Air Conditioner Market

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

Air conditioning maker and engineering services provider Voltas Ltd on Monday reported an over two-fold jump in consolidated net profit at Rs 335 crore for the first quarter ended June 30, 2024, led by a "significant volume growth" from its room AC business. Besides, the Tata Group firm also achieved the "milestone" of one million units of AC sales in Q1 FY25" and its total income crossed Rs 5,000-crore mark in the June quarter. It had posted a consolidated net profit of Rs 129.42 crore in the April-June period a year ago, The company said in a regulatory filing. Voltas' revenue from operations was up 46.46 per cent in the June quarter. It was at Rs 3,359.86 crore in the corresponding quarter a year ago. Total expenses of Voltas increased 41.44 per cent to Rs 4,520.40 crore in the June quarter of FY25. Voltas' total income in the June quarter was up 45.81 per cent to Rs 5,001.27 crore. In the first quarter of this financial year, Voltas' revenue from "unitary cooling products for

The air-conditioning industry, valued at around Rs 27,500 crore (USD 3.3 billion), is likely to double in the next four years, Blue Star has said in its annual report. The Indian HVAC&R (heating, ventilating, air conditioning and refrigerating) is poised for exponential growth, said Blue Star Chairman & Managing Director Vir S Advani. This growth would be driven by factors such as low penetration of room ACs and the burgeoning middle-class consumers with high disposable incomes, especially from smaller Tier III, IV & V markets. The Indian The overall AC industry (both residential and commercial), currently valued at around Rs 27,500 crore, is likely to double in the next four years, Advani said in his address to the company's shareholders in the annual report for 2023-24. The company is optimistic about its future business outlook, given the changing weather pattern, resulting in hotter summers coupled with a new and resilient product portfolio in residential and ...

The India room air-conditioners (RAC) market is likely to grow at a healthy CAGR of 12 per cent to reach Rs 50,000 crore by FY 2028-29, Tata group firm Voltas said in its latest annual report. The competition in the Indian RAC market has "intensified" with the presence of homegrown and leading foreign players, said Voltas, a market leader in the segment. Moreover, the competitive "intensity is going to increase" further in the near future, the company said while discussing challenges and opportunities. Factors like increasingly hot summers, rising disposable incomes, and the quest for a better lifestyle with easy access to consumer finance are likely to drive growth for this room air-conditioner segment. "The Indian RAC market is expected to grow at a healthy CAGR of 12 per cent to reach a figure of Rs 50,000 crores by 2028-29," said Voltas. Voltas sold over 2 million AC units in 2023-24, which, according to the company, was the highest number of ACs ever sold by any brand in a si

The investment will help the co to increase production capacity to 15 lakh units per annum at both plants. It currently produces 9 lakh units at its Ghiloth plant and 11.2 lakh units at Sricity plant