Panasonic Targets India as its Largest Global AC Market
- brg_news_room
- 1 day ago
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India: Panasonic expects India to become its largest global air-conditioner market within the next five to seven years, driven by strong demand growth and low household penetration. Only about 10% of Indian households currently own an air conditioner, compared with much higher adoption levels in China and Thailand. An executive stated that 'India's room AC market is already No. 2 for us globally' and 'maybe in a five- to seven years' time frame, we will be the No. 1 market for us globally.'
To support expansion, Panasonic plans to double its manufacturing capacity in India to two million units by fiscal 2028 and position the country as an export hub. The company held a 6.7% share of India’s nearly US$5 billion room AC market in fiscal 2025 and aims to reach 8% by 2026. The strategy reflects rising demand from first-time buyers, frequent heat waves, and the broader shift of global manufacturers toward India as a production base.
Source: Reuters
