Project Report For Cooler Manufacturing
Introduction
Project report for Cooler Manufacturing is as follows.
Growing temperatures, expanding urbanisation, a growing lower and middle population, booming infrastructure development, bolstering the household sector, a developing rural electrification initiative, and rapidly increasing disposable income have all contributed to substantial expansion in the India Air Cooler Market in recent years.
Nevertheless, due to supply chain interruptions, unpredictable working days, reduced operational days, as well as the shutdown of the organised retail sector, especially stores and major retail outlets, the spread of COVID-19 in 2020 has led in a decline in sales.
According to the usage, the residential sector led the air cooler industry in terms of revenue and volume in 2020, and it has been expected to continue to do so in the subsequent seasons. Because a substantial part of the population in the low and middle income levels chooses to purchase air coolers rather than air conditioners since air coolers are less costly.
The residential sector had a significant proportion of the total air cooler market revenues in India, thanks to cheap air cooler purchase and operating costs and growing government initiatives to satisfy housing and development needs, such as “Housing for All” as well as the “Smart City Program.”
Market potential & Strategy
During the period 2021-2027, India’s Air Cooler Market is expected to expand at a CAGR of 14.6%.
The air cooler industry is projected to exhibit positive development in the future due to the expanding middle-class population, growing heatwaves, developing work-from-home lifestyle, greater accessibility of power in villages, and a comparative pricing advantage of air coolers above air conditioners. Desert coolers led the air cooler market by category in 2020, due to its superior capacities, low costs, and ease of accessibility and availability in both the organised and unorganised sectors of the industry.
In the next years, government programmes for rural betterment, growing urbanisation and leisure expenditure, revised industry standards, and a slew of new residential developments are likely to fuel need for desert air coolers in the nation.
Due to shifting customer tastes for new and creative goods, rising e-commerce sales, and expanded brand variations and stock-keeping facilities, tower and portable air coolers might witness a surge in their share in the future years.