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24/03/2023 04:53pm

AC manufacturers anticipate robust growth this summer season

image AC manufacturers anticipate robust growth this summer season

New Delhi, Mar 24 (KNN) Air conditioner manufacturers in India are expecting a healthy growth in the coming months owing to the predictions of high temperature.

The unpredictable and unseasonal weather is bringing cheer to makers of air conditioners.

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“We believe summer-23 is likely to be a healthy season for AC manufacturers, given soaring temperature and higher probability of occurrence of heat waves across cities and normalisation of commercial activities,” said a report by JM Financial.

Dealers have already started stocking up inventory in anticipation of good sales.

The report suggests that AC demand will pick up this March.

Analysts at JM Financial believe that this year is widely expected to be a little hotter than the previous two years globally “mainly because of the expected end of the strongest ever La Niña event.”

The India Meteorological Department (IMD) too forecasts a searing summer with “above normal” temperatures in most of northeast, eastern, central India and parts of northwest India.

In fact in March, several parts of the country have been impacted with erratic environmental changes including early monsoon, hailstorms and strong winds. This was right after an unusually hot February.

Besides, it also expects heat waves during March-May in most parts of India, except for the northeastern states, Jammu and Kashmir, Uttarakhand, Himachal Pradesh, Kerala and coastal Karnataka.  (KNN Bureau)

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