Voltas Projects Robust Growth in Indian Air Conditioner Market

The Indian room air-conditioners market is projected to grow at a 12% CAGR, reaching Rs 50,000 crore by FY 2028-29, according to Voltas. Increasing competition, rising disposable incomes, and hotter summers are driving this growth. Voltas aims to maintain leadership through expanding outlets and addressing component import challenges.

PTI | New Delhi | Updated: 16-06-2024 14:46 IST | Created: 16-06-2024 14:46 IST
Voltas Projects Robust Growth in Indian Air Conditioner Market
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In its latest annual report, Tata Group firm Voltas has projected a healthy growth trajectory for the Indian room air-conditioners (RAC) market, which is expected to reach Rs 50,000 crore by FY 2028-29, marking a 12% compound annual growth rate (CAGR).

However, the market dynamics are intensifying, with heightened competition from both homegrown and international players. Voltas highlights the challenges and opportunities lying ahead as more consumers seek air conditioning amid increasingly hot summers and rising disposable incomes.

Despite these challenges, Voltas secured impressive sales figures, selling over 2 million AC units in 2023-24, the highest ever for a single brand in one year. The company also set a quick sales milestone by moving 1 million units in just 110 days from January 1, 2024, to April 20, 2024.

Going forward, Voltas aims to further cement its market leadership through the expansion of its Exclusive Brand Outlets (EBOs) and other channels.

The report also noted an increasing demand for commercial air conditioning driven by comfort and sustainability needs. The competitive landscape in this sector is also expected to sharpen with more foreign players entering.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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