With temperatures already soaring in February, especially in Northern India, companies manufacturing and selling air conditioners, refrigerators and ice cream are anticipating another summer of robust demand. Delhi recorded the second-hottest day of the season on Monday, with a maximum temperature of 29 degrees Celsius, 4.6 degrees above normal.
“With the Indian Meteorological Department (IMD) forecasting rising temperatures, we at Voltas anticipate a significant increase in demand for cooling solutions like air conditioners and refrigerators due to the early arrival of summer,” Pradeep Bakshi, Managing Director & CEO of Voltas Limited told TNIE.
Bakshi added that to address the demand, particularly from Tier-II and Tier-III markets, Voltas is expanding its manufacturing capabilities and offering a wide range of products across the cooling categories. In FY24, the Tata Group company sold over 2 million units of air conditioners, reflecting a 35% growth and maintained its leadership position.
Industry figures estimate that total AC sales in India stood at about 13.5 million units in 2024, an increase from 11 million units sold in 2023. The refrigerator segment is also said to have grown in double digits last year.
“This year, we plan to surpass this number (2 million AC) as well. The early onset of elevated temperatures, coupled with the expected income tax relief and a slower inflation rate, is likely to fuel consumer spending on durable goods, including cooling appliances,” stated Bakshi. The increase in the pace of electrification and rising disposable income is also supporting growth of consumer durable goods.
Mohit Khattar, CEO of Graviss Foods (Baskin Robbins), said that they are witnessing an exciting shift with ice cream demand growing earlier than usual this year. “Changing weather patterns, evolving consumer habits, and an increasing inclination toward indulgence and comfort foods have contributed to this trend,” stated Khattar.
He added that 2024 was a milestone year for them, as they opened the 1000th store in India and the subcontinent. “With 120 new stores opened overall in FY24-25 and a laser focus on innovation and premiumisation, we are likely to continue to out-pace the market in terms of demand growth for our brand,” said Khattar.
In general, with rising temperatures, Khattar said that they expect a surge in footfall across their stores across India and also higher online orders via Q-commerce and e-commerce platforms. When the heat is not intense, especially until early April, Baskin Robbins expects the walk-in business to be strong and expects online business to surge as the heat intensity increases, he added.