The month of March has just bid adieu and the summer seems to be on its peak. With the maximum of 33 degrees in March, Chandigarh recorded the hottest day in seven years. Citing the current situation that will worsen up in the months to come, the demand for air conditioners (ACs) in Chandigarh market will increase to double the times than the usual.
Consumer Electronics and Appliances Manufacturers Association (CEAMA), an industry expert has estimated the growth of 15-18 % in the markets of AC in the northern and eastern parts of India this summer season.
Highlights of the growing AC market
- Almost all the big brands that are manufacturing ACs globally have launched their new products and campaigns across India to tap the larger crowd of the market.
- Many domestic and International brands have slashed prices of their ACs.
- The prices for inverter ACs of LG Electronics India has dropped by up to 25%
- Panasonic India has launched its new range of air-conditioners with an inbuilt air purification system.
- Samsung Indian plans to improve its market growth and has already launched its digital inverter ACs, in February.
- A Chinese company Carrier Midea is also targeting aggressive sales this summer and to be among the top 5 brands in the AC market.
- Even the France- based new brand Groupe SEB India (P) Ltd is also considering itself in the league of best AC and coolers manufacturers this summer season.
- Keeping in mind the hot and humid monsoon last year, all major AC brands are looking forward to tap the rural market this summer season.
AC market @ a glance
Of lately, the AC industry in India has witnessed only growth in the sales and expecting it to extend massively this year too. According to CEMA, the AC industry grew by 7.7 % in last few years and this time it is pegged to rise at a compound annual growth rate (CAGR) of 15% between 2016 and 2020.
I hope the slashed rates of ACs will make all you people of Chandigarh happy but be ready to beat the heat this season as this year is predicted to be hotter than the last year by the India Meteorological Department.
Image Source = Live Mint
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