Air-conditioning and commercial refrigeration company Blue Star on Thursday announced the launch of an inverter split AC designed to give consumers a wider choice while setting the temperatures. The top models allow users to regulate the temperatures across a wider range. Speaking at a press conference, B Thiagarajan, joint managing director, Blue Star, said the room air conditioners market in India grew by 20% between April to December 2016, while Blue Star outperformed the market with a growth in excess of 30%.
“There are strong indicators of a severe summer in 2017 and demand in Tier 3, 4 and 5 towns continues to be good. Many customers are first-time buyers and are availing easy finance options in a big way. Post-demonetisation, the market is getting used to new methods of electronic payment systems,” Thiagarajan said.
In line with its track record, Blue Star expects to grow again outperforming the market and reach a market share of 12.5% in FY18.
Blue Star’s room ACs are currently manufactured at its two units in Himachal Pradesh, and it intends to increase its investment to R33 crore in FY18 against the R30 crore in FY17 on new product development as well as research and design initiatives.