Haier Eyes $2 Billion Sales in India by 2028, Plans ₹1,000 Cr Investment in New Plants

Haier Appliances India aims to reach $2 billion in sales within the next 3–4 years, driven by strong growth, product expansion, and a wider distribution network. The company plans to invest over ₹1,000 crore between 2024 and 2028 to establish new manufacturing units, supplementing its existing ₹2,400 crore investment in Pune and Greater Noida.

With new production sites, Haier’s annual capacity will increase from 1.5 million to 4 million units, addressing rising demand, particularly in air conditioners. The company is also considering a South India facility.

In 2024, Haier recorded a 36% revenue growth, crossing the $1 billion mark. It expects to surpass ₹11,500 crore in revenue this year, with steady annual growth. Haier sees India as a key market and aims to make it one of its top three global contributors.

While premium products have driven growth, Haier remains committed to offering both high-end and budget-friendly appliances. Since entering India in 2003, the company has become a strong competitor against LG, Samsung, and Panasonic in home appliances and consumer electronics.

Haier Eyes $2 Billion Sales in India by 2028, Plans ₹1,000 Cr Investment in New Plants

Haier Appliances India has set an ambitious target to reach $2 billion in sales within the next three to four years, fueled by robust growth, diversification of its product range, and an expanded distribution network. Company President N S Satish shared that the brand plans to invest over ₹1,000 crore between 2024 and 2028 to build new manufacturing units for air conditioners and injection molding, supplementing its existing facilities in Pune and Greater Noida, where it has already invested ₹2,400 crore.

The new production sites will boost Haier’s annual manufacturing capacity from 1.5 million to 4 million units, addressing rising domestic demand and enhancing local value creation. Satish noted that India’s rapidly expanding air conditioner market is expected to outpace current capacity by 2027, necessitating the additional 2.5 million units from the upcoming plant. The company is also evaluating a facility in South India, with investment plans to be unveiled shortly.

In 2024, Haier achieved a 36% revenue jump, crossing the $1 billion mark with sales of approximately ₹8,900 crore. Projecting continued momentum, the firm anticipates exceeding ₹11,500 crore in revenue this year, with annual growth increments of ₹2,000–2,500 crore. Satish highlighted India’s untapped potential, driven by economic development and relatively low home appliance penetration compared to global standards. He envisions India ascending to Haier’s top three global markets within four to five years, alongside China, North America, and the Russia-Europe region.

The company is witnessing strong demand across segments like air conditioners, refrigerators, washing machines, and TVs. While premium products—boosted by affordable financing options—saw notable growth last year, Haier remains focused on balancing high-end innovation with budget-friendly offerings. Satish reiterated the brand’s strategy to prioritize strengthening its core identity in India rather than introducing sister brands like Casarte or GE Appliances from its global portfolio.

Since its entry into India in 2003, Haier has emerged as a significant competitor in the home appliances sector, rivalling giants such as LG, Samsung, and Panasonic across categories including refrigerators, air conditioners, and consumer electronics. Over the years, the company has expanded its footprint by strengthening its manufacturing capabilities, introducing innovative products, and enhancing its distribution network across urban and rural markets. With a strong focus on localization, Haier has increased domestic value addition through its production facilities in Pune and Greater Noida.

The brand’s commitment to affordability, energy efficiency, and smart technology integration has helped it gain a competitive edge, attracting a growing customer base in India. By offering innovative features, flexible financing options, and premium as well as budget-friendly products, Haier has strengthened its presence across diverse consumer segments. Its continuous investment in research and development ensures that its appliances meet evolving customer needs while maintaining high performance and durability. Additionally, Haier’s emphasis on after-sales service and customer support has further reinforced brand loyalty, positioning it as a trusted choice for Indian households seeking reliable and advanced home appliances.