AC Market Special - Contributions - India

The second wave of the COVID-19 pandemic adversely affected the Indian room air conditioner (RAC) market during the period from January to June 2021. Nationwide restrictions on opening of shops including e-commerce and movement of people, almost as strict as a lockdown, were applied in most of the states in the country during the peak summer season of April 15 to June 10, resulted in significant loss of sales, leaving the manufacturers and the trade saddled with large inventories of components and finished goods, respectively. However, sales during the remaining first half of 2021 grew significantly over 2020. It is estimated that secondary sales would clock up growth of 30 to 35% over the first half of 2020, though on a low base.