Heatwave drives record demand for air-conditioners

The blistering heatwave this year has skyrocketed the demand for room air-conditioners across the country, expecting a record annual sale of around 14 million units, according to the Consumer Electronics and Appliances Manufacturers Association.

The industry had "record-breaking figures" for sales of air-conditioners in May and expects a surge of 30 to 40 per cent in volume growth in summers alone, Consumer Electronics and Appliances Manufacturers Association (CEAMA) President Sunil Vachani told PTI.

Also read/watch - Schengen Visa fees to increase by 12% starting June 11

Soaring temperatures and heat waves have now made AC a "quintessential requirement" for households across urban areas, he said.

The Indian AC market is also evolving helped by energy-efficient models that are suitable across income brackets and by investment by the companies in indigenous manufacturing units of components.

"As the market evolves, we expect annual sales volumes to be around 14 million units, highlighting the sector's robust expansion," Vachani said.

The Indian residential AC market is expected to be around 10-11 million units, in which brands like Voltas, LG, Hitachi Johnson, Lloyd, Panasonic, Daikin, and Godrej compete.

The country has witnessed a record temperature this season when the mercury has even crossed a record of 45 degrees Celsius at some places, including Delhi-NCR.