ac manufacturers face 20 percent increase in sales due to rise in temperature
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Keeping up with the rising demand, AC manufacturers are coming out with power-efficient, inverter-powered ACs and ‘smart’ features like IoT and air purifiers. AC manufacturers are also increasing their production to meet the demand.
Residential air conditioner (AC) manufacturers are expecting a 15-20 per cent growth in their sales this year amid an early onset of summer and a longer season. Keeping up with the rising demand, AC manufacturers are coming out with power-efficient, inverter-powered ACs and ‘smart’ features like IoT and air purifiers. AC manufacturers are also increasing their production to meet the demand.
Manufacturers are also expecting an increase in sales of other products such as refrigerators and coolers. Tata group company Voltas said it is expecting huge sales this summer as the temperature across the country has been unusually high. Pradeep Bakshi, Managing Director (MD) and Chief Executive Officer (CEO) of Voltas told PTI, “We have already seen a rise in demand among retailers and buyers to purchase products like ACs, coolers and fridges ”
The Consumer Electronics and Appliances Manufacturers Association (CEAMA) expects around 20 per cent growth in AC sales this year. Eric Braganza, President of SIEMA, said, “With temperatures rising across the country, it seems summer is on the way. If there is no change in the weather or any untoward situation, then it is expected that the sale of ACs will increase by 15-20 percent.” Indian residential AC market to be around 82.5 lakh units in 2022 and record double digit growth.
Johnson Controls-Hitachi Air Conditioning India, which sells ACs under the Hitachi brand name, is also eyeing a significant increase in market share and sales of home-use ACs. Gurmeet Singh, Chairman and Managing Director, Johnson Controls-Hitachi Air Conditioning India, said, “For this year, we are expecting a record double digit growth. The sales growth rate in the first half is expected to be around 25 percent, which will be higher than the growth rate of the entire AC industry.” B Thiagarajan, managing director of Blue Star, said summer is coming early this year and the overall summer season is expected to increase by 20 per cent in 2023 and 25 per cent.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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