AC industry is bound to be hot

“We have always believed in offering world-class products and services to our customers,” says Krishan Sachdev, Managing Director, Carrier Midea India
Carrier Midea India (CMI) offers air-conditioning solutions in the commercial and residential segments across most categories. The company believes in creating energy-efficient, effective cooling solutions to help in reduced electricity consumption. In an interview with ACE Update, Krishan Sachdev shares where CMI targets to see itself in the next 3-4 years.
India and construction and infrastructure industry With growth of the construction and infrastructure industry, the commercial HVAC and in some areas room AC segment is bound to grow as it tends to follow a similar trajectory to these industries. The planned impetus to strengthen the infrastructure across the country in road-rail network, urbanisation and industrialisation is expected to boost the HVAC segment in India. The players in the HVAC industry have to upgradeas per the star labeling and market requirements, for which new technologies and R&D have to be worked upon in order to remain competitive. Players make investments in R&D, efficient products, designs and packaging, ancillary setup and so froth. Overall, the customer is spoilt for choice in this segment.
Growing Carrier MideaWith increase in construction spending and subsequently competitive environment in the HVAC segment, the AC industry is bound to grow. CMI has always believed in offering world-class products and services to its customers. With the Midea brand comprehensive product range and its Carrier brand room AC range, CMI offers air-conditioning solutions in the commercial and residential segments across most categories.
X-FactorsIn India, the HVAC market is largely governed by growing urbanisation, subsequent increase in construction activities, product developments and environmental regulations. Prolonged summer has a very strong impact in the residential air-conditioner segment. Additionally, new found push for energy conservation, greater awareness towards star labeling and increasing demand for inverter based air-conditioning solutions has propelled the demand for energy-efficient airconditioners. However, the spurt in residential and commercial projects in metros and non-metros can be considered as the major factor. This has taken the HVAC industry to a different level. CMI believes the AC industry will benefit from these developments.
CMI in current market scenarioWith the emerging middle class, increased disposable incomes and low level of product penetration, India holds very strong growth prospects for the consumer goods industry. AC is present in less than 5 per cent households in India, 70 per cent in South Korea, 72 per cent in Singapore and 45 per cent in China. The residential air-conditioning industry is expecting an average growth of 10-15 per cent over the next few years. That’s why CMI targets to be in the top 3 in the residential AC segment in India in the next 3-4 years.
CMI and competitorsThe existing ranges of ACs will continue to be based on Carrier Midea’s core values of creating energy-efficient, effective cooling that will help in reduced electricity consumption. Midea’s expertise in developing world-class design and providing advanced product solutions to consumers   brings to the Indian consumer, products with relevant features and a strong benefit value proposition. Products of both brands are equipped with 100 per cent copper condenser, making them durable, reliable and suited for Indian weather conditions. These products give high-efficiency and conditioning in extreme weather, offering value to the customer throughout the product life cycle.

4