Local and international brands of air conditioners are setting their targets of sale as the summer season, when the demand for the home appliance goes up, is setting in.
Keeping in view the expanding market of ACs, different brands are planning to launch new products with lucrative offers.
Currently, around 25 local and foreign companies are marketing different types of air conditioners in the growing local market, with the demand rising disproportionately every year.
Many of them are offering deep discounts, installment and credit facilities to boost up their sales.
An official of global brand Samsung told the Dhaka Tribune that the company recorded 200% growth in AC sales in 2018, and they hope to cross the target this year.
Local companies, such as Walton, Transcom Digital, Rangs, Vision, Media Tech and Singer Bangladesh, have set up factories to assemble ACs and other home appliances to cater to the growing demand.
Walton branch in-charge Hadi Al Mamun said: “As a local brand, Walton is very popular for its cheap and durable products, which can be availed with 20% down payment in three years’ installments.”
“Last year, we sold one lakh ACs. This year, we are hoping to sell more,” he said with confidence.
“Buyers prefer inverters, which save 50% to 60% electricity. They are also more interested to buy 1.5-ton air conditioners, although cooling capacity of AC depends on the size of the room where it is installed,” he added.
Singer executive branch manager Aslam Hossain said: “In the last couple of years, demands for ACs increased by 25% to 30%. Buyers are opting for 1.5 to 2-ton ACs, priced between Tk56,000 and Tk62,000.”
Sk Mesba-Ul-Alam, executive of sales department of Rangs, said: “The brand is on top of customers’ choice here for the affordable price range and zero-interest installment facility.”
“We are soon going to offer a one-ton AC at only Tk35,900 on the occasion of Pohela Boishakh,” he added.
“Global brand Panasonic’s one-ton AC prices range from Tk75,000 to Tk1 lakh. Another product of the brand, Econavi, is priced between Tk73,000 and Tk95,000,” informed Wasim Hasib, marketing officer of Panasonic.
According to Semiconductor Technology Research Centre of Dhaka University, the air conditioner market is always expanding in Bangladesh as people’s buying capacity is increasing.
Particularly during the summer season, when temperatures remain high, local and global companies expand their product supply.
An increasing number of offices and commercial spaces in the country, along with the booming tourism and hospitality sectors, are also contributing to the healthy growth of the AC market in Bangladesh.
Market experts, meanwhile, attribute the popularity of local brands to their durability and lower prices.
Local Walton and Singer products are on top of the sales charts, while other dominant brands are Sony-Rangs, LG-Butterfly, General and Gree.
According to the Paris-based International Energy Agency, sales of air conditioners went up by about 50% in 2015-2016.
Local companies have 40% market share in the AC market, while the rest is taken up by foreign companies, according to a market research of LankaBangla Investment Ltd.
According to a market research of Sony –Rangs, around six lakh units of ACs were sold in 2017, and around 10 lakh units in 2018. The market size stood at Tk6,500 crore last year.