Hitachi eyes 15% growth in residential AC segment this year
Johnson Controls-Hitachi Air Conditioning India is eyeing a 15% growth in the residential AC segment this year helped by its inverter range. The company expects to almost double the sales of its inverter range of ACs and around 50% growth in sales of 5-star inverter ACs over the previous year.
Apart from this, the air conditioner maker, which mostly operates in the premium residential AC segment under brand Hitachi, has also launched new models designed specifically to cater to the first time and mid-segment AC buyers.
Gurmeet Singh, Chairman and Managing Director, Johnson Controls-Hitachi Air Conditioning India, said, "We will continue to be one of the top brands in the air conditioner segment. We expect to grow much faster than the market and achieve nearly 15 per cent growth (by value) this year."
"With this new brand identity, our growth addresses the inherent consumer needs and will be driven by strong sales and marketing push in south and west markets this year," he further added.
The company had witnessed more than 24% year-on-year growth (y-o-y) in room AC last year against the industry growth of 7%.
Singh stated, "This growth was majorly driven by the company's focus towards providing energy efficiency and green products along with easy finance options. We are one of the top brands in India with a 12 per cent market share in the AC segment and intend to add a per cent or two by the end of 2019-20."