The Indian air conditioner market is set to reach unprecedented heights in 2024, with projections indicating annual sales may hit a record 14 million units, according to the Consumer Electronics and Appliances Manufacturers Association.
The blistering heatwave this year has skyrocketed demand for room air conditioners across the country, with the Consumer Electronics and Appliance Manufacturers Association predicting a record annual sale of approximately 14 million units.
Consumer Electronics and Appliances Manufacturers Association (CEAMA) President Sunil Vachani told PTI that the industry saw “record-breaking figures” for AC sales in May and expects a 30-40% increase in volume growth during the summer season alone.
AC sales increased dramatically in May 2024, more than doubling those of the previous year. AC demand is also being boosted by increased consumer preference for inverter ACs, which are more energy efficient and operate quietly.
The industry is transitioning to more sustainable and cost-effective cooling solutions, with indigenous manufacturing playing an important role in meeting this demand.
CEAMA President Sunil Vachani emphasised the importance of local manufacturing and technological advancements in this growth trajectory. The association is optimistic that this momentum will continue as India’s summers become hotter and consumers prioritise comfort and energy efficiency.
Overall, the Indian air conditioning market is expected to set new records this year, owing to climatic conditions, consumer trends towards energy efficiency, and advances in local manufacturing capabilities. This growth demonstrates the industry’s resilience and adaptability in meeting changing consumer needs.
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