners market is projected to grow at a CAGR of over 10% during 2015-20. Accounting for a lion’s share of the air conditioners market split air conditioners segment was the highest revenue generator, followed by VRFs and window air conditioners in 2014. The market share of window air conditioners has been declining over the last few years on account of decreasing price gap compared to split ACs, due to which many leading companies such as Samsung and LG have exited from the windows air conditioning segment while other major companies like Voltas, Daikin, Blue Star, etc., have lowered the production of window air conditioners in the country.

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