Daikin Targets 2 Million AC Units in India

India: Daikin, an air conditioner manufacturer, aims to produce two million units in India this fiscal year and is exploring more export opportunities by establishing India as a manufacturing hub. The company has already sold 700,000 residential air conditioners (RAC) in the first three months of the year, driven by a particularly hot summer, and anticipates over 50% growth.

Daikin recently inaugurated its third manufacturing facility in Sri City, Andhra Pradesh, and is investing in local compressor manufacturing, with a target to produce five million units by 2030. Currently, over 60% of Daikin India's revenue comes from the RAC segment, with the rest from commercial air conditioning.

The company expects the RAC contribution to rise to 80% in the coming years as market penetration increases.

Daikin operates two manufacturing units in Neemrana, Rajasthan, and one in Sri City, along with three R&D centres in India. The third factory boosts Daikin India's manufacturing capacity to 2.5 million units annually. The company has an extensive presence with over 15,000 sales outlets and a network of 350 Daikin Solution Plazas across the country.

Source: Economic Times