India has experienced extreme heat waves this year. The highest temperature recorded this year in April was 45℃. Amid the scorching heat, the demand for cooling appliances, especially air conditioners, has witnessed a sharp uptick, and the industry has registered cumulative domestic sales of air conditioners of nearly 6 million units in the first half of this year.
The AC industry has faced an unprecedented increase in sales even after makers hiked the price two to three times in the last six months.
Voltas has sold nearly 1.2 million residential AC units, while LG electronics has recorded over one million units of residential inverter AC in the first half of the year.
However, some air conditioner makers are evaluating changes in their input costs as the Indian rupee reported a historic low against the US Dollar and the recent revision by the government Bureau of Energy Efficiency (BEE) in the star rating of AC.
“The January to June AC market (domestic) must be close to 6 million units. We never had such a high sales number in the past. I expect the second half to be in the region of around 2.5 million units and end this year with around 8.5 million units,” said Consumer Electronics and Appliances Manufacturers Association (CEAMA), president Eric Braganza.
Voltas is the number one seller in the first half of 2022. Other air conditioner manufacturers such as Hitachi, Dainik, Panasonic and Haier also witness significant sales and expect an encouraging number for the remaining second half.