The air conditioning market is one of the few segments that have been stable since the last three-four years. The total air-conditioning industry is estimated to be around Rs 3,000 crores with central air-conditioning including packaged and ducted air-conditioning systems estimated to be around Rs 1,200 crore. Windows and mini-split air-conditioners are estimated at Rs 1,800 crores, with window ACs cornering 80% of the market.
Prior to 1997, corporations, institutions and the government dominated the consumer segment. They did around 85–90 per cent of the buying. It was only in the year 1997 that the home segment picked up. The institutional segment accounted for 65 per cent while the rest went to the home segment. The average growth for the last five years in the residential segment has been around 24 per cent.
LG has priced their split-ACs at Rs 35,000. If they have estimated a market share of 70% in the split-AC market, then how many split-ACs would they be selling approximately?