Air Conditioner Market

A heat wave that's baking the subcontinent sent electricity demand soaring last week, as tens of millions of air conditioners cranked up to take the edge off intolerable temperatures

Strong summer demand, low base and inventory push to support AC growth despite price hikes, raw material inflation and evolving energy efficiency norms

As the mercury starts rising, leading room airconditioner makers are increasing prices in the range of 5-15 per cent to offset sustained increases in raw material costs and supply chain expenses. The hikes, being rolled out between February and April, come just ahead of the peak summer season when demand typically surges. Leading players, including Daikin, Voltas, Blue Star, LG, Haier, and Mitsubishi Heavy Industries, have announced increases across models, passing on higher input costs for key raw materials such as copper, a weaker rupee, new energy-efficiency norms and an increase in freight costs. Industry executives said while adjustments are unavoidable, they expect strong sales momentum this year, aided by forecasts of a hotter summer and improved energy savings from new star-rated models. Daikin India is going to increase prices by up to 12 per cent from April, and the hike in prices would depend on model to model, its Chairman & Managing Director Kanwaljeet Jawa told ...

Voltas posted largely in-line revenue for Q3, but better-than-expected profitability, particularly in its UCP segment, prompted a reassessment of near-term margin trends among analysts.

Voltas management has indicated that Q3FY26 trends are in line with internal expectations, with most sales still driven by products under the old energy rating table.

Japanese conglomerate Daikin will invest Rs 1,000 crore in Haryana to set up a research and development (R&D) centre which will focus on the development of advanced technologies and sustainable industrial solutions, the state government said on Wednesday. A Memorandum of Understanding (MoU) was signed in Osaka, Japan in the presence of the state Chief Minister Nayab Singh Saini, who along with a high-level delegation is on an official visit to the country from October 6-8. Under this agreement, Daikin Industries Limited will invest Rs 1,000 crore in Haryana to establish a new R&D centre, which will generate employment opportunities for the youth, a state government statement said here. The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Department of Industries and Commerce, Haryana, and Shogo Endo, Deputy Managing Director, Daikin Industries Limited. The Haryana delegation members include Industries and Commerce Minister Rao Narbir Singh, Chief Principal ...

Analysts highlighted elevated channel inventory, delayed consumer purchases, and a weak summer season as key challenges for the quarter for Voltas.

This spring, the owners installed air conditioning - discreet Mitsubishi Compact+ units mounted against the exposed stone walls to preserve the château's traditional charm

According to JM Financial, Voltas and the overall RAC industry saw a 20-25 per cent year-on-year (Y-o-Y) volume decline in April and May, primarily due to unseasonal weather.

Rain came early, sales didn't as cooling firms face a bloated inventory and damp volume squib

More air conditioners will also increase the demand for electricity, most of which comes from burning coal - a major source of climate pollution

Consumers may be able to turn in their old units and receive a certificate that can be redeemed while purchasing a new five-star AC, that can save up to ₹6,300 a year in electricity bills

Blue Star Ltd. expects as much as 30 per cent growth over the summer, with a significant increase in sales in smaller cities, Managing Director B Thiagarajan said

Godrej Enterprises Group expects sales of its air conditioners to grow 50 per cent in the next fiscal on the back of continued robust demand and its new range of products, including smart ACs, a top company official said on Tuesday. With the early onset of summer, the group expects the overall industry demand for ACs to be strong at around 30-35 per cent growth but not as high as 60 per cent witnessed last year due to a high base, Godrej Enterprises Group, Business Head & EVP, Appliances Business Kamal Nandi told PTI here. The group on Tuesday ramped up its AC portfolio, including a premium range of smart ACs and also announced its foray into the commercial AC segment with Cassette ACs and Tower ACs. "We will be ending this year (FY25), doubling our volumes. We will be closing this year with about 10 per cent market share. This is up from 6.7 lakh to 14 lakh units. We are growing more than 100 per cent against industry growth that will be roughly about 36 per cent," Nandi said ...

Haier, the third-biggest home appliances maker in the country with a close to 10 per cent share in the AC market, is ramping up capacities to address increased demand in the coming period

Danfoss, a leader in heating, ventilation, air-conditioning and compressors has set a target to progressively ramp up local manufacturing capabilities over the next five years, supporting the Centre's Make in India campaign, the company said on Tuesday. Danfoss India, a subsidiary of Denmark-based Danfoss, earlier this year committed to a Rs 500 crore investment aimed at developing local manufacturing for HVAC (Heating, Ventilation, and Air-conditioning), and refrigeration compressors and controls. As the country's heating, ventilation, air-conditioning, and refrigeration sector continues to expand rapidly, Danfoss management's decision to support its customers through increased localisation and the addition of new product lines for compressors, heat exchangers, and controls will help bring world-class Danfoss solutions to the Indian market, the company said. "India is a key pillar in our global strategy, and we are committed to driving growth and sustainable innovation in the regio

Air-conditioner maker Blue Star Ltd on Wednesday said Oman's WJ Towell & Co LLC has increased claim to Rs 461.74 crore from it in their ongoing arbitration proceedings at International Chamber of Commerce. In April this year WJ Towell & Co LLC (WJT) had filed arbitration proceedings against Blue Star with International Chamber of Commerce (ICC) claiming OMR 103,18,000 (approximately Rs 223.6 crore) plus an interest of 7 per cent on the total claim amount, the company said in a regulatory filing. "In the statement of claim received by the company on October 1, 2024, the claim amount has been revised to OMR 2,11,80,748 (approximately Rs 461.74 crore) plus interest of 7 per cent on the total claim amount," it added. "The company reiterates that the claims filed by WJT are frivolous, unsubstantiated, premised on fundamental factual misstatements and contrary to the overwhelming facts and evidence," Blue Star said. Based on its assessment, the company said the claims made by WJT ...

According to recent regulatory filings by Daikin Airconditioning India with the Registrar of Companies (RoC), this capital was provided in two phases: Rs 600 crore in June and Rs 800 crore in August

With its rising middle class, India is one of the world's fastest-growing markets for air conditioners, set to surpass the US to become the second-largest behind China by 2036, according to IEA

In the April-June quarter, Blue Star's revenue from electro-mechanical projects, commercial air conditioning systems, services and international business grew by 9.5 per cent