As per an ANI report, India Meteorological Department’s (IMD) forecast of a more than longer heatwave this summer, has given a reason to cheer for the air conditioner manufacturers. AC makers in India are ready with their stocks and are also launching a new range of summer appliances for the mass market.
Voltas achieved the highest ever AC sales in the just concluded year 2023-24. The company achieved over two million AC units during the year, with a volume growth of 35 per cent. The company attributed the sales growth to a consistent demand for cooling products during the year, among others.
Blue Star, another major in this space, this week launched a range of room ACs. The company noted that the market is witnessing significant demand owing to burgeoning middle-class consumers with higher disposable incomes. Also, with scorching heat room ACs are increasingly becoming more of a necessity than a luxury.
Blue Star at a launch event in New Delhi said that the company is observing a rise in the demand from first-time purchasers in the country, particularly those from the Tier-2, Tier-3, and Tier-4 segments. There is also some demand from the replacement market, reported the agency. According to Managing Director B Thiagarajan, the air conditioning market will rapidly rise in the next few years.
Hitachi, another major player in the cooling space, introduced a smart range of ACs. The wi-fi-enabled ACs start at Rs 39,000 and will be available for consumers across all leading outlets and e-commerce platforms.
LKP Securities, a financial advisory company, noted that room AC demand across India has picked up now as the temperature has started going up across India. It said pricing has remained largely the same but the margins given to the dealers and distributors have come down.
