Demand for ACs, inverters, generators and air coolers is estimated to rise 35-45 per cent this season compared to last year due to the onset of early summer and a sudden rise in temperature in most parts of India, according to an Assocham survey. The survey observed that the demand for air conditioners (ACs) has shot up in the last three weeks in all major cities across the country, with sales expected to increase by 40-45 per cent this year.
The survey, based on feedback from retailers and distribution chains, estimated that the demand for power backup devices like inverters and generators is expected to rise 20-25 per cent this season, as compared to last year. Apprehensions of deficient rains would add to the demand for electric gadgets including power backup devices like generators and inverters, it said.
Seizing the opportunity, consumer finance companies are tempting consumers with offers like zero interest options, adding to the demand surge, the survey noted. Moreover, in bigger markets and well-off areas, demand for split ACs is witnessing a sharp rise, though the base remains low.
You may also like to watch:
“As the window space is an issue in growing cities, the 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,” Assocham Secretary General D S Rawat remarked.
With the increase in demand for electricity and peak hour shortages seen in states like UP, Punjab, Haryana, Rajasthan, Tamil Nadu, Karnataka, among others, the demand for the power back up devices like inverters and generators is expected to rise by 20-25 per cent this summer over the same period last year, the survey said.
Besides, AC maintenance companies reported a 100 per cent jump in demand over the past week alone as residents grappled with stifling conditions in homes and offices, the survey noted.