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The world's largest 'Symphony' versus a host of new brands in the Indian air cooler market!
By: Bonafide Research & Market Pvt. Ltd.
By Anita Patil, Assistant Manager at Bonafide Research
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.
According to recently published report of Bonafide Research, 'India Evaporative Air Cooler Market Outlook, 2022' (http://bonafideresearch.com/
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 (http://bonafideresearch.com/
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' (http://bonafideresearch.com/
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 (http://bonafideresearch.com/
Report:India Evaporative Air Cooler Market Outlook, 2022 (http://bonafideresearch.com/
Base Year: 2016
Estimated Year: 2017
Forecast Year: 2022
Pages: 130, Figures: 35, Tables: 21
Bonafide Research & Marketing Pvt. Ltd.