This year's blistering heatwave has led to an unprecedented spurt in the sale of room air-conditioners across the country, and the industry expects a record annual sale of about 14 million units, according to the Consumer Electronics and Appliances Manufacturers Association (CEAMA).
Sales numbers in May were phenomenal, and for this industry also, the demand has been extremely good. In summer months itself, this will represent volume growth of 30 to 40 per cent," said Sunil Vachani, President, CEAMA. The steady increase in the temperature with the frequency of the heatwaves is definitely making air conditioning more of a "must-have" for urban Indian households, Vachani added.
The Indian AC market is witnessing a transformation, buoyed by the presence of energy-efficient models that serve multiple income groups and a wide range of investments by companies in local manufacturing facilities for components.
Vachani is bullish and sees annual sales of 14 million units per annum on the cards, stating that the growth story of this sector has been very robust. The Indian residential AC market is estimated to be in the region of 10-11 million units, and key players include Voltas, LG, Hitachi Johnson, Lloyd, Panasonic, Daikin, and Godrej. This season has been a very harsh one, and the mercury has soared past the 45-degree Celsius mark in most parts of the country, including Delhi-NCR.
Major appliance manufacturers have said sales of energy-efficient models doubled in volume in May, despite issues like installation delays and restocking of inventory of energy-efficient models that have higher demand. Vachani, on his part, said the unprecedented heatwave, the worst in decades, had led to demand for cooling solutions, and May was unprecedented in terms of demand.
Momentum is expected to continue, with volumes on a growth path of 30-40 per cent for the summer alone, he said. Establishing indigenous manufacturing of components under the PLI scheme by the industry has been the other effort that helped to meet the rising demand. NS Satish, President, Haier Appliances India, said consumers' need for efficient, smart, and quality air conditioning was constant, more so in summers when temperatures are on the higher side.
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