Commercial refrigeration is fast catching up the fancy of global players in the country, thanks to the boom in organised retail and excise duty exemption on refrigeration equipment announced in the Budget. Players like Haier Electronic and Sanyo India are betting on the commercial refrigeration industry that is growing at 35-40% and is pegged at Rs 400 crore.
While Sanyo India will foray into the segment with wine coolers, chest freezers and kitchen equipments, Haier is eyeing the display cabinet and freezers to capture 15-30% market share in next two-three years.
?Organised retail in food sector is booming in India and with the sector emerging as a top priority for government, there has been a surge in demand for refrigeration equipment in the past,? says Ravi Gupta, vice president commercial business, Sanyo India Pvt Ltd.
?Further, the excise duty exemption on refrigeration equipments will substantially bring down the cost of the equipment. This will prompt more people to use refrigeration in retail food biz,? adds Gupta.
Agrees Pranay Dhabhai, director and COO of Haier Appliances (India) Pvt Ltd, ” Growth in organised retail and large players entering the segment has seen the demand has grow in the last one year”.
Cold storage or back-end operations constitute Rs 200 crore and the front-end or showcases add another Rs 200 crore, taking the total value of the refrigeration industry in India to Rs 400 crore.
