ACs selling like hot cakes as mercury soars
Avneet Kaur
Jalandhar, May 21
The soaring mercury has led to a surge in demand for air-conditioners in the city. Market observers report that the demand for air-conditioners has risen by nearly 15 to 20 per cent as compared to the same period last year.
This surge is attributed to the extreme hot weather and the rising cost of desert coolers, prompting consumers to opt for more energy-efficient air-conditioners.
Abhishek Verma, Business Head of Air Conditioners Group at Panasonic, said the Indian Residential Air Conditioning (RAC) industry was experiencing a surge in demand due to increased disposable income, growing urbanisation and technological advancements. However, AC penetration in India continues to be at approximately 7 per cent. Verma noted that this season, demand was already up and they expect the Indian AC market to grow by 25 per cent as compared to last season.
He highlighted that inverter ACs account for more than 95 per cent of their sales. In Northern India, inverter AC sales grew by 29 per cent from January to April 2024 as compared to the same period in 2023. Looking ahead, he said they expect to sustain this momentum and achieve over 30 per cent growth across the entire Northern region.
Vivek Sharma, who owns an electronics shop at Phagwara Gate here, said the surge in demand for ACs this season led manufacturing companies to increase prices. Most manufacturing companies have raised prices by 3-5 per cent across various models. “Earlier, people preferred desert coolers over ACs. With the increase in prices of coolers, air-conditioners have now become a better option to beat the heat,” he said.
Shyam Bahadur, who works at a car repair shop, was seen at an electronics shop purchasing an AC. Talking to Jalandhar Tribune, he said: “We have a cooler at home, but it’s not effective these days. My kids have been asking for an AC for a long time, so I decided to buy one on EMIs,” he said.
Manufacturing firms jack up prices
Vivek Sharma, who owns an electronics shop at Phagwara Gate here, said the surge in demand for ACs this season led manufacturing companies to increase prices. Most manufacturing companies have raised the prices by 3-5 per cent across various models. Earlier, people preferred desert coolers over ACs. With the increase in prices of coolers, air-conditioners have now become a better option to beat the heat.
