Rising prosperity and increasing environmental consciousness, as per the report, is likely to generate attractive air cooler market growth over the foreseeable future
Air coolers, owing to their lower life-cycle cost and enhanced flexibility have proved to be one of the superior alternatives to air conditioners, claims a recent study by Trends Market Research. The study also points out that the Government of India’s ‘Make in India’ initiative has paved the way for air cooler manufacturers to produce their products locally.
The study read, “While this development no doubt gives a major incentive to global as well as in-house air cooler manufacturers, there are many benefits associated with ‘Make in India’ that can add greater value to the entire business chain. One of the most important factors that have traditionally influenced the country’s evaporative air coolers market has been the value-for-money mindset of the Indian consumer.”
It is to be noted here that the air-cooler market in India is largely ruled by local manufacturers. Though brands like Kenstar, Burly and Symphony are present in the market, consumers till now have been inclined towards local brands.
Substantial climate change increasing demand
Asia and the Middle East, as per the research, have witnessed substantial climate change in the last few years, thereby impacting the lives of people living in these regions. This has increased the demand for air cooling systems in both the commercial as well as the residential sector. There is also a strong awareness of the use of sustainable products in these regions. Evaporative air coolers offer natural and energy saving solutions that are also cost effective.
This has resulted in an increased demand especially from the rising middle class in these regions. Several domestic manufacturers operating in the Asian and Middle Eastern markets are slowly expanding their brands in the international market as well, thereby broadening the scope for exports of evaporative air coolers.
Rising prosperity and increasing environmental consciousness, as per the report, is likely to generate attractive air cooler market growth over the foreseeable future
