Mitsubishi Electric expects double-digit growth in the residential air-conditioner segment this year as the company bets on its technology. The Japanese electrical equipment manufacturing firm also expects “a good share” from the non-metro markets besides top cities in the coming season due to fast adoption of the latest technology like inverter-type air conditioners in those regions.
Mitsubishi expects sales of the residential AC units to go up as the mercury increases, though extended winter in northern region and cold nights in southern region have led to a slower start in the industry.
“We expect to have double-digit growth over last year and expect to continue with the highest market share in the premium segment,” Mitsubishi Electric India Product Group Head – VRF, Living Environment Division Dipu Manuel told PTI.
However, the company has not shared its growth numbers and targeted unit growth.
Mitsubishi has over 30 stock keeping units in the residential segment this season in which it claims some items to be specifically designed to cater to the high ambient conditions in India.
“We expect the high ambient models to sell even in places where the actual ambient conditions are less than 52 degrees Celsius, due to urban heat effect, short cycling of air due to lack of enough space in outdoor location,” he added.
According to Manuel, awareness on technology is leading to faster adoption of inverter technology over fix-speed AC systems although they are costlier.
Indian air condition market is expected to be around four million units and over 20 companies are competing in the space.―Money Control