Owing to the onset of an early summer this year, the sale of Air conditioner (ACs), inverters, generators and air coolers shot up, with an estimated 35 to 45 percent increase in demand as compared to last year, an ASSOCHAM survey revealed.
In all the major cities, the demand for ACs has seen a sharp pick up in the last three weeks, particularly in the northern, western and eastern parts of the country.
The apprehensions of deficient rains because of a possible El Nino is believed to increase demand for devices providing power back-up like generators and inverters, the survey claimed. Seizing the opportunity, consumer finance companies are offering schemes claiming zero interest options, adding to the demand surge, the survey noted.
In bigger markets and well off areas, the demand for split air conditioners is witnessing a sharp rise, though the base remains low.
"As the window space is an issue in growing cities, split ACs are preferred. Besides, the segment has caught the imagination of the better off and upper middle class people, though the price differential between the window and split is upward of 30 per cent", said D S Rawat, Secretary General, ASSOCHAM.
"Awareness about the star ratings for the electric devices is on the rise, which is a good sign," he added.
The survey further revealed that the customer is a lot more conscious about energy saving devices thanks to high cost of electricity.
With the increase in demand for electricity and peak hour shortages still seen in several states like UP, Punjab, Haryana, Rajasthan, Tamil Nadu, Karnataka, among others, the demand for the power back up devices like invertors and generators is expected to rise by 20-25 percent this summer, compared to last year. Such devices are in more in demand in tier-II and tier-III cities.
Though air coolers are giving way to air conditioners, the product design for the former has really seen quite an improvement. Some of the high end air coolers are coming in compact design and shape. However, the key lies in their difference in pricing and power consumption as compared to ACs.
AC maintenance companies reported a 100 per cent jump in demand over the past week alone while residents grappled with stifling conditions in homes and offices, the survey further stated.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)