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.