‘Air conditioner prices to go up by 5-15%, sales likely to grow by 20%’

sharp rise in copper prices is all set to make cooling an expensive affair this year. To combat this and currency fluctuations amid a weakening rupee, most AC brands are expected to go price hike of between 5 and 15%, said Mukundan Menon, managing director, Voltas Limited. In an exclusive interaction with Arshad Khan, Menon said Voltas, a Tata Group company, is eyeing a growth of 20% this year while the AC market overall may grow at around 15-20%. The MD also wants to increase Voltas presence in the international market and expects to remain the fastest-growing brand in the refrigerator and washing machine market. Edited excerpts:

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A sharp rise in copper prices is all set to make cooling an expensive affair this year. To combat this and currency fluctuations amid a weakening rupee, most AC brands are expected to go price hike of between 5 and 15%, said Mukundan Menon, managing director, Voltas Limited. In an exclusive interaction with Arshad Khan, Menon said Voltas, a Tata Group company, is eyeing a growth of 20% this year while the AC market overall may grow at around 15-20%.

2025 was a tough year for the AC market. Do you expect a revival in demand this season?

Year 2024 was a superb year due to the long extended summer. However, 2025 was a terrible season for the industry as AC sales fell by 25% as summer was short and the monsoon arrived early. Going forward in the 2026 season, we expect the growth will be there because the base is already low and ACs have now become more like a necessity than a luxury. Currently, the AC market is at 15 million units a year. This year the industry is likely to grow 15-20% while we at Voltas are expecting to grow upward of 20%.