Industry News

Panasonic India Launched Top-End Air Conditioner Brand, Sky Series

Consumer electronics player, Panasonic India, launched a new range of air conditioner, Sky Series with radiant cooling system.

India: To boost their sales, Panasonic India, has launched an air conditioner with radiant cooling system, which cools the room by removing heat from ceilings and walls. In addition, the company is offering fitted advanced air purification system, Nanoe-G, at no extra cost, with the newly launched air conditioner.

The newly launched air conditioner is priced at USD1,076 and USD1,305 for 1 and 1.5 tonne capacity, respectively.

Currently, air conditioners account for 15% of the total turnover of the company. Last year, the company’s air conditioners sales grew by 20% and in coming fiscal year, the company is expecting an increase of 30-35%, backed by innovative product offerings. Panasonic’s air conditioner business is around USD230 million.

TechSci Research depicts that with increasing competition in the India air conditioner market, the company’s move to launch new series of air conditioner will help them to sustain and compete in the market. Further, the company’s decision to offer in-built air purifier, will help them to enhance their customer base as well as revenue.

According to a recent report published by TechSci Research, India Air Conditioners Market By Product Type, By End Use Sector, By Tonnage Capacity, By Top City Competition Forecast & Opportunities, 2011–2021”, the air conditioners market in India is anticipated to cross US$ 6 Billion by the end of 2021. Light commercial air conditioners segment dominated the country’s air conditioners market in 2015, and the segment is anticipated to maintain its dominance over the next five years as well, owing to their various advantages such as energy efficiency, lower running cost, easy availability and integration of latest technologies. Southern states in India generates the highest revenue from air conditioners in the country, followed by northern states. Few of the leading players operating in India air conditioners market includes Voltas, LG, Daikin, Samsung, Blue Star and Hitachi, among others.

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