Before
some years, Symphony Limited, Bajaj, Kenstar and Usha International were the
only few organized players in the air cooler market of India. But today, there
are a host of players which have entered the category including Maharaja, Ram
Cooler, Khaitan, Voltas, Blue Star, Havells, Orient, Marc, Crompton Greaves, Vego,
McCoy, Cello, Hindware and Videocon among others. Air cooler market is seeing
increased competition with the entry of many new companies.
Earlier there were very few
branded players in the air cooler market of India due to low demand for the
product. As the demand started roaring and Symphony's business turned big, at
least 10 to 15 new brands entered into this category. All these new entrants are
helping the organized market to expand. The market has been also driven by the
regular launches of new models by new players with focus on product aesthetics
and shift from metal body to plastic body. Kenstar is trying to customise its
air coolers to suit requirements of different regions in India. The company is
also keeping its distribution strategy different for each region. Voltas, a Tata
group firm, is certain of giving a tough competition to established players -
especially the market leader Symphony. Maharaja Whiteline brand of Groupe SEB is
putting a high priority on new products with innovative features. Traditional
air-conditioner makers like Blue Star and Voltas have also jumped into the
segment. Symphony is taking this intense competition into consideration and has
also made its communication stand large enough. But it seems like the company
is currently focusing on its overseas sales and wants to equalize it with the
domestic ones. This may hold its position of world's largest air cooler company
but the brand's domestic dominance may come under threat.
According to recently
published report of Bonafide Research, 'India
Evaporative Air Cooler Market Outlook, 2022'
, the organized
air cooler industry has crossed a market size of Rs. 2,000 crore in India whereas
the rest is still unorganised. Organized air cooler market is set to grow
profoundly in the next five years, thus lowering the share of unorganized/
local manufacturers. The demand will be majorly fuelled by growing sales in
tier II and III cities, which are reluctant to buy high cost air conditioners for
towering electricity bills. The industry is seeing entry of new players, thus
intensifying the competition with existing players like Symphony, Usha
International, Kenstar, Bajaj and Maharaja.
RISE
OF THE MARKET LEADER - SYMPHONY
After a strategic acquisition
of an air cooler company called Impco in North America, Symphony become a
global leader and gained the title of world's largest air cooler company. Its
presence is spread across 60 countries and leads the organized air cooler
market of India. Apart from leveraging Impco's established relationship with large store formats, the company also commenced
the export of residential plastic air coolers to North America. Impco sells
these air coolers in North, South and Latin American markets. Moreover, Symphony
appointed a country manager for Russia, which saw a spurt in demand for air
coolers in the last few years. In Mexico, it undertook an extensive brand
building exercise through TV and print ad campaign. In 2015, Symphony again acquired
Munters Keruilai Air Treatment Equipment (Guangdong) Co. Ltd (MKE), a company producing
air coolers under the brand Keruilai in China.
All these activities across
the globe show that Symphony has today successfully transformed a business
disadvantage into a potential opportunity. By focusing on sales across the
world, the company has reduced the dependence on seasonality, which usually
comes with the air cooler business. Currently, Symphony has in all 56 models of
air coolers in the residential segment, 5 models each in the commercial and
heavy duty central air cooling range and 6 models in packaged air cooler
segment. The company claims to have 8 patents to its name along with 7
copyrights, 49 registered designs, 108 trademarks and a global R&D centre
recognised by the Government.
EXPANSION
OF PRODUCT PORTFOLIO
In early 2017, Symphony
launched its 'Touch Range'. This range of air coolers
come with i-Pure technology and other features such as digital touch screen,
voice assist, mosquito repellent, six high efficiency cooling pads covering all
the four sides, removable water tank, cassette-type removable pads for easy
maintenance, double blower for powerful air throw, electronic humidity control
and full function remote. The i-PURE technology has PM2.5 wash filter, bacteria
filter, allergy filter and smell & dust filter for delivering cool and pure
air, both at the same time. The range has five models from 20 litres to 110
litres for cooling areas up to 600 square feet.
In May 2017, Orient Electric also
launched a range of new air coolers in the segment of personal, window, tower,
desert and slim desert air coolers. The company has entered into a strategic partnership
with Airtek International, which is a global market leader in home comfort and
energy efficient products. All orient air coolers come with a certification by
Intertek - an internationally acclaimed UK based certification agency. Orient
Electric is now focusing to make air coolers available in newer towns through modern
retail, e-commerce portals and company brand stores with a strong service
network.
MAJOR
COMPANIES
Major companies operating in the evaporative
air cooler market of India are Symphony Limited, Crompton Greaves Consumer
Electricals Ltd., Canbara Industries Private Limited, Ram Coolers, Groupe SEB
India Private Limited, Vego Home Science Private Limited, Orient Electric
Limited, Hindustan Sanitaryware and Industries Limited, Usha International
Limited, Wim Plast Limited, Marc Enterprises Private Limited, KAIL Limited, Khaitan
Electricals Limited, Voltas Limited and Bajaj Electricals Limited.
Base Year: 2016
Estimated Year: 2017
Forecast Year: 2022
Pages: 130, Figures:
35, Tables: 21
CONTACT US
Bonafide Research & Marketing Pvt. Ltd.
Steven Thomas – Sales & Marketing
Manager
Telephone: +91-265-6551309/ +91-7878231309
Website: http://bonafideresearch.com/