Samsung’s ‘Wind-free’ air conditioner may increase its contribution in India air conditioner market: Bonafide Research
Samsung is a South-Korean multinational conglomerate that has always brought innovation in its products whether it is television, Air Conditioner, or Washing machine. India is the largest market for Samsung worldwide which makes it dedicated to India exclusively. Samsung India has announced to bring the world’s first “Wind-Free” air conditioner to the country as product innovation.
According to the report ‘India Air Conditioner Market Outlook, 2022’ published by Bonafide Research, India Air conditioner market is projected to grow around 16% of CAGR from 2017-18 to 2021-22. It is comprised of a residential air conditioner and a commercial air conditioner. The residential air conditioner market is further segmented into the Split air conditioner and window air conditioner in which Split ac is growing category outpacing the window ac in the country. On the other hand, commercial ac are divided into Ductable & Packaged Units, Light Commercial Air Conditioners, VRF (Outdoor Units), and Chillers. Among all these, VRF (Outdoor Units) has grown with the highest CAGR over the review period from 2011-12 to 2016-17. In residential ac, Voltas, LG, Samsung, and Daikin have constituted 60% of the market in the year 2016-17.
Samsung today is an unquestioned global technology leader – yet, in this complex and competitive global landscape, the company has been embarking on an active course to transform itself, navigating emergent challengers and new technology categories, as it sets the course for the future. Through strategic investment in products and hedging against risk in market entry, Samsung had become the world’s largest technology maker by the first decade of the new millennium.
In the air conditioning segment, there are two problems namely direct cold air dispersion and sky-rocketing electricity bills which limits the growth of the air conditioner in the country. But now the world’s first ‘Wind-Free’ AC from Samsung will address both of these issues together. They will provide unparalleled cooling comfort with guaranteeing optimum energy efficiency. This custom range of air conditioners employs Samsung’s proprietary Wind-Free cooling technology to maintain room temperature without the need for direct air outflow. It will have two cooling systems; first lowers temperatures in ‘Fast Cooling Mode’ and then automatically switches to ‘Wind-Free Cooling Mode’, creating ‘still air’ once the desired temperature is achieved.
Major companies that operate in the Yogurt market in India are LG Electronic India Private Limited, Blue Star Limited, Johnson Controls-Hitachi Air Conditioning India Limited, Lloyd Electric And Engineering Limited, Voltas Limited, Whirlpool of India Limited, Samsung India Electronics Private Limited, Daikin Air Conditioning India Private Limited, Haier Appliances (India) Private Limited, Panasonic India Private Limited.