Commercial AC market has significant growth potential, says CEAMA president
Over the market size of the commercialC segment, Vachani said it varies across regions and sub-segments but is generally substantial
Commercial air-conditioning (AC) market holds "significant promise" and is witnessing growth, driven by rapid urbanisation, infrastructural development and growing emphasis on comfort in commercial spaces, said Sunil Vachani, president of electronics and appliances manufacturers' body CEAMA.
The commercialC (Heating, Ventilation, and Air Conditioning) segment is witnessing a shift with its wide array of applications, with infrastructure growth including offices, retail spaces, healthcare facilities, hospitality establishments, and educational institutions, said the president of Consumer Electronics and Appliances Manufacturers Association (CEAMA).
Moreover, factors such as increasing awareness of indoor air quality, sustainability mandates, and the integration of IoT (internet of things) and building automation systems are also reshaping the commercialC landscape, offering avenues for innovation and market expansion, he said.
Over the market size of the commercialC segment, Vachani said it varies across regions and sub-segments but is generally substantial, reflecting the scale of commercial infrastructure and the need for effective climate control solutions.
According to reports, the IndianC industry is projected to reach a market size of approximately USD 30 billion.
When asked about the room air-conditioner segment, Vachani said he also anticipates a "steady growth" for the segment.
However, he added that this segment could face "some nuances" due to Quality Control Orders (QCOs) issued by the government.
Over growth expectations for the residential AC for this season, Vachani said the industry is "cautiously optimistic" and a "moderate to healthy uptick" is anticipated.
According to industry leaders, the Indian residential air-conditioner market is estimated to be around 10 million units and expected to touch around 11.5 units this fiscal.
Premium energy-efficient models are gaining momentum, however, entry-level units may still maintain a significant market share, especially in emerging markets where affordability remains a key consideration for consumers, Vachani said.
