Technical advancements such as cost-effective equipment and decrease in prices of components have fueled the growth of the Air Conditioner Market. High energy consumption and fall in electricity prices are the major challenges. The market was valued at INR 293.37 Bn in FY 2021. It is expected to reach INR 991.57 Bn in FY 2027, expanding at a CAGR of ~24.30% during the FY 2022 – FY 2027 period
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