India VRF Air Conditioner Market Outlook (2021-2027)
Market Forecast By Compressor (Air Cooled, Water Cooled), By Components (Indoor Units, Outdoor Units, Control System And Accessories), By System Types (Heat Pump System (Air-Source, Ground-Source, Absorption), Heat Recovery System), By Applications (Residential, Commercial, Industrial), By Regions (Northern, Western, Eastern, Southern) And Competitive Landscape
According to 6Wresearch, India VRF Air Conditioner Market size is projected to grow at a CAGR of 9.6% during 2021-2027F. India VRF Air Conditioner market is highly competitive and fragmented with international and unorganized market participants. Additionally, growth in several construction projects across metro & tier-2 cities such as Bhopal, Indore, Surat, etc., would further increase the demand for VRF air conditioners in the country in the coming years. In terms of market segment in 2020, by compressor types, the water-cooled held major India VRF air conditioner market share due to the price gap compared to the air-cooled compressors and increasing adoption of water-cooled compressors in the residential segment.
Indian VRF air conditioner market witnessed a decline in 2020 as a result of the COVID-19 pandemic. The market is comparatively new in the country and depends heavily on imports, which got disrupted due to the movement restrictions imposed during the lockdown period. However, recovery is anticipated by 2023, on account of the PIL (Production Incentive Linked) scheme launched by the government to support the manufacturing sector. In recent years, the Indian government has placed a strong emphasis on infrastructure development and construction as a key engine of urban growth and financial stability on account of IMF-backed economic reform program, which acted as a catalyst for developing the VRF air conditioner market in the country.
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Market by Components Analysis
For 2020, the Outdoor units connected to multiple indoor units dominated the India VRF air conditioner market.
Key Highlights of the Report
India VRF Air Conditioner Market Overview
India VRF Air Conditioner Market Outlook
India VRF Air Conditioner Market Trends
Industry Life Cycle
Market Drivers
Market Restraints
Porter’s Five Force Analysis
India VRF Air Conditioner Market Forecast
India VRF Air Conditioner Market Growth
Market Opportunity Assessment
Market Opportunity Assessment
Market Player’s Revenue Shares
Market Competitive Benchmarking
Company Profiles
Key Strategic Recommendations
Historical Data and Forecast of India VRF Air Conditioner Market Revenues for the Period 2017-2027F
Historical Data and Forecast of India VRF Air Conditioner Market Revenues By Compressor, for the Period 2017-2027F
Historical Data and Forecast of India VRF Air Conditioner Market Revenues By Components, for the Period 2017-2027F
Historical Data and Forecast of India VRF Air Conditioner Market Revenues By Regions, for the Period 2017-2027F
Historical Data and Forecast of India VRF Air Conditioner Market Revenues By System Types, for the Period 2017-2027F
Historical Data and Forecast of India VRF Air Conditioner Market Revenues By Applications, for the Period 2017-2027F
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