Project Report For Air cooler
Project report for Air cooler is as follows.
Air coolers are inefficient for usage in humid and coastal environments, limiting market expansion. Product innovation, on the other hand, is increasing demand in developing countries.
Technologically improved items are increasingly entering the market in both developed and emerging nations. Remote control functions for rapid access to settings, fan speed, and multi-speed settings are gaining traction in the market over traditional ones. Innovative cooling pads, such as the Honeycomb, also known as the Cellulose cooling pad, are lowering maintenance costs while improving cooling capacity.
The usage of green technology is increasing in the Indian cooling business. Green technologies are progressively being used by market vendors to build energy-efficient and environmentally friendly air conditioning systems.
The Indian air-cooler market has grown rapidly in recent years as a result of the country’s strong economic performance, growing family incomes, and a favourable shift in consumer attitudes of air-coolers.
High and rising temperatures are increasing the need for cooling solutions. Air coolers are in high demand in India, particularly among middle-income people.
Market potential & Strategy
The Indian air cooler market has grown at a CAGR of more than 11% over the previous four years, and the industry is expected to increase further due to rising temperature, rising disposable income, rising demand among middle-class individuals, and the inexpensive cost of air coolers compared to air conditioners.
The market for air coolers is divided into two categories: residential and industrial. Over the last four years, the residential and industrial air cooler markets have grown at a CAGR of nearly 20% and 8%, respectively. Considering the modest capital investment and electricity savings of air coolers, the medium income group drove the majority of sales in the domestic market. Industrial cooling, on the other hand, is gradually gaining relevance as corporations strive to reduce costs.
create an amiable working environment for their shop floor teams. As per “India Air Cooler Industry Outlook 2021,” the air cooler market is expected to reach INR 9000 crore by 2021. The major leaders in the organised air cooler industry include Symphony, Kenstar, Bajaj, Usha, and others. Voltas has recently entered the business and is expected to provide stiff competition to market leader Symphony.
Window air coolers account for over two-thirds of the entire market and are predicted to continue to dominate during the projection period, followed by desert coolers. North India has the highest revenue sales because the area is rapidly increasing, and the increase is being fueled by a move from an unorganised to an organised market.
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