New Delhi [India], May 3 : The demand for air conditioners (ACs) have surged during the April month due to the increase in temperature, especially in North and Central India. It has prompted a strong outlook for AC demand until mid-June 2024.
According to a report by Anand Rathi Financial Services Limited, after the surge in demand for AC's the manufacturing companies have increased prices. The AC manufacturing company Blue Star has increased prices by 3-5 per cent across various models.
The report highlights that in South India, particularly Tamil Nadu, AC volumes soared by 40-50 per cent year-on-year (y/y). While Karnataka and Telangana witnessed a 15-20 per cent y/y growth in AC volumes.
In Central India, including Uttar Pradesh (UP) and Madhya Pradesh (MP), AC volumes grew by 15-20 per cent y/y. However, the local dealers have reported shortages of the ACs across brands, leading to increased delivery times.
In North India, particularly in Rajasthan and Haryana, AC demand has surged post-Holi, with volumes growing by 20-25 per cent in April 2024. The report highlights that some dealers anticipated further growth in AC demand by 25-30 per cent in May.
In the Eastern region, Odisha saw a 25-30 per cent increase in AC volumes, while Jharkhand experienced a 10-15 per cent y/y growth. Despite rising demand, no pricing action was observed by any brand in the region, and dealers are facing a shortage in giving timely supply.
The demand for AC in the Western region including Gujarat and Maharashtra have surged in the latter half of April, with volumes growing by 15-20 per cent y/y. According to the report several brands in Gujarat increased prices by 3-5 per cent across various models.
The India Meteorological Department (IMD) said on Wednesday that most parts of the country are likely to record above-normal maximum temperatures in May. The IMD, however, stated that some parts of northwest and central India and adjoining areas of northeast peninsular India are likely to record normal to below-normal maximum temperatures.
According to IMD, the average minimum temperature (22 degrees Celsius) in April in east and northeast India was the highest since 1901.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor