AC companies in the country expect bumper sales this year, the industry gave these reasons

Air conditioner (AC) makers are expecting a 15-20 per cent increase in their sales this year amid the early arrival of summer and the possibility of longer duration of such season.

Air conditioner (AC) makers are expecting a 15-20 per cent increase in their sales this year amid the early arrival of summer and the possibility of longer duration of such season. Keeping up with the rising demand, AC manufacturers are coming out with power-efficient, inverter-powered ACs with smart features like IoT and air purifiers. AC manufacturers are also increasing their production to meet the demand. Apart from this, manufacturers are also expected to increase the sales of other products like refrigerators and coolers.

Possibility of overheating

Tata group company Voltas said it is expecting huge sales this summer as the temperature has risen abnormally across the country. Pradeep Bakshi, Managing Director (MD) and Chief Executive Officer (CEO) of Voltas said that 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 about 20 per cent growth in AC sales this year.

SIEMA President Eric Braganza said that with the temperature rising across the country, it seems that the summer season has started coming. He said that 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.

Growth will remain in double digit last year

The Indian AC market was around 82.5 lakh units in 2022 and registered a record growth in double digits. Johnson Controls-Hitachi Air Conditioning India, which sells ACs under the Hitachi brand name, is also expecting a significant growth in market share and sales of home-use ACs.

Johnson Controls-Hitachi Air Conditioning India Chairman and Managing Director Gurmeet Singh said that for this year we are expecting a record double digit growth. He said that the sales growth rate in the first half is expected to be around 25 per cent, which will be higher than the growth rate of the entire AC industry. At the same time, Blue Star Managing Director B Thiagarajan said that summer is coming early this year and overall 20 per cent growth is expected in 2023, while 25 per cent increase in summer season is expected.