Indian consumers are increasingly buying air-conditioners that have features such as purification technology, online connectivity and are energy-efficient compared to three-years back, according to consumer durables companies.
Over the last three years, connected AC has contributed to 50 per cent of sales for Panasonic, while more than 70 per cent of consumers of Voltas air conditioners prefer purification technology-enabled ACs.
“Last year between January and December 2022 about 46 per cent of total sales through the offline channel was of connected ACs. There is an uptick in demand for smart and connected ACs. Post the pandemic people that want to maintain good indoor air quality,” said Gaurav Sah, Business Head, Air Conditioners Group, Panasonic Life Solutions India
“The customer demand quickly shifted to appliances that not only provide ambient cooling but also keep the indoor environment free from germs and pollutants. According to our research, 77 per cent of Indians want their air conditioners to be upgraded with purification technology. To cater to this specific need, we launched the all-new range of air conditioners called the PureAir Inverter AC with HEPA Filter technology, Super UVC technology, and TiO2 coated air filtration system,” states a statement from Voltas.
Quick finance options available for consumers have also resulted in an uptick in demand for premium air-conditioners.
Increase in capacity
While in metro cities, the demand for 1-ton ACs is predominant, companies are witnessing an uptick in demand for 2-ton ACs.
“In line with the rising demand, we recently launched the new range of Haier heavy-duty air conditioner series in 1.6 ton that is equipped with the high cooling capacity and a 5-star rating for efficient energy saving,” said Satish NS, President, Haier India.
“In the case of air conditioners, it’s more of a contrarian trend, where consumers are preferring lower capacity ACs. This is on account of reducing flat sizes over the years,” said Pushan Sharma, Director- Research, CRISIL Market Intelligence and Analytics.
Demand uptick this summer
With heat waves in many parts of the country and the weather department forecasting the hottest summer ever this year, consumer durable companies are witnessing a significant uptick in demand for ACs this summer compared to last year.
“The market trends predict a growth of more than 30 - 40 percent this year and we are determined to achieve a double-digit growth in the AC segment,” added Satish.
“In February and March collectively, Panasonic is observing a double-digit year-on-year growth,” added Gaurav Sah.