WARM VIBES
With winter at its peak, sales of appliances like geysers and room heaters are spiking, bringing cheer for retailers and manufacturers alike
THE EXTREME COLD affecting several parts of India has caused a twofold jump in demand for room heaters across sales channels. Demand for high-capacity geysers (15 litres or more) has also surged considerably. The room heater market in India—valued at $94.6 million (around `784 crore) in 2023— is pegged to grow at a CAGR of 6.76 per cent till 2029, per management consulting firm TechSci Research. It says the water heater market—valued at $285.85 million (around `2,366 crore) in 2023—would grow at a CAGR of 7.15 per cent through 2029.
“Room heaters (fan and halogen models) and storage water geysers are the most popular categories during peak winter,” says Jagjeet Harode, VP of Electronics, Appliances and Private Brands at Flipkart. Customers prefer value for money when buying room heaters as they are utilised only for a short period of time. “Fan room heaters priced between `1,500 and `2,000 are the most popular ones,” says Harode, adding that smart water geysers are also witnessing significant traction.
This pattern is visible in both offline and online channels. “Growing demand for energy-efficient and smart appliances is shaping consumer preferences across income segments. In urban areas, room heaters, especially in the mid-price segment, are gaining popularity,” says Gaurav Pahwa, Director at Lotus Electronics, an electronics retail chain in central India.
Manufacturers are also launching innovative products. The Solarium Care line from Crompton Greaves Consumer Electricals, which includes three bath modes— baby care, hair care, and hygiene—has grown significantly this winter, says Malhar Vadke, Business Head (Large Domestic Appliances) at Crompton Greaves Consumer Electricals. He adds that demand for smart geysers is also rising. While Vadke doesn’t share exact figures, he says, “We have seen remarkable growth in sales, especially in the water heater category. Our sales projection for the upcoming winter season is optimistic, given the growing demand. The introduction of tank-less geysers and the success of our Solarium range is expected to drive sales further.”
This upswing in demand for smart appliances is driven by factors like increasing urbanisation, a rise in disposable income, and a heightened awareness of energyefficient solutions, say market players. No wonder the market is expanding rapidly.
CUSTOMERS PREFER VALUE FOR MONEY WHEN BUYING APPLIANCES FOR USE IN WINTER