The Indian air cooler market size is estimated to be around Rs 3,000 crore in value term and around 30% of this is in the organised sector and rest is catered to by the unorganised segment players.
The Indian air cooler market is witnessing a major shift in consumer preferences, with a spurt in demand for high-end coolers priced Rs 10,000 and above. Till a couple of years back, there was no air cooler available in the Rs 10,000 plus price range. When the first such air cooler model was launched by market leader Symphony, which has a 50% market share, other players too followed and this segment has grown from zero to over 15% share of the organised market in value terms.
Elaborating on why high-end coolers were introduced in the Indian market, Achal Bakeri, Chairman & Managing Director of Symphony Ltd said, “Indian consumer durable industry has been witnessing a shift towards high end models for various product categories. To address the needs of consumers seeking better features, we decided to introduce Symphony intelligent air coolers with advanced electronics, remote control and other attractive features as well as better performance. In no time, these intelligent range of air coolers became very popular as consumers did not mind paying a little extra for these feature packed coolers and today these models are amongst the best-selling models of Symphony. The Rs 10,000 plus models today account for around 25% of Symphony’s residential air cooler sales in India.”
The Indian air cooler market size is estimated to be around Rs 3,000 crore in value term and around 30% of this is in the organised sector and rest is catered to by the unorganised segment players. There are an estimated 247 million households in India and about 65% own fans, while only 4% of these households own air conditioners and 8% own air coolers. High and rising temperature levels are leading to greater demand for cooling solutions. With rising incomes, cooling solutions are increasingly viewed as necessities. Considering lower cost of ownership vis a vis ACs (70% lower capital costs and 90% lower running costs) and the constrained power supply situation in India, air coolers are the mass market option for Indian consumers. So, the potential customer base for cooling solutions in India is huge.
The Indian air cooler market is witnessing a major shift in consumer preferences, with a spurt in demand for high-end coolers priced Rs 10,000 and above. Till a couple of years back, there was no air cooler available in the Rs 10,000 plus price range. When the first such air cooler model was launched by market leader Symphony, which has a 50% market share, other players too followed and this segment has grown from zero to over 15% share of the organised market in value terms.
Elaborating on why high-end coolers were introduced in the Indian market, Achal Bakeri, Chairman & Managing Director of Symphony Ltd said, “Indian consumer durable industry has been witnessing a shift towards high end models for various product categories. To address the needs of consumers seeking better features, we decided to introduce Symphony intelligent air coolers with advanced electronics, remote control and other attractive features as well as better performance. In no time, these intelligent range of air coolers became very popular as consumers did not mind paying a little extra for these feature packed coolers and today these models are amongst the best-selling models of Symphony. The Rs 10,000 plus models today account for around 25% of Symphony’s residential air cooler sales in India.”
The Indian air cooler market size is estimated to be around Rs 3,000 crore in value term and around 30% of this is in the organised sector and rest is catered to by the unorganised segment players. There are an estimated 247 million households in India and about 65% own fans, while only 4% of these households own air conditioners and 8% own air coolers. High and rising temperature levels are leading to greater demand for cooling solutions. With rising incomes, cooling solutions are increasingly viewed as necessities. Considering lower cost of ownership vis a vis ACs (70% lower capital costs and 90% lower running costs) and the constrained power supply situation in India, air coolers are the mass market option for Indian consumers. So, the potential customer base for cooling solutions in India is huge.
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