Carrier bullish on AC market in North

Air-conditioning and refrigeration major Carrier on Monday said it was bullish on the North India market, including Uttar Pradesh.

The company, which launched its new range of ‘green’ products in UP, said the market was growing very fast in the region.

“The domestic AC market is estimated at about Rs 10,000 crore and is expected to grow almost 20 per cent this year,” Carrier Airconditioning & Refrigeration director (marketing & strategy) Krishan Sachdev told the media here.

The share of the residential AC segment is about 2/3rd of this pie.

He added that the company was confident of growing faster than the industry average.

 

“The AC penetration is quite low in India at 3 per cent, therefore the segment would continue to grow fast, including both in the big and smaller centres,” Sachdev added.

The UP market accounts for roughly 10 per cent of the country’s retail AC segment. The annul market for window and split AC in the state is estimated at 3,00,000 units.