Top 10 AC Brands In India 2023

Last updated on January 27, 2024

In the heat of India, Air Conditioners (AC) have gradually made their cut as a necessity in many households. Due to enhanced purchasing power and increasingly erratic climate conditions in India, air conditioners are no longer considered a luxury but a necessity among most middle-class Indian households. Meanwhile, the availability of financing options and an improved load-shedding scenario across the country have aided this market. In this article, we take a look at the top 10 AC brands in India and the overall room AC market in India.

Room AC Market in India

Penetration of room air conditioners (RAC) is extremely low in India when compared to various developed economies and only one-fifth of the global average RAC penetration. There is tremendous potential in the Indian market, as the overall RAC penetration is relatively low at 8%. An analysis by Frost & Sullivan shows that a total of 8.4 million AC units were sold in India during FY 2023, amounting to INR 252 billion. This sales volume figure was dominated by Split RAC (89%) while the remaining 11% was accounted for by Window AC.

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In the coming years, AC sales volumes in India are expected to touch record highs owing to the factors mentioned above. Now let’s take a look at the best AC brands in India and the companies behind them.

Top 10 AC brands in India

#1 Voltas – Undisputed Leader in Room AC Market in India

Voltas is a TATA product, therefore its name speaks of credibility, reliability, and trust. The brand has expanded widely over the years to create a wide and suitable portfolio for its customers. Apart from ACs, you can find Refrigerators, Air Coolers, Washing machines, Air Purifiers, Dishwashers, Water Purifiers, Microwaves, Water Dispensers, and other accessories at the stores of Voltas. Its AC range consists of Split Air Conditioners and Window Air Conditioners. In these two categories, you will find Maha Adjustable Inverter AC, Adjustable Inverter AC, Inverter AC, Split AC, and Adjustable Inverter Window AC.

In FY 2023, Voltas was the leading player in the room AC market in India with a share of 19%, according to research estimates by Frost & Sullivan. This is a combined market share, consisting of split and window options.

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#2 Daikin – Japanese Technology in India

Daikin has made great inroads in the market in recent years and currently occupies the second spot in the room AC market in India. In FY 2023, Daikin had a market share of 12% in India. A large part of its success comes from increasing domestic production which has extended cost-competitiveness to its product offerings.

It also helps that Daikin is the world’s leading air conditioner manufacturer and has an extensive pan-India presence. The Japanese company also claims to have the widest range of Air Conditioners in the Indian market.

Daikin has its products divided into different categories where it offers its specialized products to cater to the customers. Apart from operating in the RAC segment, the company is present in the commercial, industrial, and cold-chain solution segments.

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#3 Lloyd – From the House of Havells

Lloyd is an Indian brand that has seen the most volatility followed by impressive gains in market share in recent years. Although the brand was placed third in the room AC market, it was only marginally behind Daikin. The brand was acquired by Havells from Lloyd Consumer Durable Business Division in 2017. Following the acquisition, Havells has focused on in-house production of components and finished goods.

The company has a wide range of Split AC, Window AC, Portable AC, Tower AC, and Cassette AC. In addition, the company is also present in LED Television, Washing Machine, and Chest Freezer categories.

#4 LG – Korean Entry Among Top AC Brands in India

South Korean consumer electronics major LG is also among the top AC brands in India. The company has been in the market for several decades and has delivered the best of home appliances and other household articles. LG offers products like TVs, TV Accessories, Refrigerators, Washing Machines, Microwave Ovens, Air Purifiers, Air Conditioners, Water Purifiers, Dishwashers, Vacuum Cleaners, and Monitors among other things.

With its services like LG Certified Installations, Payment Security, and Attractive Offers, the brand has won over millions of hearts in India and around the world. The company offers Air Conditioners in two variants – Split Air Conditioners and Window Air Conditioners. LG products have the latest technology such as AI Convertible 6-in-1 Cooling, Wireless connectivity with the LG ThinQ App, and Voice Control.

At the end of FY 2023, LG had a market share of 9% in India, according to market research estimates.

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#5 Hitachi – Another Japanese Entry

Hitachi is a worldwide known brand and does deliver what it says. With a market share of 8%, Hitachi is a also very well-known brand in India. The products of the company are efficiently designed and even better in quality. They serve a wide customer base with its wide range of products. Hitachi is engaged in a group of diverse activities like digital solutions, IT products, and so on. Their Air Conditioning systems come in different categories such as Yoshi and iZen which also include an ice clean (powered by Frostwash Technology) feature. Hitachi is among the popular choices for AC in the Indian market for its efficiency and durability.

#6 Blue Star – The Challenger

Blue Star is a leading Air Conditioner manufacturer in India that entered the residential AC segment in 2011 and currently gets around 30% of its revenue from it. In FY 2023, the company had a market share of 7% but it plans to grow aggressively and increase its share to 15% by FY 2025, which is estimated to be around 8 million units. Following double-digit growth rates in the past few years, Blue Star’s revenue has reached INR 6,000 crore. In recent years, the company has introduced over 75 products across the inverter, fix speed, and window ACs and has steadily gained market share.

#7 Samsung – Global Leader But Follower in India’s Room AC market

The next popular AC Brand in India is Samsung which ranks at the top in many categories. While the brand is well-known in the Indian market, it has failed to make it big in the category of Air Conditioners. It has a market share of slightly over 6% which is also indicative of the high competition in the market.

Samsung has a wide product portfolio, which includes Mobiles, Television and sound bars, Refrigerators, Washing Machines, Tablets and wearables, Laptops, Monitors, and other Kitchen care products. Such product diversion of Samsung makes it a wholesome brand in many categories.

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#8 Haier – Sole Entry Among Top AC Companies in India

Close on the heels of Samsung is Haier which also has a 6% market share in the AC segment in India and enjoys dominance in the inverter split air conditioner segment. Haier India is a subsidiary of Haier Singapore Investment Holding Pte Ltd which is a leading brand in home appliances and consumer electronics.

Established in 2003, the company has a vast distribution network across the country and focuses on producing premium and high-end products through its state-of-the-art manufacturing facilities. The company has recently opened its second manufacturing plant with an annual production capacity of 2 million air conditioners, 1 million washing machines, and 1 million LED TVs in Greater Noida, Uttar Pradesh.

#9 Carrier Midea

Carrier Midea is a leading player in the Indian air conditioner market with a market share of 6% in FY 2023. Carrier Midea India has exclusive rights to manufacture and sell Carrier and Midea air conditioners in India. The company has its manufacturing facility in Supa Parner, Ahmednagar, Maharashtra, and a pan-India presence in more than 35 cities across the country. The company’s operating revenues range is over INR 500 crore for the financial year ending on 31 March 2023.

#10 Panasonic

When we are talking about the top AC companies in India, Panasonic is an obvious name that pops up in our minds. The brand has given some of the state-of-the-art products and appliances to the Indian Households. Panasonic not only captured the home appliance vertical, but also provides solutions related to beauty care, camera & camcorders, Home Entertainment, batteries, and many other aspects.

Panasonic has designated its Air Conditioners in the categories of Split Air, Window AC, and Commercial AC. This wide range of products fascinates the customers as their very particular needs are fulfilled. Customers can easily find the best-in-design and best-in-operation Air Conditioners with Panasonic. In the room AC market in India, Panasonic had a market share of nearly 5% in FY 2023.

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Conclusion – Top AC brands in India

A quick look at the list of top AC brands in India reveals the highly competitive nature of the industry. A notable brand that has not made it to the list is Godrej simply because its market share is low at 4%. The top 10 AC brands in India capture a staggering 90% of the overall market, leaving little space for new players.

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