Planning to buy new window or split AC this summer? Save money! Important update for buyers

Are you planning to buy new AC this summer to get rid of scorching heat? Here is something very important AC buyers should know to save money!

Leading AC manufacturers are betting on high double-digit growth this year even as they are firming up plans to increase prices of residential air conditioners by 5 to 8 per cent before the crucial summer season starts, as per a report by news agency PTI.

Leading players such as - Voltas, Daikin, LG, Panasonic, Haier, Blue Star and Samsung - are expecting a high double-digit growth, as they are betting on pent-up demand, sweltering summer and continuance of work from home, which will create demand for additional cooling products, the report addd.

Further the report says, this season, several makers have introduced health and hygiene features in their range of ACs, claiming to protect their customers from the virus amid the pandemic. They are also providing no-cost EMI, cashback and easy accessibility to boost sales.

This year, the makers are expecting a decent growth in sales from the smaller tier III, IV & V towns as markets in these regions were less impacted by the pandemic, good monsoon and availability of power after the government's rural electricity drive.

The Indian residential AC market is estimated to be around 7 to 7.5 million units per annum and over 15 companies compete in the segment.