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AC sales – some lose while some gain

Air conditioners market displayed a mixed reaction during this festive season as some manufacturers gained market share while some lost. Premium products saw increased enquiries during the festive season while the performance of entry level products was subdued. However, after the festive season, this trend has reversed.

Channel checks show that Voltas has gained, though marginally, in market share. The company’s market share in terms of volume went up by half percent in the first half of the financial year. Manufacturers like LG, Lloyd, Samsung and Haier too have registered more than 100bps gains. On the other hand, some manufacturers like, Blue Star and Daikin lost more than 100bps share in the same period. Interestingly, Hitachi has further lost 60-70bps share in the first half, after seeing share losses in the previous financial year.

Despite the somewhat lacklustre performance in the festive season, AC manufacturers are hopeful about the prospects in the coming busy summer season where they expect to make up for the lost revenue in the last two summer season owing to Covid-19. They expect lot of pent-up demand in the forthcoming summer season which may help to achieve record sales. Also, pick up in the fortunes of the real estate sector is another positive for the AC industry. According to them even if third wave happens it may not last long and will be less effective.

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