Southeast Asia and India have been experiencing record-setting heat since April. Thailand sweltered under the hottest heat wave to hit the country in the last 65 years, with some places recording temperatures near 45oC at the end of April. Malaysia, Singapore, and Vietnam have seen temperatures near their record highs for this time of year. A record high of 51oC since measurements began was also recorded in India.
These heat waves have sparked explosive growth in the room air conditioner (RAC) markets of Southeast Asia and India. If this growth momentum continues, RAC sales in Southeast Asia and India may grow by 50% this year over the record-high sales marked in 2014. Japanese manufacturers began developing the RAC market in these regions some 30 years ago and dominate them today. All signs point to a very strong sales season this year.