A strong El Nino-led summer in 2026 could trigger a cyclical upturn for India's consumer durables sector, particularly cooling products such as air conditioners, air coolers and fans, according to a report by Anand Rathi Research.
The Indian air conditioner (AC) industry is expected to register a robust 19 per cent CAGR growth over the next three years, driven by rising temperatures and increasing disposable income, according to a report by Motilal Oswal.
The demand for air conditioners (ACs) have surged during the April month due to the increase in temperature, especially in North and Central India. It has prompted a strong outlook for AC demand until mid-June 2024.